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Last week, the Southeastern Pennsylvania Transportation Authority’s (SEPTA) board approved a $1.2 billion operating budget and $300 million capital budget for fiscal-year 2011, which begins July 1.

The board also approved a fare increase to help fund operating expenses, SEPTA officials said in a prepared statement. Fare hikes, which average between 6 percent and 8 percent system-wide, are expected to generate about $20.7 million in additional revenue for the operating budget, they said.

The operating budget factors in several costs that are expected to increase at a rate greater than inflation, including health care, prescription drugs, claims, and materials and services. The capital budget reflects $110 million in cuts due to the rejection of Pennsylvania’s proposal to turn Interstate 80 into a toll road.