BOSTON — Revenue at the MBTA has surpassed expected amounts through the first quarter of fiscal year 2020, prompting officials to upgrade the forecast $30 million above the budgeted amount.
The MBTA is now forecast to bring in about $2.11 billion in total revenue this fiscal year, compared to the $2.08 billion included in the fiscal 2020 budget, the T's Chief Administrative Officer David Panagore said during a Monday presentation.
Growth was not uniform across all categories, according to figures Panagore presented to the Fiscal and Management Control Board.
The T's dedicated sales tax revenue is forecast to run about $36 million over the budgeted amount and fare collections are projected for a $5.6 million boost, but other "own-source" forms of revenue such as parking and advertising are now likely to fall $14 million short of expectations.
Despite that downgrade, Panagore said the $97 million projection for parking, advertising, real estate and other non-fare operating revenue is still "within striking distance of the $100 million figure that is often discussed as a target for own-source revenue."
In a separate presentation last month, Panagore said the T faces a $53 million projected fiscal year 2020 budget deficit rather than the $37 million included in the budget, affected by those below-expected own-source revenues and greater overtime expenses.