SEPTA on March 20 released its proposed Fiscal Year 2016 Operating Budget and Fiscal Years 2017-2021 Financial Projections. The Authority will hold a series of public hearings on the spending plan throughout the five-county service region April 20-24.
SEPTA’s proposed Operating Budget for Fiscal Year 2016, the 12-month period from July 1, 2015 through June 30, 2016, is $1.36 billion, an increase of 2.84 percent over Fiscal Year 2015. The operating budget provides funding for the everyday costs of running the transit system, such as labor, fuel and power.
The proposed Fiscal Year 2016 Operating Budget maintains current SEPTA service levels, with no increase in fares. It includes resources for the permanent implementation of 24-hour weekend service on the Broad Street Line subway and Market-Frankford Line subway/elevated, which was launched as a pilot program last year.
To engage the public in the budget process, SEPTA holds two hearings in each of the five counties in which it operates. Public comments are considered before the budget proposal goes to the SEPTA Board for a vote at its monthly meeting in May.
