Check out our numbers: 2013 Budget

As a public transit agency, we know you want to keep up with what’s going on at Capital Metro. From service changes to our budget–we want to keep you in the know.

Recently, we worked on our new budget. On Monday, September 24, 2012, the Capital Metro board of directors adopted a $274.5 million project and operating budget for Fiscal Y2013, which takes effect Oct. 1, 2012. The budget was approved in a unanimous vote, which went into effect this month.

In our continued efforts in maintaining financial transparency online, we updated our website with the latest budget information available. View all the in’s-and-out’s of the new budget at capmetro.org/budget2013 or download the full version here.

What you’ll find online:

– The approved 2013 Budget, available for download

– A breakdown of where our budget goes

– Charts of revenue and operating expenditures

– Past annual and monthly budget reports

The FY2013 budget was balanced without reducing service levels or increasing fares, and allows us to continue building our reserves, which will keep us strong and financially stable in the years to come.

The $274.5 million FY2013 budget consists of a:

  • $193.9 million operating budget, and
  • $64.3 million capital budget, and
  • $16.2 million to fund interlocal agreements and other expenses.

As a result of both board and public feedback, $250,000 in additional funding was added to the Basic Transportation Needs Fund, which provides financial support to organizations such as One Voice Central Texas to assist low-income transit-dependent riders, along with an additional $482,235 for the Bus Stop Accessibility Improvement Project (bringing the total commitment for the project to $2,478,130).

“We’ve made much progress during the last few years to strengthen our financial position and enhance our business practices. We’ve changed our labor structure, made bus service more efficient and adopted rigorous financial policies, all in an effort to improve the way we do business,” said Capital Metro President/CEO Linda Watson.

She’s almost here…

Linda Watson, our new president and chief executive officer, stopped by the office for a few moments today.  The building is buzzing with excitement as we wait for our new leader to take the helm.  She officially starts on Monday.

Ms. Watson talks to a group of bus operators in the break room.

Ms. Watson is busy settling in and getting better acquainted with the Austin area.  Today, she scoped out the vacant CEO office that will soon be filled with her transit books, awards and family photos.

Starting next week, she’ll have a line out the door of staff waiting to greet her and help her dive right into the important issues facing the agency. Between the requests for meetings by employees, elected officials and community leaders, her calendar is filling up fast.

Ms. Watson is returning to Texas after her most recent gig as the chief executive officer of LYNX, the transit authority in Orlando.  Click here to read more about her background and the search process that brought her to Capital Metro.

Welcome aboard!