VRE probably will not raise fares next year due to uncertainty of ridership levels

Many agencies across the region are looking at both permanent and temporary/
promotional fare changes in response to the reduced ridership levels of the pandemic. VRE
will look at a wide range of options to attract riders, but ultimately fare revenues are
critical to VRE’s long-term sustainability and prudent financial management. The initial
view of staff, which is expected to be reflected in the preliminary budget in September, is to
hold fares steady at their current levels in FY 2023. Given the uncertainty of ridership
recovery, it is also likely that the Operations Board will be asked to waive the 50 percent
farebox recovery requirement, as was done for the amended FY 2022 budget.

Using federal pandemic relief funds, VRE was able to provide relief for local jurisdictions on
their VRE subsidy in FY 2022. However, the local revenue picture in most of the
jurisdictions continues to improve, and it is not clear that such relief is needed again in FY
2023. The initial view of staff is that VRE should reserve the pandemic relief funds to
backfill uncertain passenger revenues and should return to a normal subsidy level in FY
2023

Normally VRE raises fares every two years, but did not last year or this year due to the pandemic

https://www.vre.org/about/board/board-a ... ssues-pdf/

Normally they raise fares every two years?!? wth! glad to see they won't be this year.

daybeers wrote: ↑Wed Jul 14, 2021 7:45 pm Normally they raise fares every two years?!? Glad to see they won't be this year.

MTA (NY) does as well, in odd years. No fare changes this year.

Raising fares to go along with rising wages and expenses is sometimes called being responsible......

Some agencies are clearly better than others at farebox recovery.