TriMet's FY2014 budget contains no fare increases, service cuts

Yesterday, the Tri-County Metropolitan Transportation District of Oregon's (TriMet) board adopted a $485 million operating budget for fiscal-year 2014.

The budget includes no fare increases or service cuts, but does increase funding for light-rail vehicle and track maintenance, and improved lighting and station renewal along the MAX system at a cost of $9.5 million, according to an agency press release.

The budget also calls for increasing the contribution to the union unfunded defined benefit pension fund by $4 million in FY2014 and $2 million in FY2015.

"We are committed to reinvesting in our transit system; updating our aging [bus] fleet; and making targeted improvements for our riders and employees to ensure long-term reliability, safety and comfort," said TriMet General Manager Neil McFarlane.

The operating budget is continent on an arbitration award for the expired contract with the Amalgamated Transit Union being upheld, as well as an agreement on the agency's new contract offer, TriMet officials said.