Management & Operations

NJ TRANSIT juggles next year's budget to fill $46M budget gap

Posted on June 16, 2016

Aude
Aude

NEWARK, N.J. — Interim Executive Director Dennis Martin said NJ TRANSIT plans to cover the agency’s $46.3-million budget gap this year by dipping into cash reserves, The Record reports.

For the next year, the agency will keep its operating budget essentially flat and reduce spending on construction projects by $416 million. The agency plans to spend $2.111 billion on operations in fiscal year 2017, which is $4.5 million less than this year.

Even if the agency appears to have dodged a bullet for now by balancing its budget without cutting service or hiking fares, observers worry the budget released shows NJ TRANSIT still faces serious long-term financial problems. For the full story, click here.

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

More News

Waymo begins offering rides in self-driving cars

Waymo, Google's self-driving car project, and Fiat Chrysler haved teamed up to offer rides to the public so that it can get feedback on the experience.

King County Metro, Intersection extend advertising contract

The agency first tapped Intersection in 2005, when, operating as Titan, the company won a competitive contract granting the exclusive rights to sell advertising on its 1,400 buses and facilities

BAI Communications acquires inMOTION Wireless

In 2014, inMOTION was awarded an exclusive 22-year license by Boston’s MBTA to design, build, finance, and operate a multi-application high-speed network along the MBTA Commuter Rail System and on MBTA ferries.

Calif.'s Big Blue Bus rolls out mobile ticketing app

The program will be evaluated after a six-month period to determine whether customers feel that the app fare payment is beneficial, in addition to BBB staff determining the cost/benefit of adding the app to BBB’s suite of fare media products.

Pace mourns death of Bolton, former deputy exec. director

He passed away in the early hours of April 15, 2017, after battling pancreatic cancer. He was 69.

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational 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