FOR
IMMEDIATE RELEASE
June 13, 2024
MARTA ADOPTS BALANCED BUDGET, REAFFIRMS
COMMITMENT TO SYSTEM IMPROVEMENT & EXPANSION
ATLANTA – The
Metropolitan Atlanta Rapid Transit Authority (MARTA) Board of Directors today
adopted the Authority’s Fiscal Year 2025 Operating and Capital Budgets. The
$1.6 billion budget includes $654.5 million in net operating funds and $909.2
million for capital programming.
MARTA continues to
show fiscal responsibility, balancing the budget for a thirteenth straight year
without a fare increase, and reconfirming two AAA bond
ratings. In an ongoing commitment to customer service and system improvement,
the budget prioritizes projects necessary to ensure customer safety, those
associated with the arrival of the new railcars and new buses and
infrastructure, station rehabilitation, new fare collection equipment, and
technological upgrades to service information.
“The budget
underscores our priorities of keeping the current system in a state of good
repair, building the MARTA of the future, and growing ridership,” said MARTA
General Manager and CEO Collie Greenwood. “After much engineering, planning,
and design work, we are putting shovels in the ground so to speak. Customers
will see multiple improvement and expansion projects systemwide over the next
year. MARTA is 45 years old. It’s time to invest in the next 45 and beyond.”
MARTA derives a
significant part of its operating budget from sales tax revenue which remains
robust, and ridership, while still below pre-COVID levels, continues to
increase and has returned for large events. The operating budget assumes a four
percent salary increase for non-represented employees, and fully funds the
collective bargaining agreement obligations, as well as accounts for inflation
and ongoing supply chain issues.
“The MARTA Board
of Directors is mindful of the challenges facing the transit industry from
procurement to ridership,” said MARTA Board Chair Katie Powers. “We also
recognize that MARTA is faring better than other agencies in many regards due
to sound financial decisions. My fellow board members and I remain committed to
ensuring MARTA is a good steward of public money.”
MARTA’s Capital
Improvement Program continues to advance, with several projects either under
construction such as MARTA Rapid Summerhill, the region’s first bus
rapid transit line that opens for service next year or entering the
construction phase such as the Five Points Transformation, set to get underway
in July. The budget includes $76 million for the multi-year Station
Rehabilitation Program and $92 million for the procurement of new railcars, the
first of which arrives in Atlanta later this year for testing. Additionally,
the budget allocates $32 million for the procurement of new buses, $25 million
to advance the Clayton County Operations and Maintenance Facility project, and
$20 million to continue the development and implementation of a new fare
collection system.
To view MARTA’s FY
2025 Operating and Capital Budgets in detail visit MARTA (itsmarta.com).
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