financialplan

Updated August 27, 2010

GGBHTD Financial Plan, Adopted Oct. 2009

The Golden Gate Bridge, Highway and Transportation District (GGBHTD) is facing a projected $132 million 5-year shortfall because: (1) The recession has led to reduced traffic and transit ridership, which in turn results in lower revenues to support bridge, bus, ferry services; (2) The State of California has taken away several million dollars in annual transit operating funds; and (3) the GGBHTD made a $75 million commitment to the Doyle Drive reconstruction project.

The Financial Plan includes 33 specific initiatives for achieving stable financial status.

Financial Plan Initiatives Either Implemented or in Process
What is Proposed?	Public Information Materials	Public Meetings & Ways to Comment	Actions Taken by GGBHTD Board of Directors	Implementation Date
Reduce Ferry Fare Discount for Clipper Card users (frequent ferry riders) to 30% (Initiative #13)	Press Release, August 3, 2010 Staff Report, August 6, 2010, Transportation Committee	Open House Meetings scheduled for 3:00-6:30pm, Tuesday, September 21 and Wednesday, September 22, 2010, at the Golden Gate San Francisco Ferry Terminal How to Comment	On August 13, 2010, the Board of Directors approved a Public Hearing be set for October 7, 2010, to receive public comment on the proposal..	Proposed implementation date is currently January 1, 2011.
Reduce Ferry Trips with Low Ridership (Initiative #9)	Press Release, August 3, 2010 Staff Report, August 6, 2010, Transportation Committee	Open House Meetings scheduled for 3:00-6:30pm on Tuesday, September 21 and Wednesday, September 22, 2010, at the Golden Gate San Francisco Ferry Terminal How to Comment	On August 13, 2010, the Board of Directors approved a Public Hearing be set for October 7, 2010, to receive public comment on the proposal..	Proposed implementation date is currently January 1, 2011.
Carpool and Multi-Axle Toll Increase Proposal (Initiative #23)	Staff Report, May 28, 2010, Finance Committee Public Hearing Notice, May 12 & 14, 2010 Press Release, February 11, 2010 Staff Report, February 11, 2010, Finance Committee Public comment period closed on May 14	April 2010 Open House Meetings Open House Materials	Toll Rate Changes Approved, May 28, 2010	Carpool Toll: July 1, 2010 Multi-axle Toll: July 1, 2011 and July 1, 2012
Proposal to Reduce GGT Commute Bus Service (Initiative #9)	Staff Report, May 27, 2010, Transportation Committee Public Hearing Notices, May 12 & 14, 2010 Press Release, March 12, 2010 Staff Report, March 11, 2010, Transportation Committee Maps Showing Proposed Bus Changes: Sonoma County, Marin County, San Francisco (up to 3MB) Public comment period closed on May 14.	April 2010 Open House Meetings Open House Materials	GGT Bus Service Reductions were approved on May 28, 2010, for implementation on September 12, 2010. Based on public input, the bus service reductions approved are slightly different from the original proposal.	September 12, 2010
Consider Implementation of All Electronic Tolling (Initiative #4)	Staff Report, April 9, 2010, Finance Committee Press Release, April 6, 2010		Feasibility Study Approved, April 9, 2010	Feasibility Study due to be completed and brought back to GGBHTD Board of Directors for public discussion in October 2010
Freeze Salaries of Non-Represented Employees and Officers an Additional Six Months (Initiative #18)	Staff Report, April 9, 2010, Finance Committee		Salary Freeze Approved, April 9, 2010	Salary Freeze extended an additional six months from July 1, 2010, December 31, 2010.
Implement Expanded Bridge Concession Opportunities (Initiative #22)	Press Release, April 2, 2010		Originally-proposed concept suspended	Not implemented; on hold indefinitely

GGBHTD Financial Plan, Adopted Oct. 2009

Financial Plan Initiatives Either Implemented or in Process