GG Bridge district works to balance budget 

Faced with deficits in its operating and capital budgets, the Golden Gate Bridge, Highway and Transportation District could use nearly $20 million in reserves to balance its finances for the upcoming fiscal year.

The district’s operating budget, which covers the transit fleet, is slated to be $170.6 million, which is $8.2 million more than projected revenue. The capital budget, which assesses more long-term maintenance projects, is $76 million, $11.7 million more than revenue projections, according to district documents.

Combined, the district faces a shortfall of $19.9 million for the upcoming fiscal year. To make up that deficit, it has proposed tapping into its reserve funding. On Thursday, the district’s finance committee will vote on approving the proposed budget, with the full board of directors scheduled to decide on final authorization Friday. The upcoming fiscal year begins July 1.

Operating a fully fledged transit agency while overseeing maintenance projects on one of the nation’s most-beloved national monuments has put a strain on the district’s finances in recent years. Currently, the district faces a five-year projected shortfall of $132 million.

To make up that deficit, the district is considering moving to all-electronic tolling, while implementing pay freezes and charging a $2.50 toll for car-poolers to cross the span. Other possible revenue-generating ideas include a fee for pedestrians to cross the bridge and allowing corporate sponsors to discreetly advertise on district property.


Where the money is spent

$170.6 million Projected operating budget
$8.2 million Projected operating shortfall
$76 million Projected capital budget
$11.7 million Projected capital shortfall
$19.9 million Total bridge district could use from reserves to balance budgets

Source: Golden Gate Bridge district

About The Author

Will Reisman

Pin It

Latest in Transportation

Saturday, Mar 17, 2018


Most Popular Stories

© 2018 The San Francisco Examiner

Website powered by Foundation