Here's another in the continuing series where I read and summarize board reports so you don't have to.
At the halfway point through the year, the CTA is reporting that total revenue exceeds budget by about $6 million, while total expenses are about $30 million less than budgeted. That's after some belt-tightening, layoffs, and furloughs, among other cuts.
This post details some of those cuts. CTA President Richard Rodriguez also told the board that he saved $3 million by:
- Deferring budgeted merit increases of abot 3% for non-union employees.
- Taking away from upper management pay for the remaining standard holidays.
- Forcing vice presidents and above to take three unpaid furlough days this year.
Ridership report. Overall ridership systemwide is up a scant 0.4% through July, compared to the same time frame last year. Bus ridership is down 3 millions rides this year, or about 1.6% down compared to last year. But rail rides increased about 3.7%, up 4.1 million.
Form the report:
"An analysis of July ridership shows that weekday rush period ridership is down on both bus and rail; however, weekday off-peak ridership has increased on the rail system. Weekend ridership on the rail system has also increased."