The NJ TRANSIT Board of Directors today adopted the Fiscal Year 2023 (FY 2023) operating budget and updated capital plan that supports continued investments in personnel, infrastructure, and equipment to maintain the system in a state-of-good-repair and enhance the overall customer experience.

The Board adopted a $2.75 billion operating budget and $2.64 billion in capital investments for FY 2023.  This budget does not include a fare increase for FY 2023.  26 percent of the revenue in the FY 2023 operating budget comes from passenger fares. The remaining amount comes from dedicated funding from the New Jersey Turnpike Authority, which is $721 million in FY23, in addition to federal COVID-19 relief money, and a combination of commercial revenue and state and federal resources.

-via Press Release