Progressive Railroading

Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.





RAIL EMPLOYMENT



Rail News Home Financials

9/30/2011



Rail News: Financials

Capital Metro OKs FY2012 budget


advertisement

Yesterday, the Capital Metropolitan Transportation Authority's board adopted a $172.9 million operating budget and $20.6 million capital budget for fiscal-year 2012, which begins Oct. 1. The board also approved $13.1 million for long-term commitments and inter-local agreements.

Although agency officials expect a 3 percent increase in sales tax revenue in the next fiscal year, they anticipate a decrease in all other revenue sources, including federal, according to a prepared statement.

Still, the total $206.6 million budget is balanced and will maintain “comparable” rail and bus service, Capital Metro officials said.

The agency plans to use $500,000 from its reserve funds to balance the budget in the first few months of the new fiscal year. In addition, Capital Metro plans to refinance its rail-car lease in January 2012, which will produce savings that can be placed back into reserves, officials said.

The operating budget freezes administrative employees’ salaries, but includes step increases for bargaining employees based on seniority and certifications per labor union agreements.








Contact Progressive Railroading editorial staff.

More News from 9/30/2011