This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
1/15/2024
The Virginia Railway Express (VRE) fiscal-year 2025 budget has received final approval last week as the second of its two parent commissions approved the budget and accompanying six-year capital improvement program (CIP).
VRE’s FY2025 operating budget totals $119.9 million, which includes operations, maintenance and existing debt service. This is an increase of $11 million, or 10%, over the FY2024 operating budget. The budget includes increases to fares of 5% and jurisdictional contributions of 14%. Both take effect July 1. VRE's last broad-based fare increase was 3% in FY20, VRE officials said in a news release.
The budget allows for the first operation of VRE Saturday service, eliminates fares for those ages 18 and under, and simplifies fare payment options. Agreements with VRE's host railroads — Amtrak, CSX and Norfolk Southern Railway — must be reached before Saturday service can begin.
VRE's $1.3 billion CIP, which is about two-thirds funded, includes improvements at 12 stations, three maintenance and storage facilities and one parking lot. Construction of a new parking garage, the purchase of rolling stock and projects pertaining to both asset management/state-of-good-repair and information technology are also contained in the CIP.