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RIKARD LARMA/METRO
SEPTA TransPasses have been marked with "M" or "F" stickers since the 1980s.
SEPTA ended 2011 similar to the way it began: with increased ridership, marking the 17th consecutive month of ridership gains, according to preliminary data.
SEPTA Chief Financial Officer Richard Burnfield said yesterday that ridership for the first two weeks of December was up about 3 percent on the system, continuing a trend that started midway through 2010. As a result of the steady increases, SEPTA has a $1.7 million surplus and will keep fares and service at current levels for next fiscal year as planned.
"Right now we’re looking at a balanced budget for the upcoming fiscal year [2013]. I would not anticipate fare increases or service reductions," Burnfield said.
The next projected fare hike is scheduled for July 2013, according to SEPTA's five-year plan. The last fare hike was in 2010 when the price of tokens, transfers, weekly and monthly passes all rose, but the $2 base fare remained flat.
And while things are fine on the operational side, SEPTA is still strapped on its capital budget and has had to defer dozens of projects due to lack of funding. The state has yet to come up with a solution following the federal government's rejection of Interstate 80 tolls.
"Next year our capital budget is $300 million, which really limits what we can do in terms of repairing infrastructure, buying new vehicles..." said Burnfield, calling that figure "totally inadequate."
SEPTA is also courting federal officials for more funding, but increases in spending are uncertain in an election year.
SEPTA Chief Financial Officer Richard Burnfield said yesterday that ridership for the first two weeks of December was up about 3 percent on the system, continuing a trend that started midway through 2010. As a result of the steady increases, SEPTA has a $1.7 million surplus and will keep fares and service at current levels for next fiscal year as planned.
"Right now we’re looking at a balanced budget for the upcoming fiscal year [2013]. I would not anticipate fare increases or service reductions," Burnfield said.
The next projected fare hike is scheduled for July 2013, according to SEPTA's five-year plan. The last fare hike was in 2010 when the price of tokens, transfers, weekly and monthly passes all rose, but the $2 base fare remained flat.
And while things are fine on the operational side, SEPTA is still strapped on its capital budget and has had to defer dozens of projects due to lack of funding. The state has yet to come up with a solution following the federal government's rejection of Interstate 80 tolls.
"Next year our capital budget is $300 million, which really limits what we can do in terms of repairing infrastructure, buying new vehicles..." said Burnfield, calling that figure "totally inadequate."
SEPTA is also courting federal officials for more funding, but increases in spending are uncertain in an election year.
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