Auditor General Report

I am delighted to report that Illinois Auditor General Bill Holland has concluded his audits of RTA, Pace, Metra, and CTA. Finally, we have independent verification of what we have been saying all along. The report highlights the need for increased transit investment, and it supports CTA's efforts to secure additional reforms and efficiencies in labor operations and pension financing.

The audit report supports arguments CTA has highlighted for several years:

1. The clean financial audit confirms the integrity of CTA's accounting, and the performance audit verifies that CTA's efficiency is generally consistent with industry standards.
2. Regional transit faces a "serious financial shortfall" that must be addressed to provide sustainable service and to secure new federal funds.
3. The joint labor-management pension plan for CTA employees is seriously underfunded, and reforms are needed to employee pensions and the collective bargaining process.

I look forward to working with state lawmakers to help get public transit funding back on track.

CTA's full statement can be found here, the summary and full report are here, and CTA's detailed responses can be found beginning on page 45 of this PDF document.