SamTrans Board of Directors Approves Interim Operating and Capital Budgets

SamTrans Board of Directors Approves Interim Operating and Capital Budgets

 

The San Mateo County Transit District Board of Directors unanimously approved the Fiscal Year (FY) 2021 Interim Operating and Capital Budgets at its regular board meeting on Wednesday, June 3. The adopted SamTrans Interim Operating Budget for the first quarter of FY2021 is $63.5 million and the Capital Budget is $5.6 million.

The agency has put forward this interim budget due to the dramatic impact the coronavirus (COVID-19) has had on both the operations and finances of the agency. The Operating Budget reflects expectations of expenditures tied to essential services that will be necessary as the pandemic continues to unfold. The Capital Budget is limited to work on projects only where funds are available due to prior-year savings. The Board will address the remainder of FY2021 at its September meeting, after more information on ridership and tax revenue becomes available.

The interim operating budget will support day-to-day management of District services.

In keeping with the District’s need to conserve financial resources, the Capital Budget’s final recommendations reflect the most critical projects that support the District’s goals. Approved projects include the purchase of major bus components, paratransit vehicle replacements, IT system upgrades and facility improvements. There are additional significant projects that continue to be developed and reviewed by staff, which may be presented later in the fiscal year for Board consideration.

Adoption of the proposed budgets is an important step along the way towards a future that provides service that is relevant, adaptable and financially sustainable.

The District’s FY2021 Interim Operating Budget begins July 1, 2020 and ends on September 30, 2020.

###

About SamTrans: SamTrans operates 70 routes throughout San Mateo County. Funded in part by a half-cent sales tax, the San Mateo County Transit District also provides administrative support for Caltrain and the San Mateo County Transportation Authority. SamTrans has provided bus service to San Mateo County customers since 1976.

Follow SamTrans on Facebook and Twitter.

Free translation assistance is available. Para traducción llama al 1.800.660.4287; 如需翻譯,請電 1.800.660.4287.

 

 

SamTrans News

Media Contact: Dan Lieberman, 650-622-2492