Media Kit » Try RailPrime™ Today! »
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.




railPrime
View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home Rail Industry Trends

7/16/2004



Rail News: Rail Industry Trends

NJ Transit approves FY2005 budget


advertisement


Today, New Jersey Transit adopted a $1.3 billion operating budget and $1.2 billion capital budget for fiscal-year 2005.

The budget includes funds to operate the Frank R. Lautenberg Rail Station at Secaucus Junction and the River Line, which opened in FY2004, and the Hudson-Bergen light-rail extension, scheduled to open later this summer.

The agency cut $27 million in administrative costs, but expects overall costs to rise less than 3 percent. The budget projects $618.7 million in fares and other system-generated revenue, $278.7 million in state operating assistance — an $84.9 million increase from FY2004 — and $444.8 million from other state and federal authorities. The agency expects ridership to increase 4 percent in FY2005 because of new stations and services, resulting in a $21.9 million increase in passenger revenue.

NJ Transit’s capital budget provides $253 million for "state-of-good-repair" needs, including $31 million to rehabilitate the Morris & Essex line viaduct, $13 million to overhaul rail cars and $42 million for Northeast Corridor repairs; $62 million for system-wide improvements, including $9 million for technology upgrades and $15 million for public address systems; $76 million for rail station improvements; and $7.5 million to expand park and rides.


Contact Progressive Railroading editorial staff.

More News from 7/16/2004