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10/30/2017



Rail News: Financials

WMATA proposes $3.1 billion budget for FY2019


The budget doesn't include fare increases or service cuts.
Photo – WMATA/Larry Levine

The Washington Metropolitan Area Transit Authority (WMATA) late last week unveiled a $3.1 billion budget for fiscal-year 2019, which will begin July 1, 2018.

Although the budget calls for increased funding for safety and reliability capital improvements, the plan won't require any fare increases or service cuts, agency officials said in a press release.

However, the budget will require a $165 million year-over-year increase in funding from Virginia, Maryland and Washington, D.C. — WMATA's three jurisdictions.

The budget allocates nearly $1.3 billion for capital expenses, including the delivery of the remaining 7000-series rail cars. The proposal also includes funds to address the backlog of track and structure, rail power, and radio and wireless systems.

The plan includes nearly $1.9 billion for operating costs, which would be a 1 percent increase from the FY2018 budget.

"This proposal builds on our success in investing capital to deliver projects that improve safety and reliability, which is critical to winning back riders," said WMATA General Manager and Chief Executive Officer Paul Wiedefeld. "This budget also doubles down on management cost controls to ensure we have squeezed the value out of every dollar that we spend delivering service to the region."



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