(The Associated Press circulated the following on July 11.)
NEWARK, N.J. — The board of New Jersey Transit Wednesday approved its annual operating budget of $1.6 billion and a capital budget of $1.3 billion.
The operating budget includes about $825 million from passenger fares and other revenue such as parking and advertising fees and $764 million in state and federal money.
NJ Transit increased fares systemwide by nearly 10 percent in June to help close a budget deficit of about $60 million.
The agency said it set a new ridership record for its 2007 fiscal year, showing a 4.1 percent increase to a 250.9 million bus, rail and light rail trips, up from 241.1 million in the previous year, according to preliminary data.
NJ Transit is the nation’s largest statewide public transportation system providing nearly 857,000 weekday trips.