First CATS budget with new tax money to be revealed next week
BATON ROUGE- For the first time since voters approved a controversial tax in the spring to fund city public buses, leaders with the Capital Area Transit System will present its full operating budget for 2013.
The budget will include the full tax revenue and could amount to $18 million, though, that's a high estimate.
Prior to the vote, CATS warned it would use-up it's revenue stream, become broke, and cut many of its services.
The budget was set at $12 million.
In April, CATS board member Jared Loftus said about the budget, "at $12 million we're still at a $2 million deficit for this year because of increased cost and unfunded mandates where we have to provide service at specific levels."
Voters in Baton Rouge and Baker approved the property tax. Voters in Zachary denied it.
The tax will mean an additional $106 per year for each $100,000 in assessed value on property.
The budget with the updated figures for 2013 will be released Tuesday. The board isn't expected to approve it until a month later, at the December board meeting.