Capital Metro board greenlights proposed budget

The Capital Metropolitan Transportation Authority’s board of directors on Monday approved the transit agency’s $427.5 million budget for Fiscal Year 2016-2017. The 5-0 vote (City Council members Ann Kitchen and Pio Renteria were absent along with Vice Chair Beverly Silas) came after a quick staff briefing on the package that is $70 million larger than its predecessor, thanks in part to a much higher capital reserve fund. Staff pointed out that the predicted $25.1 million in fare revenue does not account for the planned fare reduction that is part of Connections 2025. If that change does take effect next year, the board can revise the budget even though any potential losses from lower fares could be offset by increased ridership on premium services such as MetroRapid and the No. 100 Airport Flyer. The vote approved the budget as well as Capital Metro’s five-year capital improvement program that will spend tens of millions on infrastructure improvements, including MetroRail’s Downtown Station.