Bus

CapMetro passes FY2013 budget

Posted on September 25, 2012

Austin, Texas’ Capital Metro board of directors adopted a $274.5 million project and operating budget for FY2013, which takes effect Oct. 1, 2012. The budget was approved in a unanimous vote.

Adopted was a $193.9 million operating budget, a $64.3 million capital budget and $16.2 million to fund interlocal agreements and other expenses.

“Through sound management and board policy direction, the FY2013 budget was balanced without reducing service levels or increasing fares, which were two key agency goals,” said Capital Metro President/CEO Linda Watson. “In addition to those two important factors, the new budget allows us to continue building our reserves, which will keep us strong and financially stable in the years to come.”

The FY2013 budget funds several strategic priorities for the agency, including a new business model for delivering service, the MetroRapid project and Positive Train Control.  

The new budget allocates $19.9 million in federal grant funding and $5 million in local matching funds to continue the implementation of the MetroRapid project, which held its official groundbreaking ceremony in September.

Also included is funding for state-of-good-repair needs that can no longer be deferred, such as bus replacements, computer hardware and software upgrades and radio replacement.

The budget allocates $15.1 million for the replacement vehicles, $9.3 million for various rail projects, and $5.3 million in grant funding with $2.2 million in local matching funds that will be used primarily for computer upgrades and GPS technology for real-time bus tracking.   

In addition, the budget includes a five-year capital improvement plan, which has been estimated at $170 million through 2017. 

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