For
More Information Contact:
Ted Burton, Public Relations Manager 512-389-7550
Web
site: www.capmetro.org
The Capital Metro Board of Directors adopted its aggressive,
customer-driven 2002 budget Monday. The
new budget will pay to increase service on the streets and fund long-term,
multi-year capital investments like new buses, Park & Ride Facilities and
passenger amenities.
“This is a catch up year for this
agency,” said Chairman Lee Walker.
“We’re making up for past deficiencies in building permanent Park &
Ride facilities, and a fundamental restructuring of our service. These are investments that will payoff for
our customers for years and years to come.”
Capital Metro’s 2002 Operating Budget is $99.5 million. The Operating Budget will fund a 5.9%
increase in regular bus service levels.
It also includes a four percent pay increase for bargaining employees
like bus operators and mechanics, based on a new labor agreement. 2002 is the first year of Capital Metro’s
Five Year Bus Service Plan which focuses on faster, more direct routes,
expanded coverage, improved reliability, better crosstown service, and the
continued development of a network of Park & Ride and transfer
facilities. In 2002, Capital Metro is
also expanding its Community Involvement Program and its Minority Business
Development Program.
Capital Metro’s 2002 Budget for New
Capital Investments is $25.6 million.
The Capital Budget reflects significant investments in vehicles and
facilities to support the increase in service. The budget for new capital will pay for long-term investments
including 29 new buses, plus new vehicles for vanpool and Special Transit
Services. It also includes money for
work on a Northwest Park & Ride, South ‘Dillo Park & Ride, North IH 35
Park & Ride, and an expanded Amenity Program for Capital Metro bus
stops. These Capital Investments are
multi-year projects, which last 5- 25 years or longer.
“Our Capital budget demonstrates a
significant commitment to our customers,” said Karen Rae, Capital Metro General
Manager. “These long-term investments
compliment the Board’s previous $120 million commitment to other regional
mobility projects.”
The projected Revenue Budget for
2002 is $145.4 million. The Revenue
Budget reflects anticipated lower sales tax revenues due to economic
conditions.