Soaring fuel prices bug more than just drivers. Just ask Caltrain.
The difference between paying $2.10 per gallon and $2.40 a gallon for diesel fuel will cost Caltrain a budget-busting $1.5 million.
The Caltrain board (JPB) is proposing to cover about $1 million of the agency’s increased fuel costs by raising fares and parking fees. If approved, the hikes would take effect later this year.
The board has set two meetings on the on the proposals:
• On Wednesday, June 28, at 6 p.m., a community meeting to take public comments, at SamTrans headquarters, 1250 San Carlos Ave. in San Carlos.
• On Friday, June 30, at 1 p.m., a public hearing to take public comment and make a decision, also at SamTrans headquarters.
The board is proposing two alternatives for increasing fares: an increase of 25 cents per zone; and a 25-cent increase in base fare, plus 25 cents per zone. The proposal includes an increase in parking fees from $1.50 to $2 per day, and parking passes from $15 to $20 per month.
Caltrain budget
Fuel costs were just one factor pushing up costs for the passenger rail line running down the Peninsula between San Francisco and Gilroy.On June 1, the three-county Caltrain board approved an operating budget of $83.4 million for fiscal year 2006-07 (starting July 1) — up 8 percent from the current fiscal year.
For 2007, projected revenue increases are more than offset by increased expenses.
On the revenue side, farebox revenue is up by more than 9 percent, thanks to fare increases, higher ridership, and the popularity of the Go Pass program, according to the staff report.
The three participating counties increased their contributions to running the railroad by 3 percent. San Francisco is paying $6.8 million; San Mateo County, $15.8 million; and Santa Clara County $15.2 million, according to Jonah Weinberg of SamTrans.
On the expense side, fuel costs were already up 19 percent (at the originally estimated $2.10 per gallon); operations and maintenance are up 8 percent; and employee wages and benefits are up 18 percent.
Transit watcher Jim Bigelow, chair of the Menlo Park Chamber of Commerce transportation committee, warned that Caltrain has dangerously low reserves — especially since the board voted to take the final $550,000 deficit out of reserves of about $1.5 million. The alternative was to raise the contributions by member agencies by 1.3 percent.
That action leaves Caltrain with $1 million in reserves.
“They cannot run all year and be solvent if the price of diesel continues to rise,” Mr. Bigelow pointed out.
