$1.84 billion budget provides framework to grow ridership, improve the customer experience and add service, as operator staffing levels allow
During its May business meeting, the TriMet Board of Directors adopted the agency’s Fiscal Year 2025 budget. The $1.84 billion budget supports TriMet’s goals to restore ridership to pre-pandemic levels and beyond in an ambitious, agency-wide effort to bring more people on board our buses and trains than ever before. Our world-class transit system – which currently serves about 1.3 million trips each week – connects people with opportunities and improves our region’s livability. When the community supports transit, you not only help people who ride, but you also benefit the entire Portland region, bringing us closer to achieving climate goals, relieving traffic congestion, improving the movement of freight and other goods and fueling economic growth.
TriMet’s budget for the coming fiscal year that runs from July 1, 2024 through June 30, 2025 includes:
- $508 million for operations
- $229 million for general and administrative costs
- $200 million for capital and operating projects
- $903 million for contingency, debt service, fund balance, other non-operating requirements and other post-employment benefits.
When it approved TriMet’s FY2025 Budget in April, the Multnomah County Tax and Supervision Conservation Committee (TSCC) confirmed all estimates to be reasonable and in compliance with Oregon Local Budget Law. Following the TSCC’s certification, TriMet revised some budget totals based on updated financial performance and internal reports. Altogether, the changes increased expenditures by approximately $89 million, an amount which falls within limits allowed by state law.
Funding priorities
The budget provides for the continued operation and maintenance of our transit system, which covers 533 square miles across Multnomah, Washington and Clackamas counties. It accounts for plans to expand and improve bus service with our Forward Together service concept; continue expanding investments in safety, security and cleaning; invest in capital and operating projects that improve the rider experience; and, advance our transition to a 100% zero-emissions bus fleet. In addition, the budget provides a framework for TriMet’s reorganization and strategic planning, including the creation of two new divisions to align agency initiatives and priorities to grow ridership. TriMet is working to address operator and mechanic shortages, but we expect staffing challenges to continue through the next fiscal year.
Funding resources
TriMet’s primary funding resources include $83 million in operating revenue; $540 million in tax revenues and $170 million in federal funding. Additional resources include the Statewide Transportation Investment Fund (STIF), which is a vital resource for service and fare programs.
The fiscal year 2025 budget incorporates the first full year of the fare increase that began in January 2024. The base fare increase was our first in more than a decade, but TriMet minimized the impact, especially for frequent riders, by choosing not to increase monthly rates for Adult, Honored Citizen and Youth riders. One hundred percent of the funds that TriMet receives from fares go toward our transit service.
Fiscal Year 2025 Budget
The adopted budget reflects TriMet’s Business Plan, which provides critical guidance to TriMet’s operating and capital investments. Review the final, adopted version at trimet.org/budget.
