05/23/2019 | Press release | Archived content
Plans Provide for Everyday Expenses & Improvement Projects
May 23, 2019
The SEPTA Board today approved Operating and Capital budgets for Fiscal Year 2020, putting in place spending plans to cover everyday costs and improvement projects. Fiscal Year 2020 is the 12-month period that begins on July 1, 2019.
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.
The $1.49 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 19 consecutive years of balanced budgets.
The operating budget provides funding for the everyday costs of running the transit system, such as labor, fuel and power. The full budget proposal is available online at http://septa.org/strategicplan/2020-03-operating-budget-proposal.pdf.
The FY 2020 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 $675 million Fiscal Year 2020 Capital Budget, SEPTA will advance initiatives to renew critical infrastructure, replace aging vehicles and make technology improvements. The approved budget includes all anticipated funding from the state.
The full Capital Budget is available online at http://septa.org/strategic-plan/reports/fy-2020-cap-budget-2020-2031-program-proposal.pdf
For more information about SEPTA, visit www.septa.org.