The San Mateo County Transportation Authority (TA), the agency that manages projects funded by local sales tax revenue, will hold a public hearing on June 5 to discuss its proposed budget for the 2015 fiscal year.
The FY2015 Proposed Budget is $68.2 million and is composed of $26.3 million in Annual Allocations, $39.7 million in projected Program Expenditures, $1.2 million in Oversight, and $1.0 million in Administrative expenses.
Section 131266 of the California Public Utilities Code requires that the TA conduct a public hearing prior to adopting the annual budget.
The hearing will be held at 5 p.m. during the TA’s Board of Directors meeting. It will take place in the second floor auditorium at the TA headquarters, located at 1250 San Carlos Avenue in San Carlos.
Following the hearing, the TA’s Board of Directors will vote on whether to approve the proposed budget.
The TA was created in 1988 following the approval of Measure A from San Mateo County voters. Measure A directs revenue from a ½-cent sales tax toward transportation and infrastructure improvement projects in the Peninsula. Over the first 20 years of the program, it provided $1.2 billion for local projects and leveraged an additional $1.2 billion from state and federal sources.
In 2004, more than 75 percent of San Mateo County voters opted to reauthorize Measure A for an additional 25 years.