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Autin's public transit provider CapMetro keeps lowering budget

Still, CapMetro's plans for improvement continue on.

Photo courtesy of KVUE

Austin’s public transit provider, CapMetro, plans to cut its budget by about 20 percent for next year.

The decision comes as the agency faces a downturn in sales tax revenue.

CapMetro's proposed budget for the 2024-25 fiscal year is $704.8 million. However, for the last few years, CapMetro's budget has declined. For 2023-24, the board of directors approved a budget of $871 million, and in 2022-23, they approved a $902.8 million budget.

“We’re in good financial position,” said CapMetro Deputy CFO Kevin Conlan during a September 11 board meeting. “I’m very optimistic for next year, but we remain very guarded as well, with a downturn in sales tax.”

In this proposed budget, they are expecting a sales tax revenue of $402.8 million. Despite a lower budget, CapMetro said it still plans to bring some large projects online.

Their capital improvement budget, at $229.8 million, makes up for the largest of their expenses. The largest chunk of that budget, $149.1 million over five years, will go toward a North Demand Response Facility and their new headquarters build-out.

More improvements include $15 million for CapMetro Pickup, the on-demand ride share shuttle that picks people up right in their neighborhoods, and $2.4 million toward BikeShare operations and expansions. Earlier this year, CapMetro started replacing all of the city bikes with fully electric ones.

Read the full story and watch the video at KVUE.com.

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WFH life

Austin plugs in as 2nd cheapest large U.S. city for remote workers

Photo by Lewis Guapo on Unsplash

Working remotely in Austin is far more affordable than many other U.S. cities.

Austin's thriving telework industry is already known for being among the most prominent in the country, and as it turns out, it's one of the most affordable, too. A recent study by online retailer The Perfect Rug has revealed Austin is the No. 2 cheapest U.S. city center for remote work.

The report ranked the top 10 largest U.S. cities based on population data, the number of coworking spaces and cafes per capita, statewide average internet speeds, average apartment rent prices, and more.

Austin falls second to the far west Texas city of El Paso (No. 1), and is followed by Houston in the No. 3 spot.

When it comes to finding the best place to work remotely, Austin has an abundance of options including coffee shops, coworking spaces, and local library branches. According to the report's data, there are about six coworking spaces and 26 cafes per capita in the city, but Austinites know best that there is a much wider variety of places to work from "home" than whatever number a study determines.

The average internet speed in Texas is 425.9 mbps (megabits per second), which is the fourth-highest internet speed out of the six total states (and the District of Columbia) mentioned in the study. Pennsylvania, Washington, and Washington, D.C. all have faster average internet speeds, at 430.8, 451, and 473.8 mpbs, respectively.

The Perfect Rug also calculated the average costs for meals, coffee, and monthly rent in Austin:

$1,467 per month – Average apartment rent cost in central Austin
$21 per hour – Average cost for a desk at a coworking space
$16.99 – Average cost for a meal
$5.36 – Average cost for a coffee

Furthermore, Austin-based remote workers are technically saving on fuel costs compared to those who have to commute into the city daily for their jobs.

A spokesperson for The Perfect Rug said Texas cities like El Paso, Austin, and Houston are far more popular for "budget-conscious" remote workers partially because rent costs are far lower in comparison to many other U.S. cities.

"On the other hand, cities like Washington, D.C., and Seattle, while more expensive, compensate with faster internet speeds and a higher density of workspaces, which can enhance the remote work experience," the spokesperson said. "Finding the right balance between cost and amenities is key for remote workers seeking both productivity and affordability."

Elsewhere in Texas, San Antonio ranked as the fifth most affordable city for teleworkers, followed by Dallas (No. 7).

The top 10 cheapest U.S. cities for remote workers are:

No. 1 – El Paso, Texas
No. 2 – Austin, Texas
No. 3 – Houston, Texas
No. 4 – Seattle, Washington
No. 5 – San Antonio, Texas
No. 6 – Washington, D.C.
No. 7 – Dallas, Texas
No. 8 – Denver, Colorado
No. 9 – Philadelphia, Pennsylvania
No. 10 – Nashville, Tennessee

austin reports rankings remote work