Rail

Metra will hold fares steady, budget $2.6B for capital improvements

Posted on September 11, 2019

Preliminarily, Metra expects its overall operating budget to increase by $5 million next year, from $822 million in 2019 to $827 million in 2020.
Metra
Preliminarily, Metra expects its overall operating budget to increase by $5 million next year, from $822 million in 2019 to $827 million in 2020.Metra

Chicago’s Metra will not raise fares in 2020, the second year in a row that it has not asked customers to pay more. The agency also announced that it will budget $2.6 billion for capital improvements over the next five years, with a priority on railcars, locomotives, stations, bridges, and service improvements.

As it does every year, Metra searched for ways to control or reduce its operating costs to head off the need for a fare increase. This year it identified about $5 million in efficiencies. In addition, it expects to save about $7 million by not filling vacancies and about $9 million by reducing overtime and other miscellaneous expenses.

The $21 million in reductions will help offset an expected $26 million increase in operating expenses next year, including about $7 million in new operating expenses associated with Positive Train Control (PTC) and about $19 million in labor and various other operating expenses.

Preliminarily, Metra expects its overall operating budget to increase by $5 million next year, from $822 million in 2019 to $827 million in 2020. Higher revenues from the regional transportation sales tax, which funds a little more than half of Metra’s operating budget, will cover that $5 million and no fare increase will be needed.

Metra also unveiled a preliminary capital program that includes nearly $2.6 billion in funding over the next five years, a significant increase from recent years thanks to the new state capital program. Metra expects to receive about $215.5 million in each of the next five years from the sale of state bonds, and an additional $73.8 million a year from “Pay Go” funding tied to a higher state fuel tax, for a total of $1.45 billion in new state money. That money will be added to $962 million in expected federal funding, $145.8 million in expected RTA funding and $26 million in Metra fare revenue devoted to capital needs.

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

More News

Sound Transit lands FTA Full Funding Agreement for light rail extension

The project will serve a dense suburban corridor where the existing roadway network is constrained and travel options are limited to two congested roadways.

Metrolink completes $32M train station modernization project

The theme of the Van Nuys Station honors the long-closed General Motors assembly plant, which from 1947 to 1992 produced cars.

NY MTA unveils first look of next-gen subway cars

Board approved the $1.4 billion contract award of 535 R211 cars to Kawasaki Rail Car Inc. in 2018.

BART to launch ambassador program on trains for safety, security

Uniformed personnel will be equipped with radios to report safety and security concerns or biohazards.

WMATA's rail ridership up 20K trips on weekdays in 2019

The agency reports that customer-focused improvements implemented last year contributed to the increase in rail ridership.

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