SEPTA's Fiscal Budget For 2015 Will Not Include Fare Increases
By Mike Dougherty
PHILADELPHIA (CBS) -- SEPTA is releasing it's budget for the 2015 fiscal year. It includes a increase of about three-percent, but no fare increases.
The actual increase is 2.8 percent, which comes out to be $37-million in the 1.36-billion budget for the transit agency.
SEPTA CFO Richard Burnfield says the increase will cover rising health coverage for unionized workers.
"Healthcare costs are anticipated to increase by 6-percent. And prescription drug costs are expected to increase by approximately 12-percent."
He says the next scheduled fare increase is next year.
"SEPTA has a policy in place to increase fares every three years. The last fare increase was in 2013."
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