How dumb are the folks that run BART? They are facing a $93 million deficit, declining ridership and increasing crimes. So, instead of incentives to bring riders back—like lower fares and getting rid of the crime, they are RAISING the fares.
“BART said it has a $93 million deficit looming over the 2025 financial year. It has relied on federal funding since the COVID-19 pandemic, but it expects the funding to run out around March 2025. After that, BART could face deficits of $300 million a year without temporary state funding.
“Despite our best efforts to hold the line on expenses and grow revenues with modest fare increases, we are still facing a structural, ongoing budget gap,” said BART Board General Manager Bob Powers. “It’s a stark reminder that BART alone cannot solve the financial crisis created by the pandemic. Right now, BART needs temporary state funding to bridge the gap while we pursue a sustainable source of operating funds to help advance the Bay Area and California’s economic, climate, and equity goals.”
Let me define “structural”. That is the unions squeezing the money out of the BART, forcing it into bankruptcy.
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BART fare increase: Here’s how much more you will be paying
by: Phil Mayer, Terisa Estacio, KRON, 6/10/23 https://www.kron4.com/news/bay-area/bart-fare-increase-heres-how-much-more-you-will-be-paying/
(KRON) — The BART Board of Directors approved a new budget on Thursday. Among the changes that the transportation agency will implement are fare increases and a revised parking policy.
BART said it has a $93 million deficit looming over the 2025 financial year. It has relied on federal funding since the COVID-19 pandemic, but it expects the funding to run out around March 2025. After that, BART could face deficits of $300 million a year without temporary state funding.
“Despite our best efforts to hold the line on expenses and grow revenues with modest fare increases, we are still facing a structural, ongoing budget gap,” said BART Board General Manager Bob Powers. “It’s a stark reminder that BART alone cannot solve the financial crisis created by the pandemic. Right now, BART needs temporary state funding to bridge the gap while we pursue a sustainable source of operating funds to help advance the Bay Area and California’s economic, climate, and equity goals.”
