The SEPTA Board approved Operating and Capital Budgets for Fiscal Year 2016, the 12-month period that begins July 1, during its regular monthly meeting on May 28, 2015. The budgets provide funds for the everyday expenses of running the transit system, and to further SEPTA’s capital improvement initiatives.
The Operating Budget for Fiscal Year 2016 is $1.36 billion, an increase of 2.84 percent over Fiscal Year 2015. The operating budget provides funding for the everyday costs of running the transit system, such as labor, fuel and power.
The Operating Budget maintains current SEPTA service levels, with no increase in fares. It includes resources for the permanent implementation of 24-hour weekend service on the Broad Street Line subway and Market-Frankford Line subway/elevated, which was launched as a pilot program last year.
The $534.54 million Fiscal Year 2016 Capital Budget proposal advances SEPTA’s “Rebuilding for the Future” initiative. The Authority embarked on this plan following the November 2013 passage of Act 89, which provides capital funds for transportation improvements throughout Pennsylvania.
With Act 89 funding in place, SEPTA is embarking on a number of initiatives to catch up on its $5 billion State of Good Repair backlog, with projects such as bridge and track replacement, reconstruction of stations and other facilities, and the purchase of new vehicles. “Rebuilding for the Future” provides the Authority with a road-map to tackle this work, along with initiatives that will expand capacity to address ridership growth, and improve accessibility for customers.
The SEPTA Board’s vote follows a series of public hearings and other opportunities for riders, stakeholders and other residents to provide input on the spending plans. An Independent Hearing Examiner considered this feedback and made recommendations to the SEPTA Board prior to its vote.
The full Fiscal Year 2016 Operating and Capital Budgets are available in the Reports section SEPTA’s website.