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The agency is also releasing results of an independent Efficiency Review conducted by Ernst & Young, which found limited opportunities to cut costs without reducing transit service.
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The budget keeps essential transportation improvements moving forward while responsibly planning for a balanced and sustainable transportation future for Orange County.
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During the budget process, MTS staff was informed that $284 million new State grant funding was being frozen indefinitely as the State continued to balance its budget.
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As we approach July 1, many public sector organizations across the country have fiscal years that begin at the midpoint of the year. To that point, many public sector executives believe that "adopting the budget" is the single critical event of their year.
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The $1.6 billion budget includes $654.5 million in net operating funds and $909.2 million for capital programming.
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The operating budget totals $539.3 million, an increase of less than 1% over last year’s budget, reflecting changes in inflation, rising costs in goods, and a labor shortage that is affecting transit agencies across the country.
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The report comes as the agency prepares to move forward on a major slate of vital capital projects to be funded by congestion pricing.
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In total, 64 projects will be funded by the Capital Improvement Project.
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The $4.5 billion capital and operating budget proposal provides a worst-case scenario; however, WMATA’s funding partners are currently working through legislation that may reduce some of the most detrimental fare and service changes proposed.
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The $2.6 billion combined operating budgets for both conventional and Wheel-Trans paratransit services and represents a 7.5% increase over the approved 2023 budget.
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