NJ Transit has approved an operating budget of $3.15 billion, marking its largest budget to date, which heavily relies on fare revenues projected at $980 million for the upcoming year. Historically, NJ Transit has struggled to meet fare revenue targets. Since fiscal year 2018, the agency has fallen short every year, including a significant miss in 2018 when it only earned $968.1 million against a projection of $1.01 billion. This ongoing shortfall poses challenges to the new budget's revenue assumptions.
NJ Transit approved a $3.15 billion operating budget, which is its largest ever, relying on an ambitious goal of $980 million in fare revenue for the upcoming fiscal year.
For the past nine years, NJ Transit has consistently missed its fare revenue targets. The agency fell short of its $1.01 billion projection in fiscal year 2018, earning only $968.1 million from fares.
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