One of the most important functions of the RTA is to review the annual budgets of the CTA, Metra, Pace and ADA Paratransit to ensure they are balanced and consistent with their long-range plans. For 2016, the regional transit budget was approximately $3.8 billion, made up of a $2.9 billion operating budget and an $871 million capital program. The RTA, through its Project Management Oversight program, oversees more than $3.7 billion in capital projects, ensuring they are on schedule and within budget.
So, we were thrilled to learn yesterday that we have again been awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) of the United States and Canada. This GFOA award is for our Comprehensive Annual Finance Report (CAFR) for the year ended December 31, 2015. According to GFOA “The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.” This is the 22nd year in a row that we’ve received this prestigious award. Kudos to the RTA’s Finance Department for this achievement.