The SEPTA Board today approved Operating and Capital Budgets for the upcoming fiscal year – spending plans that provide funds for the everyday costs of running the transit system, and for critical improvement projects. The budgets cover Fiscal Year 2017, which is the 12-month period beginning July 1, 2016.
The SEPTA Board’s approval follows a series of public meetings on the budget proposals earlier this spring. The Operating Budget, which provides day-to-day funding for expenses such as labor, fuel and power, is $1.4 billion, an increase of approximately 3 percent over Fiscal Year 2016. The Operating Budget maintains current service levels, with no fare increase for riders.
The Fiscal Year 2017 Capital Budget and 12-Year Capital Program advances initiatives to renew critical infrastructure, replace aging portions of SEPTA’s fleet and expand capacity for growing ridership. The $548.63 million spending plan for FY 2017 advances SEPTA’s “Rebuilding the System” initiative. The Authority embarked on this plan following the November 2013 passage of Pennsylvania Act 89, which provides capital funds for transportation improvements throughout the Commonwealth.
In the coming year, SEPTA will move ahead with projects such as its bridge program, including the Crum Creek Viaduct replacement – an initiative to renew a critical span along the Media/Elwyn Line that dates back to the late 1800s. Other major initiatives include:
- Communications, Signal Systems and Technology Improvements
- Safety and Security Improvements
- SEPTA Key – fare modernization project
- Stations, Loops and Parking Improvements
- Substations and Power Improvements
- Track and Right-of-Way Improvements
- Vehicle Acquisitions and Overhauls
To view or download the full budget documents, go to http://www.septa.org/reports.