Everett leaders want closer look at transit finances, merger
EVERETT — Whether to keep Everett Transit or merge with another agency will get a more robust look by city leaders in 2020.
For the past couple of years, Everett officials have known their transit system could face a budget shortfall unless something changes.
With sales tax revenue flagging as retail activity decreased over the past decade, the city is collecting fewer dollars for its bus system.
Sales tax accounts for about 80% of Everett Transit’s revenue.
During the Dec. 18 City Council meeting, Everett Transit Executive Director Paul Kaftanski warned that “a worrisome financial future” is ahead if the department keeps operating as it has. He presented a 20-year financial outlook of Everett Transit’s cost and revenue that showed service costs for four different scenarios were projected to surpass revenue within five to 10 years.
“It is not realistic to continue offering the current service level, already reduced by 7% this past March, with transit’s current revenue stream,” he said.
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