San Fran has a massive deficit as a county. The school district has a massive deficit. The community college district might be shut down because of a lack of students and money. Now, the transit agency is forced to cut back.
“: The San Francisco Municipal Transportation Agency’s revenue from ridership fares is only 56% of what it was pre-pandemic, while revenue from parking fees dipped by 12%.
- SFMTA has proposed increases to Muni fares, parking fees and fines, as well as taxi fees to fund its service operations.
Threat level: The SFMTA needs to bring in $12.7 million in revenue for the upcoming two-year budget cycle (July 1, 2024, to June 30, 2026), the department wrote in a blog post this week.
- Its money problems are only expected to get worse, with the SFMTA projecting a budget deficit of “a catastrophic $240 million” from July 1, 2026, to June 30, 2027, which could result in the elimination of Muni lines.”
San Fran government, at every level, is collapsing. This is what chaos looks like.
San Francisco transit agency facing “catastrophic” budget deficit
- Megan Rose Dickey, Axios SF, 3/1/24 https://www.axios.com/local/san-francisco/2024/03/01/sf-transit-budget-deficit-catastrophic
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While Muni ridership has seen significant gains since the pandemic, officials from the city’s transit agency this week warned there’s still a looming budget deficit.
Why it matters: The San Francisco Municipal Transportation Agency’s revenue from ridership fares is only 56% of what it was pre-pandemic, while revenue from parking fees dipped by 12%.
- SFMTA has proposed increases to Muni fares, parking fees and fines, as well as taxi fees to fund its service operations.
Threat level: The SFMTA needs to bring in $12.7 million in revenue for the upcoming two-year budget cycle (July 1, 2024, to June 30, 2026), the department wrote in a blog post this week.
- Its money problems are only expected to get worse, with the SFMTA projecting a budget deficit of “a catastrophic $240 million” from July 1, 2026, to June 30, 2027, which could result in the elimination of Muni lines.
What they’re saying: “It is no secret that Muni is facing its challenges,” Jeffrey Tumlin, director of transportation for the SFMTA, said at a press conference this week. “We are still in the worst financial crisis that this agency has faced in its entire history over 100 years.”
- He added that San Francisco is also still reeling from the effects of COVID-era work-from-home policies.
By the numbers: Ridership at the Montgomery Street station, for example, is at only 35% of pre-COVID levels, Tumlin said.
- But ridership has increased in other parts of the city. The 22 Fillmore, for example, is at 139% of its pre-pandemic traffic, according to the SFMTA.
What to watch: The SFMTA must present its proposed budget to Mayor London Breed by May 1.
- Residents can provide feedback to the SFMTA at an in-person open house Saturday at the Richmond Library from 11:30am-1:30pm.
Deficits, deficits, everywhere and not enough money to pay.