2009 budget process begins

Today, President Huberman presented his 2009 budget recommendation to the Transit Board.  Veteran readers know how this goes , but for our new readers let me explain how the budget process works.  Despite today's headlines, the Board took no action today on fares or any other aspect of the 2009 budget.  Instead, President Huberman gave the Board his budget recommendation based on the RTA funding marks--what RTA tells us we can expect in public funding and some assumptions about what tax revenue CTA can expect in the coming year--and now the Board has some time to analyze his recommendations and assumptions before voting to adopt a 2009 budget on November 12 at our next Board meeting.   I know that Ron identified some serious cost reductions and efficiencies, including recommending substantial layoffs at CTA. I encourage you to review his recommendations and weigh in with your thoughts on this blog.  You can also write to the Board at ctaboard@transitchicago.com with comments.  Finally, the Board is hosting a public hearing on the President's budget recommendation on October 29th at 6PM at CTA Headquarters, 567 W. Lake Street. 

Before Ron put together his recommendations, I insisted there be no reduction in service levels for 2009.   Therefore, his recommendation does not include any service cuts.  But as you well know, we are in very uncertain financial times, and many of the public revenue sources that fund operations  are expected to  go down.   Costs keep going up, revenues are going down, and we continue to be without a capital program--this is not an ideal situation.  Consequently, the proposed budget does include a fare increase.  Rest assured that I know how important reliable, affordable public transit is to you.  I will work hard to come up with a budget that minimizes as much as possible the impact on customers. 

I look forward to hearing from you.