SEPTA replenishes rainy day fund
The fund serves as a reserve for the authority and is meant to provide a cushion against unexpected costs or ridership declines. SEPTA drew $26 million from the fund last year to cover unexpected costs related to the harsh winter and ridership declines because of the faltering economy.
This year, ridership was up by 12.2 million trips.
However, unless the state approves more funding for SEPTA, the authority will be forced to deplete the fund over the next several years to cover rising operating costs. Transportation funding was cut when the federal government would not permit Pennsylvania to toll Interstate 80.
Gov. Corbett’s transportation funding commission, which is looking at ways of raising infrastructure dollars through fee increases and other means, is slated to release its report by the end of July.
Contact the reporter at acampisi@planphilly.com
WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.
Brought to you by PlanPhilly
PlanPhilly
In-depth, original reporting on housing, transportation, and development.
Can SEPTA’s infrastructure counter transit anxiety?
Transit systems like SEPTA aren’t absent from urban planners’ guise of how public infrastructure impacts users physically and emotionally.
4 days ago
Listen 4:30
SEPTA is piloting a new gate to help stop turnstile jumping
The transit agency is testing out a new gate system at 69th Street Station that would replace the traditional turnstiles currently in use.
3 weeks ago
Why has SEPTA once again delayed its bus revolution?
After two years of public comment, SEPTA’s bus-route overhaul is yet again back to the public for further comment before being approved for implementation.
2 months ago