October 21, 2013

Chicago Transit releases 2014 budget recs

Chicago Transit Authority (CTA) President Forrest Claypool proposed a balanced $1.38 billion budget that maintains transit service and holds the line on customer fares, while continuing unprecedented investment in projects and programs to improve service and modernize regional transit.

The budget reflects the positive impacts of operational efficiency reforms by CTA management to reduce wasteful spending and manage day-to-day operations more efficiently. The budget also includes the 1,000 customer-facing jobs the CTA created in 2013 to better serve passengers.

The agency in 2014 will continue its ambitious $4 billion capital investment plan begun in 2011, including rehabilitating rail stations, modernizing rail and bus fleets, and bringing the agency’s massive infrastructure into a state of good repair to improve reliability and safety.

“The CTA has operated efficiently and responsibly with three straight years of balanced budgets after inheriting a $308 million deficit in 2011,” said CTA President Forrest Claypool. “We’ve done so through rigorous management reforms that have reduced waste and trimmed spending, while upholding service and fare levels for our customers and creating permanent jobs that better serve passengers. Our new collective bargaining agreement with CTA labor unions has also contributed significantly to the financial turnaround, allowing us to reduce costs while also adding good service-providing jobs for union members.”

The CTA continues its strong financial performance despite the negative effects of state budget cuts and higher unfunded state mandates for everything from health care and pension costs to free and discounted rides.

The budget reflects management reforms previously put into place, including modernizing supply chain operations to better track purchases and inventory and achieve lowest-cost pricing. It also includes progress in lowering absenteeism, which has declined in 2012 and 2013 and is estimated to save the agency $10 million a year.

 

deli.cio.us digg it stumble upon newsvine
[ Request More Info about this product / service / company ]


E-NEWSLETTER

Receive the latest Metro E-Newsletters in your inbox!

Join the Metro E-Newsletters and receive the latest news in your e-mail inbox once a week. SIGN UP NOW!

View the latest eNews
Express Tuesday | Express Thursday | University Transit

White Papers

Mass Transit Capital Planning An overview of the world-class best practices for assessing, prioritizing, and funding capital projects to optimize resources and align with the organization’s most critical immediate and long-term goals.

More white papers


STORE
METRO Magazine - February/March 2014

METRO Magazine
Here are the Highlight:
  • Time Running Out for Funding A New Surface Transportation Bill
  • Mobile Ticketing Makes Strides, E-fare Tech Ramps Up
  • Telematics Systems: Making Good Fleets Great
    And much more…
  •  
    DIGITAL EDITION

    The full contents of Metro Magazine on your computer! The digital edition is an exact replica of the print magazine with enhanced search, multimedia and hyperlink features. View the current issue