CDTA releases copy of its final budget
The Capital District Transportation Authority announced a $76.1 million budget for the new fiscal year that keeps fares level, expands its Bus Rapid Transit program and allows for some housekeeping.
CDTA's board of directors approved the 2014 fiscal year budget late last month after 24 straight months of increased ridership in Albany, Schenectady, Saratoga and Rensselaer counties.
A copy of the budget is available below.
“We are proud to once again submit a balanced budget for FY2014,” said CDTA Chairwoman Denise Figueroa in a news release. “A balanced budget and operating plan comes about because of a commitment to a strategic business focus by our Board of Directors and attention to details by our employees. We see the possibilities of innovative service expansion that will drive the Capital Region forward. This is particularly important, given that ridership has increased for 24 consecutive months, a testament to the need for more service.”
The authority said its ridership and revenue have increased primarily from the expansion of universal access agreements, or bulk purchases by universities and businesses that allow their students or employees to ride for free with the swipe of a card. These agreements account for 25 percent of all CDTA ridership.
In its second year, BusPlus has increased ridership on Route 5 to nearly 4 million trips, according to the release. CDTA is also considering expanding its Bus Rapid Transit on the River Corridor (Route 32 between Albany and Troy) and to the Washington/Western corridor (between Albany, Harriman Campus, University at Albany and Crossgates Mall).
CDTA recently received an additional $1.4 million in state funding, and plans to use it to purchase new buses, replace fuel tanks, upgrade the heating, ventilation and air conditioning systems at its facilities, and develop a fund to begin work on a second Bus Rapid Transit line on the River Corridor this year.
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