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Rail News Home Financials

9/28/2011



Rail News: Financials

Houston Metro's board to consider FY2012 budget


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The Metropolitan Transit Authority of Harris County, Texas, (Metro) has proposed a fiscal-year 2012 budget that would include an accelerated pace of rail construction in the North, Southeast and Harrisburg East End light-rail lines.

The FY2012 financial plan, as outlined by Metro President and Chief Executive Officer George Greanias in a document posted on the agency’s website, calls for a $430 million operating budget and $556.6 million capital budget. Revenue is based on anticipated 5 percent sales tax growth and no base fare increases.

“Moving into FY2012, the new Metro will focus on four tasks: delivering smart service, building rail, rightsizing the organization and preparing for the future,” Greanias wrote in the budget’s executive summary.

As for rail construction, in FY2012 “we will successfully conclude negotiations for two Full Funding Grant Agreements that will award the authority $900 million for the North and Southeast projects,” Greanias wrote. “We will also maintain our commitment to completing the Harrisburg East End line solely with local funds.”

Tomorrow, a public hearing will be held on the budget proposal. Metro’s board is scheduled to consider the budget and other key items in a meeting after the hearing. The other items to be considered include the procurement of light-rail vehicles for new lines currently under construction and a final decision on names for stations along the expanded rail lines, Metro officials said in a prepared statement.