As previously disclosed, the company was initially notified by Nasdaq on October 24, 2023 that the company was not in compliance with the Bid Price Requirement for a period of 30 consecutive business days.
The financial plan reflects updates since the MTA warned of a fiscal cliff heading into 2023, with a projected $600 million deficit.
The documents project the MTA fiscal cliff presented in February 2022 will occur in 2025, one year earlier than previously forecasted, with federal COVID-19 relief aid largely exhausted by 2024.
The move will enable the agency to accelerate key capital projects in safety, advance key employee recruitment and retention initiatives, advance key investments in bus, and more.
The June forecast, which Leeds staff discussed at a study session with the board, predicts that RTD’s finances could recover to pre-COVID-19 levels two years sooner than previously predicted — by 2023.
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