Metro Revises Budget Expectations for 2013

$16 million in savings could mean smaller fare increases

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    NEWSLETTERS

    Good news for Metro riders and their pockets. News4's Megan Mcgrath reports.

    It’s a case of good news/bad news for Metro riders.

    The bad news is that riders will soon have to pay more to use the Metro system.

    But the good news is that the fare increase may be smaller than expected.

    Metro CEO Richard Sarles says that the authority's operating budget deficit for 2013 has shrunk by $16 million. The improved forecast is thanks to more passengers and revenue generated this year than expected, as well as some cost-cutting measures.

    "This significant budget improvement enables the Board to consider more modest fare adjustments and lower subsidy requests of the jurisdictions,” Metro Board Chair Catherine Hudgins said in a statement.

    Right now, Metro's 2013 budget comes in at around $1.5 billion.

    The Board will consider fare changes and the rest of the 2013 budget at a meeting April 26.