AUSTIN, Texas — Capital Metro announced on Monday that its board of directors unanimously voted to approve its $403.7 million 2020 fiscal year budget.
The budget will include $287.1 million for operating expenses, $6.9 million for payments to local government entities for mobility programs and $109.7 million for capital projects.
The report included multiple major agency projects for the upcoming year such as:
Reconstruction of the Downtown Station
Improvements will include federally mandated positive train control measures and capacity expansion. A temporary station will also open to allow things to run as normal when construction commences.
Placing battery electric-powered buses within the city
This is in hopes to achieve the goal to create a sustainable community.
Expansion of the neighborhood service pilot program, Pickup
With this, they wish to fulfill the potential of Project Connect, which will connect people to opportunities.
Continuation of the redevelopment of multiple transit centers
These areas include the Eastside Bus Plaza, Norwood and Oak Hill. This initiative is also to accelerate the installation of 125 bus stop shelters, benches and litter containers and 80 additional solar lighting facilities at stops with shelters.
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Capital Metro also plans to set aside $47.9 million in reserves for two months of operating expenses, which meets the level set forth by the Texas Legislature.
In addition, the projected balance includes $1.3 million for a self-insurance reserve, $4.8 million for City of Austin mobility programs, $23.9 million for the budget stabilization reserve and $34.6 million for a capital expansion fund as we look forward to future needs in the region.
The board also approved Capital Metro's updated five-year capital improvement plan.
Capital Metro sought input from the community during the budget development process through numerous involvement opportunities, including public meetings, open houses, presentations to Capital Metro's advisory committees and a public hearing to ensure feedback and suggestions were received.
To read the full report, you can find it here.
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