Caltrain board of directors approves operating and capital budgets, discusses plans to restore service
Caltrain board approves operating and capital budgets.
Caltrain
Caltrain’s Board of Directors approved its operating and capital budgets for Fiscal Year (FY) 2022 at the rail agency’s monthly board meeting.
The $176.7 million operating budget approved by the Board includes $34.6 million in farebox revenues. For the first time in the agency’s history, Caltrain assumes it will receive no contributions from Caltrain’s three partners the San Mateo County Transit District (SamTrans), the Santa Clara Valley Transportation Authority and the City and County of San Francisco for the operating budget, however, funds from Measure RR and the American Rescue Plan Act (ARPA) should be sufficient to cover the agency’s operating needs. This will be the first fiscal year in which Caltrain will have a dedicated non-fare revenue source, due to the passage of Measure RR.
SamTrans gets boost from $16M in federal funds almanacnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from almanacnews.com Daily Mail and Mail on Sunday newspapers.
UpdatedThu, May 6, 2021 at 6:33 pm PT
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Caltrain s board is expected to adopt a final budget proposal for the coming fiscal year at a meeting next month. (Renee Schiavone/Patch)
SAN CARLOS, CA Over half of Caltrain s revenue next fiscal year is projected to come from funds collected via Measure RR, highlighting how crucial the ballot measure s passage was toward the future of the struggling transit system that was hit hard by the COVID-19 pandemic.
Of Caltrain s $157 million in projected revenue for the 2022 fiscal year, $82 million will come from Measure RR, a 1/8-cent sales tax increase passed last year by voters in Santa Clara, San Mateo and San Francisco counties and will raise around $108 million annually for 30 years.
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A VTA Blue Line train travels through downtown San Jose. File photo.
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