I'm not an accountant, but I believe certain recurring repairs that have a long payback period, such as a Form 4 rebuild, or a large scale tie and ballast project,are considered capital expenditures. Operating expenses are short term, such as train operations, building heat etc. Accountants please correct and/or expand. The States do not contribute to train operations. But certain expenses are the responsibility of the landlord, not the tenant, such as roof replacement.
The Commission and the States are committed to a long-term program designed to reach a point of self sufficiency, and no longer need State investment once the deferred maintenance that dates back well into the Rio Grande era has been corrected. Then revenue from Operations would pay for routine tie replacement, etc. The C&TS belongs to the States, and we have seen what happens when the owner neglects its property.
Train operating expenses are in the black, and independent auditors have approved the bookkeeping.
Again, watch the videos.
Steve
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