The FY2013 operating budget is down from the $370.2 million budget in FY2012. But the new budget is balanced and assumes no additional outside funding, port authority officials said in a prepared statement. The fare increase takes effect July 1 while service reductions take effect Sept. 2.
“We continue to work with state, county and union leadership on on a solution in the hopes of avoiding the September service reductions,” said Steve Bland, the port authority’s chief executive officer.
The board also approved a $138 million capital improvement budget for FY2012-13 and a $135 million capital improvement budget for FY2013-14.
Meanwhile, two light-rail stops at Smith Road and Sandy Creek T — which were slated to close yesterday — will remain open after further evaluation by county and port authority officials. Eleven other stops along the light-rail lines were eliminated in an effort to make the system more efficient, port authority officials said.
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