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Monday, March 30, 2009

No fare increases or service cuts for SEPTA
SEPTA budget is in good shape

The biggest anticipated cost increase is for labor and benefits, which SEPTA projects will go up $40.5 million - 5.4 percent - to $792.5 million. SEPTA is currently negotiating with Transport Workers Union Local 234, the transit agency's largest union, whose contract expired March 15. Other contracts expire in early April for about 720 employees in the Suburban Transit Division.

SEPTA anticipates its labor force will grow 49 people, from 9,401 to 9,450, primarily because of the budgeted hiring of 46 additional bus and rail operators.

Other expected increases include a 5.4 percent increase in costs for materials and services, a 5.7 percent increase - to $37 million - for injuries and damage claims, and a 3.7 percent rise in the cost of electric-propulsion power. Because of lower fuel prices, SEPTA expects its fuel bill for buses and other vehicles to drop 31 percent, to $39.5 million.

On the income side, SEPTA expects passenger revenue to rise $16 million, to $414 million, because of an anticipated 2.7 percent rise in ridership. And it expects its subsidy from the state to grow 4 percent, to $555 million, and the subsidy from the local counties to grow 3.7 percent, to $75 million.

Subsidies make up about 59 percent of SEPTA's revenue.
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