New report shows RTA exceeding farebox recovery by 11 percentile points
RIVERSIDE, CA — October 13, 2010 — Just three months after the Riverside Transit Agency (RTA) was recognized for its high marks on a federal audit, the Agency announced today that it has another reason to celebrate, this time for a glowing state audit that inspected virtually every area of operation.
Plus, despite a volatile economy, the Agency continues to not only meet but exceed the state’s minimum farebox recovery ratio, a new report concludes.
The Transportation Development Act (TDA) Triennial Performance Audit, commissioned by the Riverside County Transportation Commission (RCTC), found the Agency in compliance with all areas of inspection, including administration; maintenance; personnel management and training; marketing and public information; service planning; and general management and organization. The audit covered fiscal years 2007 through 2009.
RTA Chairman of the Board Jeff Comerchero, who guided the Agency’s Budget and Finance Committee from 2000 to 2009, said the audit reflects RTA’s successful efforts to use taxpayer dollars wisely.
“Despite the financial challenges, RTA has remained a leader in the transportation industry and provided a reliable, world-class service for its customers,” Comerchero said.
The audit is required every three years for agencies such as RTA that apply for and receive state funding. Specifically, those state funds are tied to TDA revenues such as the Local Transportation Fund (LTF) and State Transit Assistance (STA). Last year, LTF funding comprised roughly half of RTA’s $53 million operating budget.
Over the course of several months, auditors interviewed RTA management, collected and reviewed documents and inspected the Agency’s facilities. No deficiencies were found in any of the reviewed areas.
More good news came this week when RTA staff announced a 28 percent farebox recovery for Fiscal Year 2011 to date, meaning that the Agency has not only met but is exceeding the state’s required minimum farebox recovery target by 11 percentile points. Meeting farebox recovery, like the audit, is required for RTA to receive state funding. The ratio measures the contribution passenger fares make toward the operating cost of service.
“RTA continues to play a significant role in the way Riverside County residents get around,” Comerchero said. “It’s never been more important to preserve the integrity of our transit system and maintain acceptable service levels for our valued customers.”
The Riverside Transit Agency provides public transportation for Western Riverside County, operating 37 fixed routes, 8 CommuterLink express routes and Dial-A-Ride service. RTA’s service area spans 2,500 square miles, the second largest in the nation. For bus route and schedule information contact RTA at (951) 565-5002 or go to www.RiversideTransit.com.