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Southeastern Pennsylvania Transportation Authority (SEPTA) recently approved its $875 million fiscal-year 2004 operating budget, enabling the authority to adopt a contingency budget while it works with state government to address a $55 million budget deficit.



The approved budget would cut the deficit by $14 million through service and administrative expense reductions, and higher parking fees.



SEPTA’s preliminary budget included eliminating rail and bus lines, reducing more service and increasing fares. All have been postponed pending state fund allocations, which will be known once the authority is ready to adopt the FY 2004 budget. At that time, SEPTA officials plan to review available financial resources and present a balanced budget to the board.



The authority still might increase fares and cut services if the state does not provide sufficient funds, according to a prepared statement.