LA Metro, TriMet approve FY2024 budgets

The Los Angeles County Metropolitan Transportation Authority (L.A. Metro) and Tri-County Metropolitan Transportation District of Oregon (TriMet) last week approved budgets for fiscal-year 2024.

The L.A. Metro board approved a $9 billion budget for the year, which includes funds for an equitable service plan to improve service frequency and better cleanliness and safety, L.A. Metro officials said in a press release.

The FY2024 budget is 2.6% higher than FY2023's $8.7 billion budget, they added. The new fiscal year will begin July 1.

The budget includes $290.5 million to improve customer safety, up 3.7% over the FY2023 budget. L.A. Metro has reassessed its approach to public safety and is implementing changes that include "ambassadors," transit security officers, contract security, law enforcement and mental health outreach teams, L.A. Metro officials said. The funds also will go toward adding security cameras, fare gates, lighting and other security infrastructure.

The budget includes $2.2 billion for transit infrastructure development for multiple projects under construction, including full-scale construction to begin on the G Line improvement project, the Airport Metro Connector and the Purple Line extension project.

Meanwhile, TriMet's board approved a $1.93 billion FY2024 budget, which includes a fare increase to take effect Jan. 1, 2024. The operating budget is $825.4 million and the capital budget is $328.3 million.

The new fare price is expected to increase revenue by $5.3 million annually, but that figure is expected to rise as the transit agency expands service and ridership rebounds, TriMet officials said in a press release.

The budget prioritizes restoring service to lines cut due to pandemic-related ridership declines; capital investments, especially on remaining construction of the MAX Red Line extension project; and transit equity and inclusion for low-income riders with low income.

Additionally, the budget supports TriMet’s five-year business plan and helps achieve strategic priorities, including rebuilding ridership, enhancing safety and emphasizing inclusion, diversity, equity and access, TriMet officials said.

TriMet's fiscal year begins July 1.