OCTA’s $1.7 billion balanced budget for the upcoming fiscal year that begins July 1keeps 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 2023-24 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 voter-approved OC Go 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.”
Other themes of next year’s budget include:
OC Go, also known as Measure M, 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.
The FY 2023-24 budget encompasses all services, projects and programs that are administered by OCTA.