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3/15/2024
TriMet's proposed $1.75 billion budget for the fiscal-year 2025 focuses on growing the Portland, Oregon, transit agency's ridership, improving the rider experience and adding service, agency officials announced this week.
The budget calls for $849 million for daily operations, $201 million for capital investments and $58 million in pass-through and contingency funds. It also includes $642 million in ending fund-balance totals, which are unappropriated and unavailable for spending in FY25, according to a TriMet press release.
TriMet's next fiscal year begins July 1 and runs through June 30, 2025.
The proposed safety and security budget for FY25 is quadruple what it was in FY22, the release stated. TriMet more than doubled the number of security personnel on the transit system in the last year. Today, there are more than 350 unarmed security personnel.
About 91% of funding for FY25 operating resources comes from payroll tax revenue, passenger revenue and federal funds. For FY25, TriMet expects to receive $540 million in payroll taxes; $62 million in passenger fares; and $139 million from federal operating grants.
Meanwhile, the San Diego Metropolitan Transit System (MTS) Board has approved a $243.3 million capital improvement budget for FY25. This is the largest annual capital improvement program budget in the agency's history, according to an SDMTS news release.
As part of the budget, 78% will help maintain bus and rail systems in good condition, followed by facility and construction, rail infrastructure improvements, and other major initiatives. In total, 64 projects will be funded. Top funding allocations include:• $69.5 million for rail infrastructure improvements and maintenance;• $58.3 million for 38 new buses including 10 battery-electric and 28 compressed natural gas;• $38.8 million for overhead charging infrastructure at each existing division to support conversion to an all-electric bus fleet;• $21 million for 22 new trolley vehicles. Funding will be added to the $71.7 million previously funded to replace aging vehicles in the fleet; and• $21.3 million for trolley and bus facilities maintenance and construction, and construction projects for passenger facilities at transit centers.