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Southeastern Pennsylvania Transportation Authority (SEPTA) officials have spent the past several months developing contingency plans to address a $62.2 million operating budget shortfall during fiscal-year 2005. Now, they might not need a back-up plan. Pennsylvania Gov. Ed Rendell recently announced a transit funding plan that would provide $42.7 million for the authority during the remainder of the fiscal year.
The state also will provide short-term financial relief for other Pennsylvania public transit agencies and might provide additional funding for SEPTA during the next two years while the general assembly works to develop a long-term funding solution.
Scheduled to take effect March 6, SEPTA’s contingency plan — which included fare increases, and service and job cuts — has been postponed pending action by the Delaware Valley Regional Planning Commission, which is scheduled to meet tomorrow.
The plan previously was postponed in December, when the state provided SEPTA $13 million in additional funding.
3/8/2005
Rail News: Rail Industry Trends
SEPTA obtains additional state funding, postpones fare increases and service cuts
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Southeastern Pennsylvania Transportation Authority (SEPTA) officials have spent the past several months developing contingency plans to address a $62.2 million operating budget shortfall during fiscal-year 2005. Now, they might not need a back-up plan. Pennsylvania Gov. Ed Rendell recently announced a transit funding plan that would provide $42.7 million for the authority during the remainder of the fiscal year.
The state also will provide short-term financial relief for other Pennsylvania public transit agencies and might provide additional funding for SEPTA during the next two years while the general assembly works to develop a long-term funding solution.
Scheduled to take effect March 6, SEPTA’s contingency plan — which included fare increases, and service and job cuts — has been postponed pending action by the Delaware Valley Regional Planning Commission, which is scheduled to meet tomorrow.
The plan previously was postponed in December, when the state provided SEPTA $13 million in additional funding.
