A bus on LaSalle street with the Chicago Board of Trade in the background

Finance & budget

This page contains information about CTA's finances and budget.

On this page:

See also: For latest available financial reports/statements presented before the Chicago Transit Board's Finance, Audit & Budget Committee meetings, see Board Presentations

2025 budget recommendations

“Our workforce of 10,000+ has put forth an impressive effort to ensure CTA either reached its goals or is on the path to do so by the end of the year—including restoring our service levels to pre-pandemic levels…I am truly excited about what’s in store for 2025 as we build on this momentum and look to add even more service, improve accessibility, begin work to expand our system, and continue our investments in our personnel, infrastructure and fleets.”

– CTA President Dorval R. Carter Jr. 

Cover of the 2025 budget book, featuring employees and the new Damen Green Line station.

For fiscal year 2025, the CTA is proposing a $2.16 billion operating budget—an 8.1 percent increase (or $161.1 million) over the previous year’s budget. This budget keeps fares at current levels and supports CTA’s ongoing workforce initiatives for hiring, training and retaining key operations personnel to provide service levels that exceed 2019/pre-pandemic levels by as much as 6%.

The proposed budget also fuels new and ongoing investments to either expand or modernize existing infrastructure, while also evolving current systems to meet modern transit riding needs.

The CTA’s 2025-2029 Capital Improvement Program—which is separate from the operating budget—calls for $6.96 billion in projects over the next five years. This budget reflects CTA’s ongoing commitment towards the modernization and improvement of its physical infrastructure—tracks, rail stations, buses and trains, facilities and technologies.

Key capital projects to continue or begin in 2025 include:

  • Red and Purple Modernization (RPM) Phase One: Substantial completion of Phase One project work in 2025, which includes the reconstruction of the Lawrence, Argyle, Berwyn and Bryn Mawr Red Line stations and adjacent track structures.
  • Red Line Extension (RLE): The anticipated start of work to extend the CTA’s busiest rail line to the southern City limits is anticipated in 2025. This transformational project will provide greatly improved transit access and connectivity to the Far South Side of Chicago.
  • All Stations Accessibility Program (ASAP): In 2025, CTA plans to open six newly accessible stations: Lawrence, Berwyn, Bryn Mawr, and Argyle as part of the Red Purple Modernization (RPM) Phase One Project; Racine as part of the Forest Park Branch Rebuild; and the Austin on the Green Line. Further, approximately $37 million in funding has been secured for systemwide elevator replacement work, which is also expected to begin in 2025.
  • Rail and Bus Fleet Modernization: Increased production of the 7000-series–CTA’s newest generation of railcars. Plus, ongoing quarter-life overhauls of the agency’s 5000-series. Plus, the continuation of efforts to gradually update our facilities to support the operation of electric buses.

The President's 2025 Budget Recommendations book provides an overview of the proposed operating and capital budgets, plus key initiatives highlighted in an easy-to-read manner with accompanying charts and graphs. In addition, historical and reference data is presented in a detailed appendix section.

PDF2025 Budget Recommendations

PDF2025 Budget Recommendations (accessible text version)

Past budget recommendations

 

Financial statements

 

Pension Obligation Bond Sale Report

PDFPension Obligation Bond Sale Report (text version)

 

IRMA representation notice

PDFIndependent Registered Municipal Advisor ("IRMA") Representation Notice, eff. January 11, 2024

 

Official statements for CTA bonds

 

Miscellaneous reference

PDF CTA Debt Policy
The Debt Management Policy serves as a management tool to enable the Chicago Transit Authority to identify transactions that utilize debt in the most efficient manner and provide for full and timely repayment of all borrowings. It establishes guidelines for the appropriate amount and type of debt as a means of achieving the lowest possible cost of capital within prudent risk parameters and ensuring ongoing access to the capital markets. And it also addresses the method of bond sale and the selection of bond professionals.

PDF CTA Investment Policy

 

Presentations

PDF 2016 Chicago Investors Conference presentation (8/3/2016)

2019 Budget BookThe President's 2019 Budget Recommendations book provides an overview of the proposed 2019 operating and capital budget. Key initiatives are highlighted in an easy-to-read manner with accompanying charts and graphs.

In addition, historical and reference data is presented in a detailed appendix section.

PDF2019 Budget Recommendations
PDF2019 Budget Recommendations accessible text version

System status snapshot
‘L’ route status
Red Line
Normal Service
Green Line
Normal Service
Orange Line
Normal Service
Pink Line
Normal Service
Purple Line
Normal Service
Yellow Line
Normal Service
Bus routes w/alerts
Elevator alerts