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Yesterday, New Jersey Transit’s board approved a $1.9 billion operating budget and $1.2 billion capital program for fiscal-year 2012, which began July 1.

The budget calls for $881 million in fare revenue, $104.3 million in commercial revenue, $309.4 million in state operating assistance, and $600 million in state and federal reimbursements, NJ Transit officials said in a prepared statement.

The capital program included funds for continued investment in state-of-good-repair work and fleet modernization, including the procurement of more than 400 multi-level rail cars and 50 electric and dual-power locomotives. About $217 million will go toward rail projects, including $37 million to replace track and ties, and to inspect bridges. About $41 million will be used to advance electric traction and signal improvements, and $5 million will fund ongoing locomotive reliability.

The capital program also includes $125 million for light-rail and bus repairs, including $2 million for Newark light-rail infrastructure improvements.

Meanwhile, the board also approved the second and final phase of the Pennsauken Transit Center, which will create a link between the River Line light-rail route and Atlantic City Rail Line. The board authorized a $13.8 million construction contract for Terminal Construction Corp.

In addition, the board unveiled the agency’s first ever “scorecard” management and reporting tool, which is designed to make statistics and performance data accessible to the public. The scorecard will measure the agency’s customer experience, safety and security, financial performance, corporate accountability and employee excellence.