New Jersey Transit trustees voted to approve a $2.316 billion operating budget in fiscal year 2019 and a $1.465 billion capital budget.
The operating budget is an increase of $94 million over fiscal year 2018.
This spending package does not raise customer fares. It funds the installation of positive train control and the hiring of 114 employees.
Meanwhile, trustees also voted to approve a seven-year advertising revenue contract with Intersection to sell NJ Transit’s advertising inventory.
The trustees also voted to approve an authorization to enter into a 10-year lease with Starbucks to operate retail space in Newark Penn Station and a five-year contract with Allvision LLC to provide management of advertising displays on billboards located within NJ Transit’s right of way, facilities and properties.