NEWARK, N.J. — The N.J. Transit Board of Directors adopted a Fiscal Year 2009 Budget that supports historic ridership levels by increasing seat capacity, modernizing the bus and rail fleets and maintaining the system in a state of good repair.
The N.J. Transit Board approved a $1.7 billion FY09 operating budget and a $1.29 billion capital plan that advances major capacity-enhancing projects, funds improvements at bus and rail facilities and supports the purchase of transit vehicles to replace aging equipment.
“Ensuring that the residents of New Jersey have a safe, efficient and reliable public transit system has been a priority of my administration, and at no time has it been more critical to the economic vitality and the future of our state than today as record numbers of citizens are making the smart choice and leaving their cars in favor of public buses, trains and light rail service,” Gov. Jon Corzine said.
“This budget relies on more state support and continued cuts in back-office expenses to keep our core rail and bus system running efficiently and meet record demand for service,” N.J. Transit Executive Director Richard Sarles said.
N.J. Transit’s fiscal year runs from July 1 through June 30.