The TriMet Board of Directors adopted the agency’s $1.96 billion fiscal year (FY) 2026 budget. TriMet notes the budget also takes steps to address a $50.2 million deficit projected for next FY and tightens spending ahead of a fiscal cliff projected in 2031.
The FY26 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 riders. The budget also includes a fund balance of $771 million, which the agency says is unappropriated and not available for spending.
Spending cuts reduce projected operating budget deficit
The FY2026 budget includes cuts to discretionary spending, with most of TriMet divisions reducing spending by two to three percent that resulted in $7.1 million in savings. TriMet notes further changes to both resources and requirements resulted in an additional $17.1 million reduction, reducing the agency’s projected operating budget deficit for the year from $74.4 million to $50.2 million.
Balancing costs of inflation, contractual obligations, state of good repair
While TriMet has worked to increase efficiencies and trim spending, the budget for FY26 increased from year to year. TriMet notes the increase is largely due to inflation, rising costs associated with contractual requirements and state of good repair needs. Expenditures, including contracted security personnel, the accessible transportation program, building leases and software license fees, are growing at a staggering rate when compared to previous years.
TriMet notes operating costs per vehicle have increased 53 percent from 2019 to 2024. Fuel and tires are up nearly 35 percent for bus service while facilities maintenance costs are up 71 percent. The agency’s LIFT paratransit service relies on contractors, and according to the agency, the cost for those personnel has increased from 47 percent to 85 percent, depending on the role.
In addition, TriMet says it is experiencing higher costs to address the challenges of an aging system. The agency notes it been running buses in the metro Portland, Ore., region for more than 55 years, and MAX has been in service since 1986.
Continuing valued safety and security efforts
TriMet notes its work to expand safety and security is contributing to an improved public perception of its transit service. The agency’s Safety and Security team totals nearly 500 TriMet and contract personnel and assist riders while providing a presence and helping deter unwanted behavior on and around the transit system.
The FY26 budget adds more blue-light security phones at MAX platforms that connect riders to the Security Operations Center. The agency adds that trained security dispatchers have access to live feeds from more than 3,000 security cameras across the system and coordinate responses to riders’ reports to the 24-hour security hotline.
Growing resources for the future
TriMet says it is focused on growing operating resources in the years ahead. Among those efforts, the agency notes it will continue to improve the rider experience and steward capital investments to increase ridership and, in turn, fare revenue. According to the agency, the FY26 budget provides a roadmap for major capital investments, including the 82nd Avenue Transit Project – TriMet’s next (Frequent Express) Line – and the development of the TV Highway Transit and Safety Project.
The agency has also joined the Oregon Transit Association (OTA) in appealing to Oregon legislators to increase funding for public transit in the 2025 transportation package. TriMet says the phased increase of 0.4 percent in the Statewide Transportation Improvement Fund (STIF) employee payroll tax over eight years sought by the OTA is necessary to avoid cuts to transit.
Adopted FY26 budget at a glance
TriMet’s adopted budget for FY26 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
