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12/22/2003



Rail News: Rail Industry Trends

GCRTA approves FY2004 budget



Greater Cleveland Regional Transit Authority (GCRTA) recently approved a $224.5 million operating budget and $151.5 million capital budget for fiscal-year 2004.

Between 2001 and 2006, authority officials estimate the agency will lose $85 million due to decreased sales-tax revenue. But the FY2004 budget includes no layoffs, service reductions or fare increases, according to a prepared statement.

In 2004, GCRTA plans to spend $18.8 million on fare-collection equipment, and materials to repair track and overhaul rail cars.

The budget includes $25.3 million for rail projects, such as relocating, reconstructing, designing and building stations, upgrading a signal system, replacing a tunnel crossover, and rehabilitating the Green and Blue light-rail lines.


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