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Rio Metro Adopts FY 2014 Budget

rmrtd-fy2014-plan-cover-smOn May 17, the Rio Metro board of directors approved bus and rail budgets for Fiscal Year 2014, which runs from July 1, 2013 to June 30, 2014. The bus budget projects total revenues and expenditures of $15.6 million, which includes commuter bus routes, fixed routes, paratransit, demand response services, and long-range planning, as well as $4.7 million for ABQ RIDE to support its transit services. The budget also includes an expansion of transit services in Sandoval and Valencia counties.

The rail budget projects revenues and expenditures of $40.2 million, a significant increase from FY 2013 due to an anticipated increase in federal funds. The budget preserves the existing Rail Runner service levels, and the additional revenue will pay for maintenance of the tracks, locomotives, passenger cars, and other rail facilities and begins a capital reserve fund for locomotive and passenger car mid-life refurbishment.

Both budgets were presented as part of an addendum to the five-year Short Range Plan, which was adopted in December. The addendum assesses Rio Metro’s progress on projects over the past year, provides budget projections through FY 2020, and lays out the annual planning cycle, which includes the budget, transit performance reviews, and capital improvement planning.

pdfView the budgets and Short Range Plan addendum.

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