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At a board meeting yesterday, New Jersey Transit Executive Director George Warrington outlined the agency’s proposal to raise fares an average of 9.6 percent system-wide. In fiscal-year 2008, NJ Transit projects it will need an additional $45 million to cover inflation and $17 million to fund service changes.

Under the proposal, monthly interstate rail fares would increase an average of 9.9 percent. However, NJ Transit would maintain multi-ride and off-peak discount rates at current levels, and freeze capital funds from being transferred to the operating budget.

The agency will begin holding public hearings on the proposal Feb. 28. The plan will be considered by the board in April.