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Rail News: Financials

Austin's Cap Metro OKs FY2018 budget

The buget includes funds to double frequency and capacity of the agency's commuter-rail service.
Photo – Capital Metropolitan Transportation Authority

The Capital Metropolitan Transportation Authority (Cap Metro) in Austin, Texas, late last week approved the agency's $418.8 million budget for fiscal-year 2018, which began Oct. 1.

The budget includes $250 million for operating expenses and $151.5 million for capital investments. Major capital projects include rail improvements to double the frequency and capacity of MetroRail service, as well as positive train control (PTC) implementation for the system.

Cap Metro also allocated $9.7 million for the construction of a new, larger rail station in downtown Austin.

Additionally, the adopted budget will provide funding for the continued replacement of vehicles, equipment and other assets, Cap Metro officials said in a press release.

Contact Progressive Railroading editorial staff.

More News from 10/5/2017