NJ Transit says $46 million budget gap won't require cuts
(AP) -- New Jersey Transit officials say a $46 million budget gap won't require them to make cuts or raise fares.
The agency's board heard details Wednesday of the planned $2.1 billion operating budget for the coming fiscal year.
The gap is due to an approximately $54 million, one-time retroactive payment to bus workers under terms of a contract settlement last year.
Interim executive director Dennis Martin says NJ Transit should be able to close the gap by the end of the fiscal year on June 30 by internal savings, and won't require cuts to staff or service.
The agency raised fares an average of 9 percent last year, its fifth fare increase since 2002.
NJ Transit is still negotiating with two rail unions that haven't ratified an agreement announced in March.