The SEPTA Board today approved Operating and Capital budgets for Fiscal Year 2019, putting in place spending plans to cover everyday costs and improvement projects. Fiscal Year 2019 is the 12-month period that starts on July 1, 2018.
The Board’s approval comes after a series of public hearings were held this spring on both budget proposals. Those sessions were overseen by an independent hearing examiner.
Operating Budget
The $1.45 billion Operating Budget maintains current service levels, with no increase in fares for riders.
SEPTA continues to implement measures to control operating costs, and that fiscal discipline has resulted in 18 consecutive years of balanced budgets. Overall fuel consumption has been reduced thanks to the authority’s commitment to replacing aging buses with more fuel efficient diesel-electric hybrids. In addition, costs for injuries and damages have gone down in recent years, due in large part to the increased role of video evidence from surveillance cameras.
Capital Budget
The FY 2019 Capital Budget and 12-Year Capital Program advances SEPTA’s “Rebuilding the System” initiative, a comprehensive program to reinvest in the transit network throughout the region. The Authority embarked on this plan following the November 2013 passage of Act 89, which provides capital funds for transportation improvements throughout Pennsylvania.
Under the $749.62 million Fiscal Year 2019 Capital Budget, SEPTA will advance initiatives to renew critical infrastructure, replace aging vehicles and make technology improvements.
The Operating and Capital budgets can be viewed and downloaded from SEPTA’s website at https://www.septa.org/reports.
