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7/13/2017
New Jersey Transit's board yesterday adopted a $1.367 billion capital program for fiscal-year 2018.The plan will continue the agency's financial commitment to implementing positive train control, NJ Transit officials said in a press release. In addition, the budget provides funds for railroad bridge rehabilitation, track replacement, signal upgrades, and repairs to overhead lines and electric substations. The program also allocates money for state-of-good-repair efforts on NJ Transit's Northeast Corridor line, which is its most used rail line. About 53 percent of the budget provides funds for the basic capital improvements needed to maintain and improve the system, NJ Transit officials said. That includes $201 million for rail infrastructure needs and $109 million for rail rolling stock improvements. Finally, the program includes $47 million for station improvements.The board also adopted a $2.218 billion operating budget for FY2018. Roughly $1 billion of its revenue comes from passenger fares. State and federal program reimbursements provide $947.7 million, with the balance covered by commercial revenues and state operating assistance, according to NJ Transit.