Fresh forecast trims SFMTA budget deficits by more than $500 million

By Jerrold Chinn : sfbayca – excerpt

The San Francisco Municipal Transportation Agency is not facing a financial crisis, or at least not yet, according to a report from the city Controller’s Office that shows the agency is projecting a better than expected budget forecast compared to the one projected by transit officials.

SFMTA officials earlier in the year had projected budget deficits over the next five fiscal years totaling $646 million. Now, the updated budget forecast shows some projected deficits will no longer exist and will shrink in future projections. The report, released last week, is now projecting the budget deficit to total $123 million over the next five fiscal years…(more)

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