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Restrictive legislation, limited revenues and increasing service demands from municipal partners are hindering the agency, President and CEO Manuel Achadinha said.
Read More →Will save approximately $7.2 million in salaries and benefits by eliminating more than 70 positions — including more than a dozen at manager level.
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Dwindling sales tax revenues continue to have a serious impact on many transit agencies around the nation, with 78 percent of this year's respondents to the survey saying they are experiencing budget issues.
Read More →Three out of four agencies responding to the annual survey reported that their ridership numbers were down due to the economy and some were additionally impacted by raising their fares. The average transit executive salary totals $157,000, while the average time spent in the industry tops 25 years.
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As decreased revenue continues to impact transit agencies' budgets, many are continuing to find ways to become more efficient and remain a part of the entire intermodal solution. New York City Transit remains in the top spot of this year's survey.
Read More →Instead of reducing service, agency may add a $1 charge for riding longer distances faster to help close a budget deficit.
Read More →In three of the previous four fiscal years, the transit agency needed to draw from its modest savings to plug end-of-the-year deficits, including a $33.3 million hole in 2009.
Read More →The lawsuit, filed in State Supreme Court, came a day after the agency said it could no longer fund bus service in the county because of a budget shortfall.
Read More →Plan relies on expanded cost-cutting initiatives, controlling labor costs and increasing fares and toll revenue.
Read More →In June, the board began considering how to use the surplus and proposed using about half, or $2.3 million, for a short-term fare reduction. The two fare reduction options that are under consideration were cutting fares by 3 percent for four months, or by 5 percent for three months.
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