NJ Transit adopts 2007 budget, awards contracts.(INDUSTRY TODAY)

The NJ Transit Board of Directors adopted a $1.5-billion operating budget and a $1.3-billion Capital Program for Fiscal Year 2007 that funds the transit system through June 30, 2007. The Board's action also sets in motion a number of capital projects, including continuing critical work to keep stations, terminals and railroad infrastructure in a state of good repair.

The majority of the FY07 Capital Budget--$789 million--is dedicated to fixed expenses such as capital maintenance, debt service and earmarked funds: $219 million for new starts, including $105 million for