The Greater Cleveland Regional Transit Authority said it would delay expected service cuts as it waits to see if it will receive federal transportation dollars from the state to help eliminate a 2009 deficit.
The transit agency faces a $20 million shortfall in 2009 largely stemming from higher gas prices. In July, the RTA released a plan to raise fares and cut service in Cuyahoga County, where it is the sole provider of public transit service. Officials said the authority expects to pay $8.4 million more for diesel fuel this year compared to last.
A sales tax funding the RTA has also brought in less than expected.
But before acting on the deficit plan, officials last week said they would see if Ohio would direct unused federal transportation funds to the agency before implementing the plan.
Gov. Ted Strickland has said he wants the state to use about $10.5 million in unused federal money to fund transit agencies. If the RTA gets a chunk of that money, it would cut service only modestly while adding a 25-cent fuel surcharge to each fare to weather the rising fuel costs, said officials.
Moody’s Investors Services rates the authority Aa3 and Fitch Ratings rates it A. Both have stable outlooks on the credit.
