Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View Current Digital Issue »


Rail News Home Passenger Rail


Rail News: Passenger Rail

GCRTA projects year-end budget balances will ensure long-term stability

GCRTA anticipates no layoffs, furloughs or service reductions.
Photo –


Federal dollars allocated to the Greater Cleveland Regional Transit Authority (GCRTA) in response to COVID-19 made up for a loss of $20 million in operating expenses in 2020, according to a report by Rajan Gautam, the agency's secretary treasurer and deputy general manager of finance.

Gautam also determined the loss in 2021 could have included an additional $50.2 million and the projected loss in 2022 would have totaled $46.8 million.

The three stimulus packages totaling $315 million are enabling GCRTA to cover operating losses, which in turn creates an opportunity to strategically address past financial constraints, Gautam said in a press release.

GCRTA’s projected ending balances will be prioritized to primarily support three areas: the operating budget, unfunded capital projects and debt reduction. The agency isn't anticipating any staff layoffs, furloughs or service reductions.

GCRTA now is a solid financial steward, creating long-term stability today and for the future, said GCRTA Interim Chief Executive Officer and General Manager Floun’say Caver.

“[We are] anchoring the organization for the future by stabilizing operational costs, funding capital projects and simultaneously paying debt service," he said.


Contact Progressive Railroading editorial staff.

More News from 5/28/2021