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6/8/2026
Caltrain's board on June 4 approved a balanced operating budget for fiscal-year 2027 as well as a slate of efficiency recommendations that address the rail agency's long-term financial challenges.
The nearly $270 million FY27 operating budget has funds coming from multiple sources, including fares, GoPass, Measure RR, parking and rental income, State Transit Assistance, and notably, a one-time loan from the state of California through the Metropolitan Transportation Commission (MTC), Caltrain officials said in a press release.
With the balanced budget, Caltrain will be able to continue running its electric commuter-rail service as planned. Caltrain was able to close the gap between revenue sources and expenses by limiting cost increases across operations, reducing professional services and securing the one-time state loan. Additionally, continued ridership growth has contributed to higher-than-anticipated fare revenue. Since 2020, Caltrain has achieved cost savings of $76 million, agency officials said.
Despite these efforts, Caltrain will still face a funding gap of about $75 million starting in FY28. Absent a new, reliable funding source via a regional measure or other external support, the agency will be forced to cut services and staff in future years, Caltrain officials said.