RTA’s Financial Disposition Fact Sheet 2-18-09
Northeast Region Transit System
o Transit system is the second largest in the country providing more than 2 million rides a day, and has an estimated replacement value of $35 billion
o RTA currently receives approximately $500 million annually in federal capital funding, less than the amount needed to maintain the system in its current state of repair
o Our regional transit system has experienced record ridership growth but regional capital resources are inadequate to make the investments needed to satisfy that demand 2007 Operating Deficit – “Doomsday”
o RTA transit system faced a $400+ million structural deficit
o Deficit would have caused massive service cuts, layoffs and fare increases
o Needed state legislative to pass bill to continue operating transit system in its current state Current Operating Budget
o Revenues (Real Estate Transfer Tax, sales tax, etc.) are down because the overall economy is faltering and unstable
o RTA has more options now including working cash borrowing, and state and federal capital funds to invest that will help to reduce costs
Economic Stimulus Package
o RTA receives a total of $410,500,000 to distributed among the following transit agencies:
