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Caltrain’s board approved the operating and capital budgets for the financial year starting on July 1 at its monthly meeting on June 1.
The $148·2m operating budget includes $20·5m in funding contributions from San Mateo County Transit District, Santa Clara Valley Transportation Authority and the City & County of San Francisco, and approximately $18m from Caltrain’s reserves. Farebox revenue covers 71% of the budget, and fare increases are to be proposed that would, if approved, reduce the amount that would be need to be drawn from the reserves. Caltrain said it also ‘continues to explore alternatives to address its ongoing structural deficit’, warning that without dedicated funding or increased member contributions it would not be able to operate existing service levels ‘despite more years of record-setting ridership growth’.
The $64·9m capital budget which covers long-term infrastructure improvements and maintenance will be funded through a combination of federal, regional and state grants, along with $5m contributions from the three partner agencies. The budget includes funding for the Napoleon Bridge Street replacement and Burlingame grade separation projects.
This article first appeared on www.railwaygazette.com
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