TriMet must cut $27M

TriMet must slash $27 million from its fiscal year 2011 budget.

The cuts come after the agency spent the year reducing bus routes and running fewer buses along some lines. The agency cited the continued recession and declining payroll tax revenue, which local cities funnel to TriMet to pay for its services.

Mary Fetsch, a TriMet spokeswoman, said in a release that service cuts will offset some of the losses. TriMet had cut $31 million from its budget last year partly by reducing bus arrival frequency rates by two to four minutes during off-peak hours.

Still, TriMet acknowledged that its operating and non-operating revenue rose during the 2009 fiscal year, to $407 million. Its expenses also rose, to $493 million. Those expenses included unfunded post-employment benefits, listed at $45 million. The 2009 fiscal year ended June 30.

Fetsch said the agency will hold three months worth of open houses as it mulls future cuts.

Fred Hansen, TriMet’s general manager, will detail the budget specifics for media members on Thursday.