Proposed Fiscal Year 2013 Budget
Here’s the news release from Metro — the most newsworthy item, I think, is that the $4.5-billion budget does not propose raising fares for the 2013 fiscal year:
Metro will conduct a budget workshop and public hearing on a proposed $4.5 billion budget for Fiscal Year 2013 on Wednesday, May 16, at 2:30 p.m. in the third floor Board room at Metro Headquarters, One Gateway Plaza, Cesar Chavez & Vignes, next to Union Station in downtown Los Angeles.
The budget can be viewed online by clicking here. The public can view a copy of the balanced budget proposal at Metro.net. Request copies via e-mail at rmc@metro.net or by calling Charlene Williams in Metro Records Services at 213.922.2342.
Metro’s Board could consider adopting the budget for the fiscal year beginning July 1, 2012 at the board meeting that starts at 9 a.m. on Thursday, May 24, at Metro headquarters.
Metro CEO Art Leahy’s budget proposal, which is balanced with no shortfall, does not propose raising fares, which already rank among the lowest in the nation. Metro’s farebox recovery will stay at 28 percent, again near the bottom of any major operator, and passenger loads also will be low compared to our peers.
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