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Austin transit agency approves FY2015 budget

Capital Metro's board in Austin, Texas, earlier this week approved a $322.1 million budget for fiscal-year 2015, which runs from Oct. 1 to Sept. 30, 2015.

The new budget, which took effect Wednesday, includes $222.8 million for operating expenses, $4.6 million for loan repayments and $12.8 million for interlocal agreements, Capital Metro officials said in a press release.

Also in FY2015, the agency has budgeted $81.9 million for capital projects, including track relocation work, an East subdivision quiet zone for freight rail, positive train control implementation, a rail and tie replacement program, and a rail timber and surface replacement program.

"After years of hard work, careful planning and tough choices, we continue to strengthen our financial position," said Capital Metro President and Chief Executive Officer Linda Watson. "Our FY2015 budget is balanced, our operations are efficient and we are more committed than ever to providing high-quality transit options for Central Texas."

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More News from 10/3/2014