Chicago Transit Board Financial Report For The Month Ended May 31, 2007 July 11, 2007 FINANCIAL SUMMARY – CURRENT MONTH - Current operating surplus of $1.9 million with a 52.2% recovery ratio. FINANCIAL SUMMARY – YEAR - YTD operating deficit of $8.4 million with a 48.49% recovery ratio. OPERATING EXPENSES - Current expenses equaled $94.3 million — $2.8 million under budget. - YTD expenses equaled $475.4 million — $0.1 million under budget. FUEL – REVENUE EQUIPMENT - Current fuel expense equaled $6.2 million - $1.0 million over budget. - YTD fuel expense equaled $30.0 million - $4.2 million over budget. MATERIALS - Current expenses equaled $7.8 million — $1.3 million over budget. - YTD expenses equaled $35.0 million — $2.2 million over budget. LABOR - Current expenses equaled $69.8 million — $4.1 million under budget. - YTD expenses equaled $354.9 million — $1.3 million under budget. OVERTIME - Current expenses is $2.5 million - $0.9 million better than average. - January-April overtime expenses averaged $3.4 million per month. SYSTEM GENERATED REVENUE - System-Generated Revenues equaled $46.4 million in May 2007 due to lower fare and investment revenues. FAREBOX REVENUE - Current Farebox Revenue was $39.7 million — 2.1% under budget. - YTD Farebox Revenue was $184.9 million — 3.3% under budget. NON FAREBOX REVENUE - Current Other Revenue was $6.1 million — on par with budget. - YTD Other Revenue was $31.3 million — 6.3% under budget. IN CLOSING - YTD Capital obligations and expenditures were $154.0 million and $230.2 million, respectively. - Employee headcount remains under Board authorized level. - 2006 External Financial Audit by KPMG.