A transportation agency with a budget surplus and money to spare on capital investments isn't something that happens every day, especially not in cities considered part of the "Rust Belt."
"The Port Authority [of Allegheny County] expects to use $4.4 million in surplus funds to balance its proposed budget of $419.7 million for 2017-18," reports Ed Blazina.
"Pete Schenk, the agency's chief financial officer, told a board committee Thursday morning the agency expects to end the current fiscal year June 30 with a surplus of about $11 million," adds Blazina.
With the surplus in hand, the Port Authority is proposing an expanded budget for the 2017-18 fiscal year, with $133.4 million intended for capital investments like "buying 70 new 40-foot diesel buses, expanding a multi-modal station in McKeesport and contributing $2 million to the Pennsylvania Department of Transportation's plan to replace the Kenmawr Avenue Bridge in Rankin so it could accommodate a possible extension of the Martin Luther King Jr. East Busway."
Read the full story: Port Authority will use part of $11M surplus to balance proposed budget
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