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Rail News: Passenger Rail
4/4/2003
Rail News: Passenger Rail
SEPTA: Increasing fares, reducing service to address budget deficit
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Southeastern Pennsylvania Transportation Authority (SEPTA) plans to increase fares and cut service to address a $55 million fiscal-year 2004 budget deficit.
State subsidy cuts, and increases in health insurance, prescription drugs, pensions, electrical power, and labor costs have contributed to a projected $40 million increase in the authority’s FY 2004 operating budget.
State law mandates that SEPTA’s budget balance equally between money generated by fares, and state and local subsidies. The authority’s $888 million budget provides money to staff, maintain and operate the system.
Possible cost-cutting strategies include discontinuing service on four rail lines, closing nine stations and eliminating some weekend service, according to a prepared statement. SEPTA also plans to increase fares 5.5 percent.
State subsidy cuts, and increases in health insurance, prescription drugs, pensions, electrical power, and labor costs have contributed to a projected $40 million increase in the authority’s FY 2004 operating budget.
State law mandates that SEPTA’s budget balance equally between money generated by fares, and state and local subsidies. The authority’s $888 million budget provides money to staff, maintain and operate the system.
Possible cost-cutting strategies include discontinuing service on four rail lines, closing nine stations and eliminating some weekend service, according to a prepared statement. SEPTA also plans to increase fares 5.5 percent.
