The Bi-State Board of Commissioners approved its Fiscal Year (FY) 2024 Operating and Capital Budget at the Feb. 17 Board of Commissioners’ meeting.
Transit projected operating costs for FY 2024 are $315,093,748. This is an increase of 1.3% percent from the prior year budgeted operating costs of $310,959,903.
Funding breakdown for FY2024 include the following:
Passenger revenue is budgeted at $22.1 million for FY 2024. This is an increase of $3.5 million or 19.0% from the FY 2023 budget. According to budget documents, the increase in passenger revenue is reflective of a ridership return from the pandemic issues in previous years.
Through FY2024, Bi-State projects to expend $216.3 million of the $363 million in COVID relief funds, and the remaining balance will provide sustainability and support for transit capital projects in future years.
Total capital expenditures planned for FY 2024 is $527.3 million. Total capital expenditures planned for the three-year capital program are $716.5 million. The FY 2024 – FY 2026 capital expenditure program includes both recurring and non-recurring capital expenditures. The recurring capital expenditures include bus and paratransit revenue rolling stock vehicle replacements; hardware and software upgrades to support advances in technology; and preventive maintenance along the MetroLink Right-of-Way and at MetroBus stations. Federal Formula funds will be allocated to the vehicle maintenance program throughout this capital budget period.
