That is in "uninflated" dollars and does not count almost $500 million for electric trains and $2.4 billion for a central city rail tunnel, for which Auckland Mayor Len Brown says any local share will be covered over the next 10 years from loans rather than rates.
Auckland Transport has ditched plans for a $20 million parking building from near Manukau's new railway station, a project understood to have caused some concern to senior council officials.
Funding is also being deferred on several roading projects, although brought forward on others, to meet a requirement for all council-controlled organisations to prune 3 per cent from their 10-year capital budgets.
Although the council staff reports point to a 10-year allocation of $96 million to local boards for discretionary transport initiatives - at Mr Brown's request - Auckland Transport has had to reduce its roading renewals programme by $159 million.
One local board, Kaipatiki on the North Shore, is upset that not only are roading projects aligned to plans to upgrade the Highbury and Glenfield town centres being deferred, but also that a Beach Haven ferry service is now unlikely to start before 2017.
Chairwoman Lindsay Waugh said the board had been "totally undermined" over the town centre plans and deferral of the ferry, which was to have been introduced in conjunction with a new service due to start this year from Hobsonville.
"With all the emphasis on public transport to make Auckland a liveable city, this is one piece of infrastructure that is affordable, whereas you're going to have to keep resurfacing the roads."
Auckland transport projects
WINNERS
* Albany Highway (Sunset Rd to State Highway 17, Albany) - $34m increase to $100m.
* Dominion Rd - $28m increase to $90m.
* Lake Rd in Takapuna - $19m increase to $54m.
* $26m on extra on cycleway projects.
CUTS
* $26m in upgrades to the Hibiscus Coast Highway near Orewa.
* $22m from $715m of Ameti project spending.
* $8m from $58m for Penlink toll road to Whangaparaoa Peninsula.
* $14m of $42m deferred for bus lanes along Pakuranga Highway.
* $8m from a $16m upgrade of Sunnybrae Rd through Glenfield.
* $8m from a $33m upgrade of Tamaki Drive.
* $20m parking building from near Manukau's new railway station.
* Beach Haven ferry service.