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The Southeastern Pennsylvania Transportation Authority (SEPTA) is hosting a series of public hearings on its proposed $991 million operating budget for fiscal-year 2007, which runs from July 1 to June 30, 2007.
The budget would increase $39.2 million compared with FY2006’s spending plan to cover higher wages and increased fuel, materials, services, health-care and prescription drug costs.
SEPTA officials continue to work with Gov. Ed Rendell, members of the state’s general assembly and the Governor’s Transportation Funding and Reform Commission to approve a long-term transit subsidy source. In February 2005, Rendell announced a plan to “flex” federal transportation funds to public transit agencies throughout the state. The plan addressed operating budget shortfalls for the remainder of FY2005, all of FY2006 and the first six months of FY2007.
However, if a permanent funding source is not approved, the authority will be facing a projected $50.3 million shortfall after flex funding runs out in December 2006.
5/5/2006
Rail News: Rail Industry Trends
SEPTA proposes $991 million FY2007 spending plan
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The Southeastern Pennsylvania Transportation Authority (SEPTA) is hosting a series of public hearings on its proposed $991 million operating budget for fiscal-year 2007, which runs from July 1 to June 30, 2007.
The budget would increase $39.2 million compared with FY2006’s spending plan to cover higher wages and increased fuel, materials, services, health-care and prescription drug costs.
SEPTA officials continue to work with Gov. Ed Rendell, members of the state’s general assembly and the Governor’s Transportation Funding and Reform Commission to approve a long-term transit subsidy source. In February 2005, Rendell announced a plan to “flex” federal transportation funds to public transit agencies throughout the state. The plan addressed operating budget shortfalls for the remainder of FY2005, all of FY2006 and the first six months of FY2007.
However, if a permanent funding source is not approved, the authority will be facing a projected $50.3 million shortfall after flex funding runs out in December 2006.
