A budget crisis and fare hikes loom a year from now.
Larry Higgs | NJ Advance Media for NJ.com
NJ Transit’s board of directors approved the agency’s $2.86 billion operating budget for the next fiscal year that calls for hiring 70 new people and makes a small stab at reducing an approaching fiscal cliff, projected to start a year from now. The 13-person board voted unanimously Wednesday on the fiscal year 2024 operating budget that increased 4.1% — or $113 million more than the $2.75 billion fiscal year 2023 budget. Agency documents said $21.5 million was reduced from the spending plan for fiscal year 2024. The new fiscal year started July 1.
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