TriMet Board Passes Budget
May 23, 2013, 2:09 am
On Wednesday TriMet's board of directors approved a $485 million operating budget. TriMet has run on a $56 million budget deficit since 2008, and that streak will end. The transit agency will be able to acquire newer buses, makes repairs and upgrades to MAX and shelters, hire new operators, and extend service on 14 bus lines.
TriMet spokesperson Merry Fetch points to two reasons for the promising budget year. One, their victory over Amalgamated Transit Union 757 by an arbitrator. And two, a recovering economy. Fetch says a majority of TriMet's funding comes from payroll taxes.
TriMet still does not have an answer in this budget for its $1 billion unfunded retirement benefits. They also don't have a second plan if ATU 757 wins its appeal.
The Oregonian says that TriMet would not disclose if management and executives will receive raises or bonuses.