February's blizzard cost Metro $1 million in lost fares and extra expenses incurred as employes on overtime and temporary hires worked to dig the transit system out from under almost two feet of snow, Metro disclosed yesterday.

Metro administrative staff informed the Metro board's budget committee that the transit system lost about $530,000 in fares because of canceled bus and train trips. Extra costs incurred, including overtime pay, totaled about $470,000.

The snowstorm shut down the entire 39-mile rail system Feb. 11 and immobilized hundreds of buses on streets around the area.

Other unforeseen costs included a $1 million court award to the wife and five dependents of a highway worker who was struck and killed by a Metrobus in Fairfax County, $700,000 for bus maintenance programs and $228,000 for outside legal counsel concerning labor issues and other costs.

In other areas, Metro expects to spend less than it had budgeted, including a saving of $1.9 million in lower fuel costs and wages. After rising steadily because of union contract cost-of-living provisions, wages were lowered for the first time earlier this year, reflecting the lowered inflation rate. That cut a bus driver's basic wage after five years of service from $11.99 per hour to $11.94.

Though expected savings outweighed extra costs by about $1 million, the $180 million that state and local governments pay Metro in subsidy bills will not come down, because federal aid is now expected to be $1 million less than planned.

However, new ridership data and estimates on operating costs have changed the distribution of the $180 million subsidy among member governments, which pay subsidies on the basis of how much service they get and how many of their residents ride.

Projections that $1.9 million more would be due from the District, raising its fiscal 1983 bill to $84 million, drew immediate fire from D.C. board member Thomas Downs. "We don't have the $2 million," he said, calling on Metro to find ways to cut costs.

Also facing rising bills were Al- exandria (up $456,000), Fairfax County ($238,000) and Fairfax City ($30,000). Bills were expected to drop for Montgomery County (down $1,367,000), Prince George's County ($950,000), Arlington County ($331,000) and Falls Church ($3,000).

In other developments at Metro:

* The budget committee recommended that the board seek contractors to tunnel north from Forest Glen on the Red Line and build the Wheaton station. Estimated cost of the job is $82-$102 million.

* Montgomery County alternate Carlton Sickles said he planned to resign from the board, because of time pressure on his job as president of Carday Associates, a firmthat administers pension and health insurance funds.