Bi-State reports improved revenue but flags $7 million prior-year shortfall for county discussion

Tammy Paris, Bi-State Development's chief financial officer, presented preliminary financial results through Nov. 30 and highlighted a mixed picture: year-to-date revenue is above budget while expenses are below budget for the reporting period, but a $7 million shortfall from the prior year remains unresolved.

Paris said total revenue was roughly $3.9 million above budget as of the reporting date, with passenger revenue up about $1.1 million; she noted sales tax receipts have shown swings but are improving and overall sales tax was up about 3% at the time of the report. Expenses for the reporting period trailed budget (approximately $143 million actual versus $149.6 million budgeted), in part due to timing of service-line and contract payments.

Paris told commissioners Bi-State expects to hold a Committee of the Whole meeting with St. Louis County council leadership in January to review the $7 million prior-year shortfall and related documentation; she said additional information has been supplied to the county's budget director and a date is being arranged.

Commissioners asked whether a date was set and what contingency planning might occur if the shortfall is not resolved; Paris said no final date had been set but confirmed discussions were ongoing and that Bi-State will report back once a meeting is scheduled.