Budget Highlights
TriMet's budget for Fiscal Year 2012 totals $434 million, and, for the first time in three years, there are no service cuts anticipated. In fact, some bus and MAX service will be restored. Over the previous two years, we cut $60 million to address shortfalls due to the ongoing recession.
Our budget remains constrained but we are able to make some important investments, including buying 55 new buses, and adding back some bus and MAX Blue Line trips to deal with overcrowding and maintain schedule reliability.
- In September 4, 2011, we will restore a small amount of bus and MAX service to reduce overcrowding and maintain schedule reliability. 10 bus lines will have some additional trips added to relieve overcrowding: Lines 4, 9, 12, 14, 35, 44, 52, 75, 78 and 94. During evening rush hour, there will be additional Blue Line MAX trips.
- We are restarting our annual bus procurement program, purchasing 55 buses this fiscal year, primarily with grant funds, and 40 each subsequent year, funded through debt service.
- Effective September 1, 2011, Adult All-Zone and 2-Zone single fares will increase 5 cents, Adult 1-Month Passes will increase $4, and Youth/Student 1-Month Passes will increase $1. This increase will help offset the additional cost of providing service and rising diesel prices, as well as help provide some service restoration to respond to overcrowding.
- We buy 6.2 million gallons of diesel a year, making us the state's largest user. The budget for bus service is at $3.44/gallon. For WES and LIFT service, we budget $3.59/gallon. Total cost is $21.47 million. For FY11, we budgeted $2.42/gallon for buses, or $2.55 for all modes. Every 15-cent increase in fuel costs equates to about $1 million in increased costs.
- Our budget also provides funding for various safety initiatives, including annual operator recertification. We are renewing our efforts to create a culture of safety, and safety is the focus for all of our operational, planning and strategic decisions.
- The Portland-Milwaukie Light Rail Project continues to move forward through the Final Design phase. No TriMet funds are going toward the project until FY2013. Funds from the Oregon lottery backed bonds, ODOT Congestion Mitigation Air Quality grant and Metro MTIP bond proceeds are funding this phase of the project.
TriMet's fiscal year begins July 1 and ends June 30.