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CVTA finance committee recommends GRTC’s FY27 regional transit spending plan to full authority
Summary
The CVTA Finance Committee voted May 13 to recommend GRTC’s FY27 regional public transportation plan to the full authority, endorsing use of prior‑year accruals to fund $33.2 million for maintenance of service and placing roughly $1.9 million into a restricted reserve for future use.
The Central Virginia Transportation Authority Finance Committee voted May 13 to recommend the Greater Richmond Transit Company’s FY27 regional public transportation plan to the authority for final approval.
Adrien Torres of GRTC presented the agency’s FY27 spending plan, which uses prior‑year accruals to propose $35.1 million in expected funds. Under the plan, about $33.2 million would be used to maintain existing service levels next year, leaving roughly $1.9 million to be placed in a restricted reserve for future needs. Torres said that modest capital outlays would focus on vehicles and state‑of‑good‑repair matches, with the remainder supporting ongoing operations and a restricted reserve to smooth future needs.
"We put 31.2 million toward maintaining service and about 2 million for match needs," Torres said, summarizing the FY27 allocation approach. He added that GRTC typically places small uncommitted balances into a restricted reserve to address mid‑year needs.
Committee members questioned GRTC staff about capital priorities (including bus shelters) and microtransit pilots that will reach three‑year evaluations in FY28. In response, Torres described three decision pathways under development for FY28: a baseline maintaining current service, a moderate expansion scenario, and an unconstrained scenario that would look more like fixed‑rail service in scale. He said GRTC is coordinating a jurisdiction‑by‑jurisdiction outreach effort and a core design retreat to refine those scenarios.
Members also asked about GRTC’s continued zero‑fare policy. Torres said zero fare remains in the agency’s FY27 budget; funding strategies include a mix of fundraising, an advertising program whose proceeds go to a fare‑offset reserve, and targeted corporate and foundation contributions through a RideFinders 501(c)(3) vehicle.
After discussion, the finance committee made and seconded a motion to forward GRTC’s FY27 regional public transportation plan to the full authority. A roll‑call recommendation recorded affirmative votes from Chesterfield County (Mr. Carol), Goo(s)eland County (Mr. Winfrey), New Kent County (Chair Moyer), the City of Richmond (Mayor Bula) and the Commonwealth Transportation Board (Mr. Davis). The motion passed.
The committee’s recommendation will be considered by the full CVTA authority at its upcoming meeting. The finance committee noted that the FY28 planning work — including evaluation of microtransit pilots and jurisdictional priorities — will inform future allocation requests and potential service expansions.
