MBTA FACES $111 MILLION BUDGET GAP
By Andy Metzger
STATE HOUSE NEWS SERVICE
BOSTON, FEB. 12, 2018....The MBTA's projected budget gap is expected to grow to $111 million in fiscal 2019, MBTA General Manager Luis Ramírez told the Fiscal and Management Control Board on Monday, and it's unclear whether fares will be part of the fix.
The projected gap is more than three times as large as the budget problem forecast a year ago. Transit officials could implement cost-savings plans or roll out revenue enhancements in the weeks leading up to April 15 when the T's annual budget is due to completed for the fiscal year that starts July 1.
"Some of these things are actually structural, and they've been in place from before. And what we're going to do in this budget cycle is take a look at all the things we can do to improve not only productivity but also ways to reduce overall spending," Ramírez told reporters. He said, "My goal is to have our spending rate always be below the revenue growth rate."
Already a subscriber? Login to continue reading...
Get the Rest of the Story!
State House News Service subscribers include media outlets, corporations, non-profits and law offices of every size. You may request a free 21-day trial of the News Service for your company by submitting the form below.
If you are already a subscriber and need access to SHNS, please send an email to email@example.com or call 617-722-2439.
Note to political campaigns: We do not accept trial requests from campaigns from June 24 through Election Day. However, we would be happy to start a pre-paid subscription for your campaign (except for constitutional offices, congressional offices and statewide campaigns) at a deeply-discounted rate of $22/week, paid through the election. Simply email Virginia Cummings to set up this subscription; she'll send you further instructions.