Board approves FY2013 budget proposal for Caltrain

Faced with a fiscal crisis at the beginning of the year that forced Southern California's Caltrain to consider drastic service cuts, the Peninsula Corridor Joint Powers Board approved a budget proposal that would avert another crisis, even as the Peninsula commuter rail system is experiencing record growth in ridership and revenue. The Board, which owns and operates Caltrain, approved a budget proposal for Fiscal Year 2013 and a framework for future operating budgets. Caltrain's three partner agencies have agreed to contribute $33.5 million to the Fiscal Year 2013 operation budget: SamTrans - $14 million San Francisco Municipal Transportation Agency - $5.8 million Santa Clara Valley Transportation Authority - $13.7. In the current fiscal year, the partnership contribution is $25.4 million. Caltrain's latest ridership and revenue numbers also are good news for the agency. In spite of the continuing flat economy, total ridership for August is 1,252,825, 13 percent higher than August 2010. This is an all-time high, surpassing the previous record of 1,245,443 set in July 2008; ridership has increased when compared to the previous year for 13 consecutive months. Fare box revenue also is up 15 percent. In addition to persistent high fuel prices, Caltrain officials attribute the increase in ridership its efforts to attract new riders: In January, Caltrain introduced weekend Baby Bullet service. Ridership on weekend Baby Bullet trains, as well as the local trains scheduled before and after them, have seen a 30 percent boost in ridership since the beginning of the year. Caltrain has raised fares more than 57 percent since 2005. In spite of fare increases, ridership continues to increase. Beginning Jan. 1, Caltrain fares increased 25 cents for each zone, with multi-ride tickets and passes adjusted accordingly. The increase was approved to close a $2.3 million gap in the Fiscal Year 2010 operating budget. Caltrain raised fares again on July 1, adding 25 cents to the base fare. In addition, the August expense report shows a 5.6 percent decrease in expenses, primarily attributable to reductions in operating and administrative expenses.