WASHINGTON'S METRO: DEFICITS BY DESIGN

This paper explores the unique financial organization of the Washington Metropolitan Area Transit Authority (WMATA). It discovers that this agency's crucial challenges to its budget stem primarily from its uncertain revenue base. The most important difficulty is that WMATA does not have any dedicated funding sources, so it has to rely too much on financing that is appropriated on an annual basis. This leads to frequent financial crises, which recur regularly. The paper recommends numerous sources that have potential for offering dedicated revenue for WMATA. Adoption of a dedicated source of funding would decrease WMATA's financial vulnerability.

• Record URL:
  • http://www.brookings.edu/~/media/Files/rc/speeches/2004/0603metropolitanpolicy_puentes/20040603_WMATA.pdf
• 
• Corporate Authors:

  Brookings Institution

  1775 Massachusetts Avenue, NW
  Washington, DC  United States  20036
• Authors:
  • Puentes, R
• Publication Date: 2004-6

Language

• English

Media Info

• Features: Appendices;
• Pagination: 24 p.

Subject/Index Terms

• TRT Terms: Budgeting; Deficits; Financing; Operating costs; Operating revenues; Public transit; Revenues
• Identifier Terms: Washington Metropolitan Area Transit Authority
• Uncontrolled Terms: Dedicated funding sources
• Geographic Terms: Washington Metropolitan Area
• Subject Areas: Finance; Public Transportation;

Filing Info

• Accession Number: 00976324
• Record Type: Publication
• Files: TRIS
• Created Date: Jul 20 2004 12:00AM