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10/11/2024
Chicago commuter railroad Metra has proposed an operating budget of $1.1 billion and a capital budget of $366.4 million for 2025.
If approved by Metra's board in November, the operating budget would maintain fares at current prices. It is supported mostly by sales tax revenue and the agency's dwindling federal COVID-relief aid. The capital budget is funded by federal and state funds. More information on the proposed budgets can be found here.
The operating budget includes $65 million for a capacity expansion on the Metra Electric Line, a necessary improvement for a planned service increase project by Northern Indiana Commuter Transportation District (NICTD). Metra is managing the project, and most costs incurred by Metra will be reimbursed by NICTD.
Excluding that cost, the proposed operating budget is 4.1% higher than the 2024 budget, due to inflation, contract and market increases, Metra officials said in a press release. Funds are budgeted for implementing new regulations, such as increased cybersecurity efforts and certification requirements for dispatchers and signal maintainers, positive train control upgrades, and marketing, Metra officials said in a press release.
The proposed operating budget is funded by Metra’s $304.1 million in revenue, including a projected $184.2 million in fare revenue. Regional sales tax receipts of $592.5 million and $238.4 million out of Metra’s remaining $331.8 million in federal COVID-relief funding pick up the rest of the budget.
The COVID-relief funding is expected to run out in 2026 at Metra.
“Lawmakers in Springfield are aware of the impending problem and have begun to work on potential solutions,” Metra officials said.
The proposed capital budget includes $93.8 million to rehabilitate and improve rolling stock; $101.8 million to repair and/or replace bridges, track and structures; $39.2 million to implement new system-wide cameras and perform other signal and electrical upgrades and repair; $57 million to upgrade facilities and equipment; and $34.9 million to improve some stations and parking structures.
The capital program is funded with $242.3 million in federal formula funding, $29 million in federal Congestion Mitigation and Air Quality funds, $88.6 million in state PAYGO funds, and $6.5 million in RTA Innovation, Coordination and Enhancement (ICE) funds.