SEPTA Announces $727.2 Million Budget For 2018

SEPTA Monday released its budget for 2018, which comes to the tune of $727.2 million.

The budget breaks down like this: 48 percent of it comes from state funds, which accounts for $351.72 million; 29 percent, or $213.75 million, comes from federal monies; SEPTA's capital financing accounts for 21 percent of the budget ($150 million); and local funding makes up just 2 percent, or $11.76 million, of the budget.

A majority of the budget is earmarked for vehicle acquisitions and overhaul, according to SEPTA's budget.

$241.6 million will be used in 2018 to replace vehicles at the end of their life cycles, but more locomotives, and optimize existing fleet vehicles.

SEPTA will also be used that money to purchase 45 new multi-level trains for its regional rail line.

Leasing and debt service expenses account for 14.2 percent of the budget, making it the second largest expenditure in the budget, while the SEPTA Key program makes up 13.7 percent of the budget.

The budget is part of SEPTA 12-year capital program to invest $7.3 billion that will rehabilitate signals and interlockings, install Positive Train Control on the Route 101/102 Trolley lines, and upgrade dispatching and scheduling systems.

SEPTA recently announced it is seeking to increase fares for various services.

That announcement led a political action committee in Philadelphia to start a petition that is looking to eliminate transfer fees from SEPTA's plan.

Public hearings on the fare hike and budget are planned at the following locations and times:

• 2 p.m. to 6 p.m., April 19, Delaware County Court House, County Council Room - 1st Floor, 302 W. Front St., Media;
• 2 p.m. to 6 p.m., Thursday, April 20, Bucks County Free Library, Pearl Buck Room, 150 S. Pine St., Doylestown;
• 2 p.m. to 6 p.m., Friday, April 21, West Chester Borough Hall, Council Chambers, 401 E. Gay St., West Chester;
• 11 a.m. to 5 p.m., Monday April 24, Southeastern Pennsylvania Transportation Authority Board Room, 1234 Market St., Philadelphia;
• 2 p.m. to 6 p.m., Tuesday, April 25, Montgomery County Human Services Center Community Room - Main Floor, 1430 DeKalb St., Norristown.

You can review SEPTA's budget online here for yourself if you plan to speak at a public hearing.

Image via SEPTA