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12/22/2006



Rail News: Rail Industry Trends

SEPTA to use capital funds to balance operating budget



Yesterday, the Southeastern Pennsylvania Transportation Authority (SEPTA) announced it will balance its $991 million operating budget by transferring $36.8 million from its capital budget.

The transfer of funds will enable SEPTA to maintain fares and service levels, but delay several projects, such as modernizing the fare-collection system, upgrading electrical substations and rehabilitating subway stations.

Authority officials hope next year, the state government will approve a long-term dedicated funding source for Pennsylvania's transit agencies.



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