SAN CARLOS (CBS SF) – Caltrain will continue to run its current train schedule through 2012 without closing any stations under the budget approved Thursday.
In a 5-3 vote in San Carlos, the Peninsula Corridor Joint Powers Board adopted a resolution that would impose a 25-cent increase on the base fare and a $1 increase in daily parking fees at Caltrain lots.
But Caltrain officials said that additional revenue is not nearly enough to solve the agency’s long-term budget problems.
“There’s not a pot of money at the end of the rainbow,” said Adrienne Tissier, a member of the Peninsula Corridor Joint Powers Authority board.
KCBS’ Margie Shafer Reports:
Tissier said what the board 5 – 3 passed is a conceptual operating budget with a $3.5 million deficit that must be filled in by other transit agencies.
Omar Ahmad said the budget plan will put Caltrain into debt since it diverts funds set aside for preventative maintenance to cover the day to day costs of running the system.
All agreed Caltrain would need a dedicated source of funding to survive.
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