NJ Transit passes FY 2014 budget

Posted on July 11, 2013

The New Jersey Transit (NJ Transit) board of directors approved a Fiscal Year 2014 (FY 2014) operating budget that calls for no fare increase for the fourth consecutive fiscal year. The new budget also includes a capital program that supports continued investments in infrastructure and equipment to maintain the system in a state of good repair and improve the overall customer experience.

“This budget will enable us to maintain and enhance New Jersey’s robust transportation system while responding to the needs of the customers who rely on our service to conduct life’s daily business,” said NJ Transit Executive Director James Weinstein. “We made a commitment to continue to hold the line on customer fares, and we are delivering on that commitment by implementing sustainable and fiscally responsible operating and capital programs.”

The board approved a $1.941 billion operating budget and a $1.228 billion capital program for the fiscal year that started July 1, 2013.

Nearly one-half of the revenue in the FY 2014 operating budget comes from fares ($920.6 million), with the balance from a combination of commercial revenues ($113 million) and state operating assistance ($73.2 million) as well as other state and federal reimbursements ($834.2 million).

The capital program funds continued state-of-good-repair investments in transit stations and infrastructure supports an ongoing fleet modernization program and advances service reliability, safety and technology initiatives.

View comments or post a comment on this story. (0 Comments)

More News

Fla.'s HART partners with Megabus.com to pilot service option

The agency is already providing enhanced routes and options through a unique 5-year partnership agreement with Megabus.com which began last year, to offer express travel to and from Miami and Orlando for as little as $1.

BusCon 2015 takes Indy by storm with new vehicles, tech and education

The 20th installment of the show featured more than 50 new exhibitors, 70-plus vehicles and plenty of information to inspire attendees.

House moves to delay PTC deadline

A bipartisan measure has been introduced in the lower chamber that would push back the deadline for most railroads to install automated train technology until December 2018.

Volvo celebrates new Nova, Prevost customer delivery center

The new Plattsburgh, N.Y., building will be equipped of a welcoming customer area, 10 bus delivery spaces and offices to enable our customers to continue their professional activities during their stay.

Webinar Helps Passenger Fleet Managers Understand Hybrid Options

Fleet managers for transit agencies, universities and schools, governments and for-hire transit companies are encouraged to register while spaces are still available.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close