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CDTA FISCAL YEAR 2014 BUDGET BALANCED AND APPROVED

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CDTA ROLLS OUT BALANCED BUDGET FOR FISCAL YEAR 2014
Plan Includes No Fare Increase or Major Service Changes
 
(Albany, NY) The Capital District Transportation Authority (CDTA) Board of Directors has approved a balanced budget for the fiscal year that started on April 1, 2013. The $76.1 million spending plan keeps fares level and includes a number of innovative management practices that will build a foundation for expansion to meet customer demand for more service. 
 
“We are proud to once again submit a balanced budget for FY2014,” said Chairwoman Denise A. Figueroa. “A balanced budget and operating plan comes about because of a commitment to a strategic business focus by our Board of Directors and attention to details by our employees. We see the possibilities of innovative service expansion that will drive the Capital Region forward. This is particularly important given that ridership has increased for 24 consecutive months, a testament to the need for more service.”
 
CDTA has created new business opportunities and strategically aligned headcounts with expenses over the past two years. Ridership and revenue gains have come from expansion of universal access agreements (bulk purchases) and the strengthening of core services across all four counties. Capital Region universities and businesses with universal access now represent more than 25% of ridership with additional growth expected during FY2014.
 
BusPlus, which celebrated its second anniversary this week, continues to be a key factor, increasing ridership on Route 5 to nearly 4 million trips. The success of BusPlus has led to CDTA to consider expanding Bus Rapid Transit on the River Corridor (Route 32 between Albany and Troy) and to the Washington/Western corridor (between Albany, Harriman Campus, UAlbany and Crossgates Mall).
 
The Authority’s capital plans, recently bolstered by an additional $1.4 million in funding from New York State, includes the purchase of new buses, replacement of fuel tanks, upgrade of HVAC systems at its facilities and the development of a fund to begin work on the River Corridor BRT project this year.  The detailed budget plan is available at www.cdta.org.
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Customers looking for more information about CDTA can call the Customer Service Center at 482-8822 or log onto www.cdta.org. Customer Service Representatives are on duty seven days a week from 6am-7pm on weekdays, from 8am-6pm Saturdays and 8am-5pm on Sundays and holidays. To stay connected with CDTA’s latest initiatives, please visit facebook.com/CDTAiride or follow us on twitter.com (@CDTA).
 
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