$1.7 billion transportation budget approved last week for FY 2023-24
OCTA
The Orange County Transportation Authority Board of Directors this week approved a balanced budget of $1.7 billion for the upcoming fiscal year that begins July 1.
The budget keeps essential transportation improvements moving forward while responsibly planning for a balanced and sustainable transportation future for Orange County.
The approved budget makes significant investments in public transit—totaling approximately 52% of the overall budget—and makes improvements to Orange County’s freeways and streets to keep the county moving safely and efficiently.
Overall, the fiscal year 202324 budget represents approximately a $48 million increase over the previous year’s budget. By comparison, last year’s budget rose by nearly 30%, after two years of budget cuts largely due to the COVID-19 pandemic.
The coming year’s budget anticipates a moderate increase in sales tax receipts that help fund transit and other transportation projects through the voterapproved Measure M half-cent sales tax from transportation improvements administered by OCTA.
“I’m proud of the work we’re doing at OCTA to continue delivering a balanced budget that benefits Orange County residents, workers and visitors,” said OCTA Chairman Gene Hernandez, also the mayor of Yorba Linda. “With this funding plan we successfully demonstrate that we remain responsible stewards of taxpayers’ dollars while providing a safe, reliable and sustainable transportation system for all.”
Highlights of next year’s budget include:
• Sustaining the current level of bus operations despite exhausting federal relief funds.
• Ongoing investment in zero-emission buses and infrastructure to support the ongoing conversion to a full zero-emission fleet
• The 91 Express Lanes continues to meet its commitments
• Plans to open the 405 Express Lanes in late 2023, along with the overall I-405 Improvement Project completion
• Delivering on the projects and programs promised through Measure M
• Continuing to support Metrolink service at 90% of prepandemic service levels
• Advancing planning studies for longer-term solutions to protect the coastal rail line
• Making significant progress toward completion of the OC Streetcar project Measure M, also known as OC Go, will continue to fund improvements to freeways and streets throughout Orange County, along with multiple transit and environmental programs.
Major initiatives for the budget include advancing capital improvement projects on freeways, including I-405, I-5 in south county, SR-55, SR-57 and SR-91.
The year ahead will also improve local streets and continue serving Orange County’s transit needs, while moving toward a goal of zero-emissions to help improve air quality for the entire community.
