The summer of hell and the ongoing work at New York Penn Station may have NJ Transit officials and commuters concerned, but the agency is also looking down the track to fiscal 2018, passing a $2.21 billion operating budget.
Almost half of the revenue in the fiscal 2018 operating budget comes from passenger revenue ($1.014 billion), supported by a comparable amount from state and federal program reimbursements ($947.7 million), with the balance from a combination of commercial revenues ($115.2 million) and state operating assistance ($140.9 million).
Approximately 61 percent of the operating budget is dedicated to labor and fringe-benefits costs. Other significant expenses include materials and supplies and purchased transportation, which equal 25 percent of the operating budget.
The agency also passed a $1.367 billion capital program for fiscal 2018.
NJT says it remains committed to deploying positive train control.
It continues to invest in railroad bridge rehabilitation, track replacement, signal upgrades, repairs to overhead power lines and electric substations, as well as investments into the state-of-good-repair of the Northeast Corridor (NEC), the agency’s most utilized line.