Metro’s diminished ridership continued to drop in October from past levels, creating an even bigger hole in Metro’s budget than the agency forecasted just last month.
Last month, the transit agency said it expected to have a shortfall of $22.4 million for the entire fiscal year because ridership was falling below expectations since the June 22 train crash.
But the agency is already $22.6 million short just four months into the budget year, according to a Metro report to be presented this week.
The agency is also slated to give its board members a preview on Thursday of next year’s budget, which looks grim. Officials already have warned that the agency could have a $144 million gap in what is typically a more than $1 billion budget. Fare increases are likely, but service and job cuts may be needed as well.
The problem is that fewer riders have been taking both Metrorail and Metrobus compared with last year. Part of the explanation may be the disruptions the deadly June 22 train crash caused throughout the system. Metro also ran fewer rail cars on the Red Line, where the crash occurred.
But agency officials have pointed to the region’s high unemployment rates. Last year also brought in record ridership levels as commuters sought public transit when gas prices rose above $4 a gallon. It makes sense that some riders would return to their cars as fuel prices leveled off.
But agency officials have pointed to the region’s high unemployment rates. Last year also brought in record ridership levels as commuters sought public transit when gas prices rose above $4 a gallon. It makes sense that some riders would return to their cars as fuel prices leveled off.
However, Metro assumed ridership would continue to grow when it crafted the budget that began July 1.
In addition to the lower ridership numbers, the report also says riders are taking shorter train trips. Because fares range from $1.35 to $4.50, depending on distance and time of day, an increase in short trips is undercutting how much Metro expected to bring in through fares.
The ridership declines have been tempered, though. In July, rail ridership dropped 3.82 percent over the same time last year. In October, the report says, the average weekday ridership had dropped just 1.42 percent compared with the same month in 2008.
The agency already has proposed plugging this year’s hole by cobbling together various funds, including up to $20 million in federal stimulus funds, $7 million reimbursement from insurers, and possibly a $5.6 million surplus from last year.
