New Jersey Transit's (NJ Transit) Executive Director James Weinstein announced plans to unveil a new initiative that will provide the public with a measurement of how the corporation is performing.

The "Scorecard" initiative will use metrics to set corporate-wide standards of accountability and create transparency for the public, helping NJ Transit make strategic decisions to maximize its resources as well as illustrating how the agency is managing its bottom line.

In addition, the Scorecard will show the agency's strengths and weaknesses, providing clear insight into where the agency needs to improve to provide a greater return to the taxpayer.

"For the first time, the taxpayers of New Jersey and our customers alike will have a clear window into how we are performing," said Weinstein. "By committing to this effort, we will hold up the Scorecard as the standard by which we get measured by the people who use our system every day."

NJ Transit will launch the Scorecard in July to coincide with the corporation's new Fiscal Year 2012. Scorecard results will be reported and updated quarterly on its website.

A system of metrics is currently in development to provide a baseline for measuring NJ Transit's performance in five areas: Customer Satisfaction, Safety and Security, Financial Health, Service Accountability and Workforce Engagement. The baseline will also incorporate information gathered from quarterly customer surveys, the first of which will be posted on its website in April and distributed to customers throughout the system.