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Southeastern Pennsylvania Transportation Authority (SEPTA) has delayed addressing its $62 million fiscal-year 2005 budget deficit until Dec. 16.
During a recent special board meeting, the authority presented nine options to cut costs by raising fares, reducing service and eliminating jobs.
The board currently is considering an option to raise the basic fare 25 percent from $2 to $2.50, reduce service 20 percent system-wide and modify weekend service beginning Jan. 23, and raise fares another 13 percent from $2.50 to $3 beginning March 1.
Last week, the Pennsylvania general assembly adjourned without providing additional subsidies to address the deficit. However, last month, the assembly proposed providing an additional $111 million for state transit agencies in fiscal-year 2005. SEPTA officials expect to receive about $36 million of the funds.
12/6/2004
Rail News: Rail Industry Trends
SEPTA board reviewing options to address budget deficit
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Southeastern Pennsylvania Transportation Authority (SEPTA) has delayed addressing its $62 million fiscal-year 2005 budget deficit until Dec. 16.
During a recent special board meeting, the authority presented nine options to cut costs by raising fares, reducing service and eliminating jobs.
The board currently is considering an option to raise the basic fare 25 percent from $2 to $2.50, reduce service 20 percent system-wide and modify weekend service beginning Jan. 23, and raise fares another 13 percent from $2.50 to $3 beginning March 1.
Last week, the Pennsylvania general assembly adjourned without providing additional subsidies to address the deficit. However, last month, the assembly proposed providing an additional $111 million for state transit agencies in fiscal-year 2005. SEPTA officials expect to receive about $36 million of the funds.
