The FY2026 budget includes $789.1 million in total divisional operating costs and $165.3 million for capital projects “to address maintenance of an aging transit system and increase reliability for TriMet’s riders,” the agency noted. The budget also includes a fund balance of $771 million, which is unappropriated and not available for spending.
According to TriMet, the FY2026 budget also includes cuts to discretionary spending, with most of TriMet’s divisions reducing spending by 2-3%. That, the agency says, resulted in $7.1 million in savings. Further changes to both resources and requirements resulted in an additional $17.1 million reduction. “This reduced our projected operating budget deficit for the year from $74.4 million to $50.2 million, which better positions our agency for the future. We’ll continue to identify areas for efficiencies and cost reductions, to help avoid an unmanageable deficit ahead of the fiscal shortfall,” TriMet said.
While TriMet has worked to increase efficiencies and trim spending, the budget for FY2026 increased from year to year, according to the agency. “The increase is largely due to inflation, rising costs associated with contractual requirements and state of good repair needs. Expenditures, including contracted security personnel, our Accessible Transportation Program, building leases and software license fees, are growing at a staggering rate when compared to previous years,” TriMet said.
Operating costs per vehicle have increased 53% from 2019 to 2024. Fuel and tires are up nearly 35% for bus service, while facilities maintenance costs are up 71%. TriMet’s LIFT paratransit service relies on contractors and the cost for those personnel has increased from 47% to 85%, depending on the role.
In addition, TriMet says it is experiencing higher costs to address the challenges of an aging system. The agency has been running buses in the metro Portland, Ore., region for more than 55 years, and MAX—one of the oldest modern light rail systems in the U.S.—has been in service since 1986. “The Federal Transit Administration (FTA) requires TriMet to meet “state of good repair” benchmarks, to keep the entire system—including our facilities and aging infrastructure — maintained and operating reliably,” TriMet noted.
“TriMet’s work to expand safety and security benefits riders and employees and is contributing to an improved public perception of our transit service,” the agency noted. TriMet’s Safety and Security team—now totals nearly 500 TriMet and contract personnel. They assist riders while providing a presence and helping deter unwanted behavior on and around the transit system. The agency’s FY2026 budget adds more blue-light security phones at MAX platforms that connect riders to TriMet’s Security Operations Center. Trained security dispatchers have access to live feeds from more than 3,000 security cameras across TriMet’s system and coordinate responses to riders’ reports to the agency’s 24-hour security hotline.
Additionally, TriMet says it is focused on growing operating resources in the years ahead. Among those efforts, the agency says it will continue to improve the rider experience and steward capital investments to increase ridership and, in turn, fare revenue. Addressing our goals to provide transit service that is fast, frequent and reliable, the FY2026 budget provides a roadmap for major capital investments including the 82nd Avenue Transit Project—TriMet’s next FX (Frequent Express) line—and the development of the TV Highway Transit and Safety Project.”
“As we work to improve our service and the experience on board, we also look to secure long-term sources of stable financial support. TriMet has also joined the Oregon Transit Association (OTA) in appealing to Oregon legislators to increase funding for public transit in the 2025 transportation package. The phased increase of 0.4% in the Statewide Transportation Improvement Fund (STIF) employee payroll tax over eight years sought by the OTA is necessary to avoid cuts to the transit service that is essential for TriMet riders,” TriMet added.
Highlights of TriMet’s adopted budget for the coming fiscal year that runs from July 1, 2025, through June 30, 2026, includes:
- $552.5 million for operations.
- $236.6 million for general and administrative costs.
- $165.3 million for capital and operating projects.
- $1.002 billion for contingency, debt service, fund balance, other non-operating requirements and other post-employment benefits.
Oregon Local Budget Law (ORS 294.305 to 294.565) requires the Board to adopt a balanced budget before the start of TriMet’s new fiscal year on July 1, 2025.
