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CTA finance staff reports midyear revenue gains overall but fare growth below targets; board hears about $771M funding cliff concern
Summary
CTA presented June and year-to-date finance results showing non-fare revenue and public funding ahead of budget while farebox growth trails projections; staff outlined steps to monitor ridership and lock a 2026 power purchase, and a public commenter asked for contingency plans for an identified $771 million funding gap.
Tom McComb, CTA chief finance staff, told the Finance, Audit and Budget committee on Aug. 13 that June results show mixed performance: fare and pass revenue remained slightly below the budgeted targets for the month but were higher than the prior year, while non-farebox revenue and investment returns were positive. McComb said system-generated revenue was about $7.8 million favorable to budget year‑to‑date and operating expense variances were favorable by about $39.4 million through June. He also said public funding—driven by stronger sales-tax collections and real-estate transfer-tax receipts—was favorable by roughly $12.8 million for the most recent month and about $49.9 million year‑to‑date.
McComb emphas…
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