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Rail News: Passenger Rail

CTA makes up 2009 budget deficit


Yesterday, the Chicago Transit Authority (CTA) board approved an amendment to the agency's 2009 budget to address a $154.7 million shortfall created earlier this year, when the Regional Transit Authority (RTA) reduced CTA's expected public funding from $723.3 million to $568.6 million.

Officials balanced the budget by reducing labor, materials, fuel and power costs. The agency also opted to use stimulus funds to rehabilitate rail cars and buses, which will help reduce operating and maintenance costs, CTA said. In addition, the agency will use capital dollars for preventive maintenance, the RTA will provide $8 million and CTA will use proceeds from a prior leasing agreement to cover the remainder of the deficit.

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More News from 5/15/2009