Due to the severe economic downturn, MARTA will have to make tough decisions about its fiscal year 2010 budget, which takes effect July 1, 2009. Without significant increased investment in public transit, MARTA will have to implement severe budget deficit reduction strategies - such as fare increases, system-wide parking fees and - as a last resort - transit service cuts and employee layoffs.
MARTA will host a series of community meetings/listening sessions on January 7, 8 and 10, 2009, to inform the public about the extent of the authority's fiscal issues; review potential cost containment, cost reduction and revenue generation options the authority is considering; elicit community input; and ensure the public is aware of the agency's decision-making process and timeframe for preparing and finalizing its FY 2010 Budget proposal.
Sales tax revenue accounts for 52% of MARTA's overall operating budget. In December, the authority announced a $60 million revenue shortfall for FY 2009 due to the prolonged economic downturn. MARTA implemented immediate cost containment measures to save the authority approximately $11 million in its current budget. In the past week, MARTA received an updated financial forecast from the Georgia State University Forecasting Center which predicts an additional loss of $10 million in sales tax revenue in FY 09 and the loss of another $588 million in sales tax revenue over the next ten (10) years - to be added to the previously forecasted loss of $633.4 million.
During the community meetings, representatives from MARTA will receive input from the public. Members of the Atlanta community can also submit comments by calling 404-848-5026, writing to MARTA's Office of External Affairs at 2424 Piedmont Road, NE Atlanta, Georgia 30324-3330, or by completing an online survey at www.itsmarta.com, which will be available on January 7. Sign language interpreters will be present at the community forums.