Title
A MOTION related to addressing the budget gap facing King County Metro transit through a balanced revenue and expenditure approach.
Body
WHEREAS, over the past few months, worldwide petroleum prices have reached all-time record levels resulting in a significant increase in fuel prices, and
WHEREAS, Metro transit uses more than 10 million gallons of diesel fuel each year and the 2008/2009 biennial budget was based on per-gallon costs for diesel fuel of $2.60 in 2008 and $2.70 in 2009, and
WHEREAS, the price per gallon of diesel fuel has been growing in recent months and is currently expected to average $3.57 in 2008 and $4.07 in 2009. At this pace, diesel fuel will add approximately $120 million to Metro transit's costs over the period 2008 - 2014. The Access program is experiencing the same level of cost growth as the bus system with additional costs of diesel of $1.6 million annually, and
WHEREAS, the latest projections of sales tax revenue, the primary source of transit funding, indicate a significant reduction in 2008 and future years, even as inflation has driven up the cost of wages and other costs to Metro transit, and
WHEREAS, the executive has formally recommended a fare increase and informally recommended several other responses to the financial crisis, including capital project deferrals and cancellations, asset sales, internal cost savings and an effort to identify new sources of revenue;
NOW, THEREFORE, BE IT MOVED by the Council of King County:
A. The council intends to work closely with the executive and the Metro transit division to identify and implement solutions to this multi-year funding that preserve existing and planned new bus service. The council will work with riders, employers, other governments, valued employees and other stakeholders to achieve financial stability and to preserve transit service;
B. Preservation of service is critical in light of record ridership growth as customers respond to increasing fu...

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