Metro - File #: 2026-0337

• File #: 2026-0337
• Type: Oral Report / Presentation
• Status: Agenda Ready
• File created: 4/28/2026
• In control: Measure M Independent Taxpayer Oversight Committee
• On agenda: 6/3/2026
• Title: RECEIVE oral report on review of the FY27 Budget.
• Sponsors: Board of Directors - Regular Board Meeting
• Indexes: Americans With Disabilities Act, Arroyo Verdugo subregion, Budget, Budgeting, Bus rapid transit, Capital Improvement Program, Cleaning, Cleanliness (Graffiti Abatement), Customer Experience Plan, Customer service, Debt, Elevators, Escalators, Funding plan, Grant Aid, Light rail transit, Link Union Station, Location 99, Low-Income Fare is Easy (LIFE), Maintenance practices, Measure M, Metro Busway G Line, Metro ExpressLanes, Metro Rail A Line, Metro Rail D Line, Metrolink, Multimodal, NextGen Bus Study, Oral Report / Presentation, Outreach, Pasadena, Public Hearing, Regional development, Retrofitting, Safety, Safety and security, Security, Slide, Subsidies, Torrance, Transportation Development Act - Article 4, Transportation Development Act of 1971

Meeting_Body
MEASURE M INDEPENDENT TAXPAYER OVERSIGHT COMMITTEE
JUNE 3, 2026

Subject
SUBJECT: ORAL REPORT ON THE FY27 BUDGET

Action
ACTION: RECEIVE ORAL REPORT

Heading
RECOMMENDATION

Title
RECEIVE oral report on review of the FY27 Budget.

Issue
ISSUE

California Public Utilities Code Section 130105 requires Metro to adopt an annual budget to manage the revenues and expenses of the Agency's projects and programs. The budget is the legal authorization to obligate and spend funds and to implement Board policy. It includes all operating, capital, planning and programming, subsidy funds, debt service requirements, and general fund activities for the fiscal year. The legal level of control is at the fund level. Total annual expenditures cannot exceed the final appropriation by the Board at the fund level except for capital expenditures, which are authorized on a life-of-project basis.
On May 5, 2026, the FY27 Proposed Budget was made available to the public on the Metro website and through the Records Management Center located on the plaza level of the Gateway building. Advanced public notification of the Budget Public Hearing was issued 30 days and 15 days prior to the scheduled date through advertisements posted in more than ten news publications in various languages. A public hearing of the proposed FY27 Budget was held on May 21, 2026. The Board adopted the FY27 Budget on May 28, 2026.

In addition to providing a report on the FY27 Budget, staff will provide information requested by the Committee during the March 4, 2026 meeting, regarding federal revenues budgeted in recent years and strategies for addressing fluctuations in Measure M fund balances.

Equity Platform
EQUITY PLATFORM

Metro's commitment to equity is embedded in the FY27 Budget development process through the continued application of Equity Zero-Based Budgeting (EZBB). Guided by the pillars of 'Listen and Learn' and 'Focus and Deliver,' Metro is ensuring that resource allocation dire...