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TA Passes Interim Budget, Projects Deep Impacts to Revenue

TA Passes Interim Budget, Projects Deep Impacts to Revenue

 

The San Mateo County Transportation Authority’s (TA) Board of Directors unanimously approved a $29.8 million interim budget for the first quarter of fiscal year 2021 at their June 4 board meeting.

The agency has put forward this interim budget due to the impact the coronavirus (COVID-19) has had on the finances of the agency. This budget reflects projected sales tax revenues, and the commensurate reduction in allocations to the Measure A and W program categories. TA staff expect that the financial realities will be clearer by September when they will return to the Board to discuss the budget for the remainder of FY2021.

The first quarter is expected to bring in $67 million more than the first quarter of FY2020, due primarily to the receipt of $70 million in grants for the Highway 101 Express Lanes Project. However, sales tax revenues have been down since the beginning of the shelter-in-place order, making the budgetary future of the agency unclear. The expenditures for the first quarter are 5.6% lower than the first quarter of FY2020 to reflect that uncertainty.

This interim budget will provide approximately $28.3 million in Measure A and W funds for various transportation projects, including Alternative Congestion Relief, Dumbarton, Caltrain, Pedestrian & Bicycle, Local Shuttles, Streets & Highways, Grade Separations and San Mateo County Ferry Service. The budget also includes $947,000 in staff and administrative expenses.

The TA FY2021 interim budget begins on July 1 and ends on September 30.

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About the Transportation Authority (TA): Created to administer Measure A, San Mateo County’s ½ cent sales tax, the TA provides funding for transportation projects and programs in San Mateo County. In 2004, more than 75 percent of San Mateo County voters reauthorize Measure A for an additional 25 years. In 2018, voters approved Measure W, the San Mateo County Congestion Relief Plan an additional ½ cent sales tax. The TA will administer half the revenue of Measure W and the San Mateo County Transit District will administer the other half to fund and implement the Congestion Relief Plan.

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Media Contact: Dan Lieberman, 650-622-2492