Post by les on May 15, 2023 12:56:20 GMT
May 15, 2023
"The MBTA was able to lean on state and federal assistance, and a hefty dip into its own emergency fund to close a $366 million budget gap for fiscal year 2024, but faces future shortfalls that could grow to $542 million by 2028.
Chief Financial Officer Mary Ann O’Hara said how these “sizable budget gaps” are addressed in upcoming years is dependent on fare revenue, hurt now by lower ridership levels that have persisted since the pandemic, and actual spending over the next two years."
MBTA budget gap could hit $542M by 2028
"The MBTA was able to lean on state and federal assistance, and a hefty dip into its own emergency fund to close a $366 million budget gap for fiscal year 2024, but faces future shortfalls that could grow to $542 million by 2028.
Chief Financial Officer Mary Ann O’Hara said how these “sizable budget gaps” are addressed in upcoming years is dependent on fare revenue, hurt now by lower ridership levels that have persisted since the pandemic, and actual spending over the next two years."
MBTA budget gap could hit $542M by 2028