Board of Directors approve long-term financial outlook document


Board of Directors approve long-term financial outlook document

BART’s FY15-FY24 Short Range Transit Plan/Capital Improvement Program was approved by the BART Board at its October 9, 2014 meeting.

The Short Range Transit Plan/Capital Improvement Program (SRTP/CIP) provides an overview of BART’s long-term operating and capital financial outlook, as required by the Metropolitan Transportation Commission (MTC).  It covers 10 years, from Fiscal Year 2015 through Fiscal Year 2024.The FY15 SRTP/CIP has a new format with two component documents:

  • “Building a Better BART,” an executive summary providing information to help riders and the public better understand the BART system, its history, its current challenges, and what the future holds, and
  • A traditional SRTP/CIP that is more detailed and meets MTC’s technical requirements, which is the document the Board approves.

Here are key findings from the final FY15 SRTP/CIP:

BART’s operating financial forecast identifies revenues and expenses associated with operating and maintaining BART.  Projected operating needs over the 10-year timeframe total $9.8 billion, with a projected $500 million shortfall.  BART has identified potential solutions to the projected deficit and has committed to balance each future year budget.

BART’s Capital Improvement Program (CIP) is a projection of all BART’s capital needs, regardless of funding availability.  For the 10-year timeframe, $9.6 billion is needed to fully fund the CIP.  BART has already identified $320 million in capital funding and projects another $4.5 billion of capital funding over the next 10 years.  Approximately $4.8 billion remains unfunded, 50% of the total capital need.

Read the documents and handouts:

Better BART Better Bay Area Handout.pdf

Executive Summary Building a Better BART.pdf