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CTA finance report: ridership boosts revenue; $725M in federal relief remains to close deficit
Summary
CTA finance staff told the board that October ridership outperformed budget, driving fare revenue gains and putting system-generated revenue roughly $10 million above budget year to date; staff reported a $25.5 million federal relief draw in October and about $725 million remaining in that fund to address the operating deficit.
Tom McCone, CTA chief finance staffer, told the Finance, Audit and Budget Committee on Dec. 11 that October produced stronger‑than‑expected ridership and positive revenue variances. "So positive to budget on both fares and passes for the month," McCone said, adding that fare and pass totals were up $5,700,000 for the year versus budget and $21,600,000 versus last year.
The repo…
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