Financials
Fiscal Year 2022 (July 1, 2021 - June 30, 2022) Budget
Adopted Budget
The Adopted Budget Report is a comprehensive report covering BART's annual operating and capital budgets. Also includes the strategic work plans and organizational charts of each BART department.
Preliminary Budget Memos:
A preliminary memo covering BART's annual operation and capital budgets in the development stage.
BART's operating budget funds the annual operation and maintenance of the train system. The operating budget sources include passenger and parking revenue, taxes, and financial assistance from local, state and federal sources. The capital budget funds the construction, expansion, renovation, or replacement of physical assets (new train cars, station improvements, etc.) Capital funding consists of federal/state/local grants, voter approved bonds and measures specifically for capital improvements, and allocations from the operating budget.
The Fiscal Year 2022 (FY22) Preliminary Budget Memo provides a starting point for FY22 budget discussions with the BART Board, riders, and the public. The Memo outlines BART’s current ridership and budget outlook, as well as new initiatives to help rebuild ridership, improve the rider experience, and support regional recovery.
The BART Board of Directors will discuss and take action on the budget at upcoming board meetings, which are tentatively scheduled as follows:
- April 22, 2021: FY22 Preliminary Budget Overview
- May 13, 2021: FY22 Budget Sources, Uses, Service Plan, and Capital Budget
- May 27, 2021: Public Hearing on FY22 Annual Budget
- May 27, 2021: FY22 Proposition 4 Appropriations Limit (for action)
- June 10, 2021: Resolution Approving the Fiscal Year 2022 Annual Budget (for action)
Fiscal Year 2021 (July 1, 2020 - June 30, 2021)
Adopted Budget
The Adopted Budget Report is a comprehensive report covering BART's annual operating and capital budgets. Also includes the strategic work plans and organizational charts of each BART department.
FY21 Adopted Budget Report
FY21 Adopted Budget Resolution
FY21 Adopted Annual Budget Report (Income Statement)
Financial Reports:
Quarterly Financial Reports:
FY21 Q3 QFR
FY21 Q2 QFR
FY21 Q1 QFR
Budget Development Process:
FY22 Preliminary Budget Overview (4/22/21)
COVID-19 Update -- Presentation (3/25/21)
COVID-19 Response Update (1/28/21)
FY21 Budget Update (1/14/21)
FY21 Budget Outlook (11/19/20)
FY21 Budget Outlook (10/22/20)
FY21 Budget Outlook (9/24/20)
FY21 Budget Outlook (9/10/20)
FY21 Budget Outlook (8/27/20)
COVID-19 Presentation (7/23/20)
FY21 Budget Adoption (6/25/20)
FY21 Budget Public Hearing (6/11/20)
Fiscal Year 2021 Budget Sources Uses Service Plan and Capital Budget (5/28/20)
Fiscal Year 2020-2021 Budget Overview (5/14/20)
Preliminary Budget Memos:
A preliminary memo covering BART’s annual operation and capital budgets in the development stage.
Fiscal Year 2020 (July 1, 2019 - June 30, 2020)
Adopted Budget Summary:
FY20 Year-End Budget Revisions Executive Decision Document
FY20 Adopted Budget Report
FY20 Adopted Budget Resolution
Financial Reports:
Quarterly Financial Reports:
FY2020 Q4 QFR
FY2020 Q3 QFR
FY2020 Q2 QFR
FY2020 Q1 QFR
Preliminary Budget Memos:
FY20 Preliminary Budget Memo (Budget Pamphlet)
Fiscal Year 2019 (July 1, 2018 - June 30, 2019)
Adopted Budget Summary:
FY19 Year-End Budget Revisions Executive Decision Document
FY19 Adopted Budget Report
FY19 Adopted Budget Resolution Amendment
FY19 Adopted Budget Resolution
Financial Reports:
Quarterly Financial Reports:
FY19 Q4 QFR
FY19 Q3 QFR
FY19 Q2 QFR
FY19 Q1 QFR
Preliminary Budget Memo:
FY19 Preliminary Budget Memo (Budget Pamphlet)
Program Plans
Short Range Transit Plan/Capital Improvement Program:
An annual overview of BART's long-term operating and capital outlook. The SRTP projects the operating forecast for the next 10 years. The CIP details capital investment for the next 15 years. The latest SRTP/CIP is the draft version for FY19 Report.
System Renewal Program: In 2017, BART district voters approved a $3.5 billion infrastructure bond to help fund system repairs and improvements such as rails, tunnel walls, and computer control equipment.
Click here for the Program's website and to view the RR Annual Reports.
Debt
BART Official Statement:
Government issued document for general obligation and sales tax revenue bonds
FITCH RATINGS SALES TAX REVENUE BONDS RATING CHANGE
Fitch Ratings Sales Tax Revenue Bonds Rating Change - August 19, 2021
Standard and Poor's Sales Tax Revenue Bonds Affirmation - March 25, 2021
Standard and Poor’s General Obligation Bonds Rating Change – March 10, 2021
2020 Official Statement General Obligation Bonds
2019 Official Statement Sales Tax Revenue Bonds
2019 Official Statement General Obligation Bonds
2017 Official Statement Tax Revenue Bonds
2017 Official Statement General Obligation Bonds
2016 Official Statement Sales Tax Revenue Bonds Refunding Series A
2015 Official Statement Sales Tax Revenue Bonds Refunding Series A
2013 Official Statement General Obligation Bonds
2012 Official Statement Sales Tax Revenue Bond Refunding
2010 Official Statement Sales Tax Revenue Bond Refunding
2007 Official Statement General Obligation Bonds
Green Bond Framework
Green Bond Framework - August 18, 2021
Other Reports
Audited Financial Reports:
An examination of BART's financial statements by an independent organization.
FY20 Audited Financial Reports
FY19 Audited Financial Reports
FY18 Audited Financial Reports
FY17 Audited Financial Reports
FY16 Audited Financial Reports
FY15 Audited Financial Reports
Quarterly Report from the Controller Treasurer:
Updates on employee compensation, accounts payable, accounts receivable, and financing.
Employee Reimbursements:
in compliance with CA Government Code 53065.5
Gift to Agency Form:
FPPC Form 801 is used by government agencies when payments to the agency provide a personal benefit to an official of the agency.
Relevant documents related to BART can be viewed here.
Independent Registered Municipal Advisors Exemption Language
Click here.
VTA's BART Silicon Valley Phase I
Operations and Maintenance Agreement By and Between VTA and BART
The Operations and Maintenance Agreement between BART and VTA relates to the revenue operations phase of the Silicon Valley BART Extension and addresses, among other things: (i) BART's and VTA's individual operations and maintenance responsibilities for the extension; (ii) use of real property associated with the extension; and (iii) VTA's funding and payment of BART's costs.
Financial Policies