Home > NJ TRANSIT News > FYI >
Annual Budgets Approved |
Annual Budgets Approved
The NJ TRANSIT Board of Directors has authorized the Corporation's Fiscal Year 2017 (FY17) capital and operating budgets. The $1.68 billion operating budget and $2.11 billion capital budget reflect fiscally sound investments with a focus on safety, state-of-good-repair investments, equipment modernization, technology advancements and more.
So what's in it for you? Here are some highlights:
- No fare increase in Fiscal Year 2017; we are proposing no fare increase again to the Treasury Department for Fiscal Year 2018.
- Upgrades at many stations, terminals and bus shelters.
- Bus, rail and light rail equipment and infrastructure upgrades to modernize your ride and increase customer satisfaction.
- State-of-good-repair projects to increase service reliability.
- Positive Train Control (PTC) and other safety initiatives.
- Resilience projects to help our system weather future storms.
PTC is an advanced technology that will add another layer of safety to our rail system by automatically stopping or slowing down a train if the locomotive engineer fails to obey a signal or speed limit. Next year, we will begin testing PTC on a six-mile section of track on the Morris & Essex Lines. PTC will be installed on all of our trains and train lines by the end of 2018.
Our resilience projects, largely supported by federal funds, include a "safe haven" train storage, service and inspection facility on the Northeast Corridor, a new North Jersey Coast Line bridge spanning the Raritan River, filling in Long Slip Canal adjacent to Hoboken Terminal and replacing it with new train platforms, raising substations and other supporting infrastructure at select locations, and building a micro-grid capable of supplying highly reliable power when the centralized power grid is compromised.
All of these projects and more will help NJ TRANSIT deliver safe, reliable transportation to each one of you we are proud to serve every day.