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CTA reports year‑end revenue gains but warns of a large fiscal gap for 2026–27
Summary
Tom McCone, CTA chief financial officer, told the board the agency finished the fiscal year with revenue modestly above budget and a designated operating reserve derived from federal relief funds, but staff project an operating gap of about $600 million in 2026 that grows to roughly $642 million in 2027.
Tom McCone, Chicago Transit Authority chief financial officer, presented the agency’s December and year‑end financial results and answered board questions about the agency’s remaining federal relief funds and projected budget gaps for 2026 and 2027.
McCone reported system‑generated revenue for the year of about $440.7 million, roughly $13.2 million better than budget and $28.6 million ahead of the prior year, with farepass revenue and pass adoption cited as contributors. Non‑farebox revenue finished about $1.6 million positive to budget for December largely from investment income, and public‑funding receipts (including…
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