At one point this year, SEPTA had an operating deficit of $4.2 million. The authority has reduced that to a $1.3 million operating deficit, and Chief Financial Officer Rich Burnfield said by June 30 – the end of SEPTA’s fiscal year – the budget will be balanced.
“Everyone who knows me will tell you that deficit is a word that is not in my vocabulary so we will [balance the budget] and we are working very hard,” Burnfield said. “I have the entire cooperation of all the staff, and we are closely watching expenses for the rest of the fiscal year.”
The winter that would not end is largely to blame for the 2.2 percent decrease in ridership this year, compared to last year. While regional rail ridership is up 544,000 riders or 1.8 percent, city transit is down 6.38 million riders or 2.8 percent.
SEPTA took a significant hit when snow and ice storms caused school closings that were not accounted for in the budget, but when Philadelphia public schools made up some of those snow days over what would have been their spring break, SEPTA was able to recover some of its loses. For the month of April, SEPTA had a $3 million surplus.
To close the deficit gap, SEPTA has also been careful with its material and service purchases, asking if departments can purchase, say five new motors versus 25.
“Even though we are going to end the year with a balanced budget, we are not going to impact customer service,” Burnfield said.
As of the end of April, SEPTA’s operating budget deficit stands at $1.3 million.
If SEPTA is able, as Burnfield says, to balance the operating budget by June 30, this will the 15th consecutive year that SEPTA has had a balanced budget.