For the first time in nine years, MARTA has ended the fiscal year without an operating deficit. While the year end financial results will not be finalized until an audit is complete, ending the year $19 million better than expected is a significant milestone for the Authority.
Eliminating the operating deficit required a strong financial "tone from the top" as well as many difficult decisions over the past few years including cuts to service and reductions in MARTA's workforce. The Authority continues to look for ways to reduce costs and increase efficiency while providing safe, reliable public transportation. Management is currently developing mid-year budget adjustments in order to ensure continued financial stability.
MARTA relies in large part on sales tax and passenger revenue to operate - funding sources which fluctuate from month to month and year to year based on constantly changing economic conditions. While MARTA works with the state's top economic forecasters to develop budgets that take all of this into account, it is important that the Authority maintains strong reserves.
While MARTA's current financial situation makes it possible to consider making changes that will positively impact our customers' experience, decisions will be made carefully — making sure that whatever decisions are made can be sustained and that MARTA's financial stability remains secure.