Metro News Release

For immediate release: March 11, 2005

Metro continues to post strong revenue numbers in Fiscal Year 2005

reduced subsidy allocation expected in FY 2006 for local jurisdictions

At yesterday’s Washington Metropolitan Area Transit Authority (Metro) Board Budget Committee, Metro reported that through the first seven months of fiscal year 2005 (July 1, 2004 to June 30, 2005), Metrorail, Metrobus and MetroAccess ridership was 2.6 percent higher compared to last year, improving projected revenue gains in the fiscal year.

As a result of the favorable performance in revenues in fiscal year 2005 and some service changes, Metro officials said they would be able to save local taxpayer dollars and recommended a $9.5 million reduction in local subsidy contributions to the proposed fiscal year 2006 operating budget, compared to preliminary estimates. Local subsidies are paid by taxes collected by Maryland, Virginia and the District of Columbia.

"As a result of continued ridership gains on Metrorail, Metrobus, and MetroAccess, and combining that with increased revenues coming from our parking facilities, we are projecting an end-of-the year positive variance in the fiscal year 2005 budget," said Metro CEO and General Manager Richard A. White. "We still have a few months to go, but if everything stays on track, we are looking at a positive end to the year with the fiscal year 2005 budget. We believe that this positive direction would also occur in fiscal year 2006, saving the local jurisdictions that Metro serves $9.5 million in the operating budget for fiscal year 2006."

Through the first seven months of fiscal year 2005, Metrorail ridership is up 2 percent; Metrobus ridership is up 3.2 percent; and MetroAccess is up 13 percent. ###

News release issued on March 11, 2005.