The Regional Transportation District is searching for methods to beat a projected $166 million funds shortfall in 2021, and taking cash earmarked for FastTracks tasks and decreasing service are some the options the board of administrators are contemplating.
RTD is struggling amid a nationwide five-year downturn in ridership, the COVID-19 pandemic, the recession introduced on by the outbreak and a altering manner persons are commuting. It’s projecting that subsequent yr’s funds will see a steep shortfall of $166 million because of the mixture of those components.
Throughout a examine session Tuesday, members of RTD’s Board of Administrators examined methods the transit service can proceed to function below the circumstances and with the funds shortfall.
One of many proposals consists of taking funds out of the FasTracks Inside Financial savings Account (FISA), which is meant to finish the three remaining FasTracks tasks from the 2004 voter-approved measure – Northwest Rail, the Southwest Extension and the Central Extension. This pot of cash just isn’t devoted to only the Northwest Rail Line, in line with RTD communications supervisor Pauletta Tonilas. The way it will have an effect on these tasks is unclear.
One other manner RTD could make up the projected shortfall is dipping into the long run contribution to the FISA, administrative expense reductions and repair reductions. The overall course of the board is to make use of some reserves in 2021, use the long run contribution to the FISA, make further administrative reductions and hold service on the present ranges as a lot as attainable, Tonilas mentioned.
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