|SFMTA home > About Us > Press Room > SFMTA to Host First of Two Upcoming Budget Town Halls on Wednesday, March 10|
Release date: 3/9/10
*** Press Release ***
The San Francisco Municipal Transportation Agency (SFMTA), which operates the Municipal Railway (Muni) and manages parking, traffic, bicycles, pedestrian travel and taxis in the City, will host two town hall meetings this month to discuss how to address projected deficits of approximately $50 million for each of the next two fiscal years.
The first meeting is tomorrow, Wednesday, March 10 and the second is Saturday, March 20. SFMTA staff will solicit input from stakeholders and the general public to balance the FY 2011 and FY 2012 two-year budget. The City Charter requires the SFMTA Board of Directors to approve a balanced two-year budget for FY 2011 and FY 2012 by May 1.
A presentation on the FY 2011 and FY 2012 budget was prepared for the March 2 Board meeting. It can be found at www.sfmta.com/sfmtabudget and provides an overview and possible solutions to the challenge.
The continued economic downturn has exhausted the Agency’s reserves and reduced revenues by hundreds of millions of dollars in recent years. The largest contributing factor to the deficit has been the loss of state funding for transit operations; almost $180 million has been lost in the last three fiscal years. A measure passed by the State Legislature and awaiting the Governor’s approval would provide the SFMTA with an estimated $29 million next year.
SFMTA FY 2011-2012 Budget Town Hall Meetings
Wednesday, March 10 – 6 to 8 p.m.
Additional Public Meetings on the Budget
SFMTA Board of Directors Meetings (Room 400, City Hall)
Tuesday, March 30 – 2 p.m.
Those who would like to comment and cannot attend one of the meetings are asked to send an e-mail to email@example.com or call 311.
For additional information, please visit www.sfmta.com/sfmtabudget.
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