CLEVELAND – Today, the Board of Trustees of the Greater Cleveland Regional Transit Authority (RTA) approved the 2016 operating budget of $308 million. The budget takes effect Jan. 1, 2016.
“Importantly, RTA is going to finish this year in a strong financial position, as we have in the last six years. We will have an ending balance of $25 million, which is $12 million better than budget,” said RTA CEO and General Manager Joe Calabrese.
It is significant that several million dollars in grants received in previous years expire and will not be available in 2016 and beyond. That means that RTA is studying possible fare increases, but no final decision will be made on any changes to fares until after public hearings are held later in 2016. Budget background.
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