The MBTA collected a record-setting $624.4 million in fare revenue in fiscal year 2014, and, for the sixth consecutive month, saw its ridership increase.
“Thanks to increased ridership in the second half of Fiscal Year 2014, fare revenue collections finished 2.1% above FY 2013,” the T’s general manager, Beverly Scott, said in a statement. Last year’s fiscal year ended on June 30.
Despite the 5 percent fare hike that kicked in July 1, the T continued to see a jump in ridership. An average of 1.219 million passenger trips were taken in July, good for a year-over-year increase of nearly 3 percent.
“We also experienced robust ridership levels on weekends in July,” said Scott. According to the T, Saturday ridership was 3.6 percent higher than July 2013, and Sunday ridership increased by 1.4 percent. Commuter Boats also saw their busiest month in two years, serving an average of 6,800 ferry riders each weekday.
Scott said, due to “cost-cutting initiatives,” the increase in fare collections allowed the T to exceed total expenses by $14.2 million in FY 2014. “That money,” Scott noted, “goes directly into our Capital Maintenance Fund to help pay for much-needed repairs and upgrades to our aging infrastructure.”
And the repairs really are overdue: Boston’s subway system – the oldest in America – turns 117-years-old Monday, September 1.
Here’s the T’s full ridership data:
Photo via Dan4th Nicholas
