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6/7/2023
Caltrain's board has approved budgets covering fiscal years 2024 and 2025 for the California commuter railroad.
The FY2024 operating budget is $192.7 million, while the year’s capital budget is $510.2 million. In FY2025, the operating budget is $238.1 million and the capital budget is $74.6 million. FY2024 begins July 1, 2023.
The operating budgets rely on Measure RR — a $3.5 billion fund to rebuild the backbone of Bay Area Rapid Transit — as well as gradual ridership recovery and utilization of State Transit Assistance (STA) carry-forward funds, Caltrain officials said in a press release. STA funds are generated by a state sales tax on fuel and diesel fuel.
The FY2024 operating budget will fund Caltrain’s highest-ever levels of service at 104 trains per weekday. The transit agency has increased its midday and evening service frequency in order to appeal to more riders, Caltrain officials said. The budget also covers service expansion to South Santa Clara County and the launch of electrified service expected in fall 2024.
The FY2024 capital budget covers long-term infrastructure improvement and maintenance projects, including maintenance work on stations and intermodal access, right of way signals and communications and rolling stock. Funding also is included for the Guadalupe River Bridge and San Francisquito Creek Bridge replacement projects, ROW fencing, a tie replacement project, improved visual messaging signs at stations, improved storm drains and state-of-good-repair work.
Both capital budgets are funded through federal, regional and state grants; local dollars; and member agencies Santa Clara Valley Transportation Authority, San Francisco Municipal Transportation Agency and San Mateo County Transit District.
Meanwhile, Caltrain is suspending service between the San Francisco and Millbrae stations the next two weekends in anticipation of electrification construction and testing. Crews will continue to erect poles and hang wires for the overhead catenary system, and install and test signaling equipment.