Are NJT Fares Going Up?
The New Jersey Transit Board of Directors has approved a 1-point-9 billion dollar operating budget and a 1-point-1-5 billion dollar capital program for fiscal year 2013 – with no fare increases.
NJ Transit Executive Director Jim Weinstein says “at only one-half of one percent, the operating budget growth for FY 2013 represents NJ Transit’s second lowest overall growth rate in the last 15 years – by implementing sustainable and fiscally responsible operating and capital programs, we are able to maintain and enhance New Jersey’s robust transportation system while responding to the daily transit needs of our customers.”
Almost half of the revenue in the operating budget comes from fares, with the balance from a combination of commercial revenues, capital transfers and state operating assistance as well as other state and federal reimbursements.
The capital program funds continued state-of-good-repair investments in transit stations and infrastructure, supports an ongoing fleet modernization program and advances service reliability, safety and technology initiatives.
NJ Transit is the nation’s largest statewide public transportation system providing more than 895 thousand weekday trips on 260 bus routes, three light rail lines, and 12 commuter rail lines. It’s the second largest transit system in the country with 164 rail stations, 60 light rail stations and more than 19 thousand bus stops.