Finance & Budget

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

On this page:

• Latest Budget Recommendations
• Past Budget Recommendations and Books/Documents
• Pension Obligation Bond Sale Report
• Financial Statements
• Actuarial Reports
• Independent Registered Municipal Advisor
• Official Statements for CTA Bonds
• Miscellaneous Reference
• Presentations

See also: Board Presentations

Latest Budget Recommendations

2018 Budget Recommendations

The President's 2018 Budget Recommendations book provides an overview of the proposed 2018 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.

2018 Budget Recommendations
2018 Budget Recommendations accessible text version

• Notice of Public Hearing (11/22/2017)
• Press Release: CTA Introduces Balanced Operating, Capital Budgets Following Major State Funding Cut (11/22/2017)
• Letter from President Carter
• Questions & Answers
• Press release: Chicago Transit Board Approves 2018 CTA Operating, Capital Budgets (12/13/2017)

Past Budget Recommendations

2017 Budget Recommendations

The President's 2017 Budget Recommendations book provides an overview of the proposed 2017 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.

2017 Budget Recommendations
2017 Budget Recommendations text-only version

• Notice of Public Hearing (10/24/2016)
• Chicago Transit Board Approves 2017 CTA Operating, Capital Budgets (11/16/2016)

2016 Budget Recommendations

The President's 2016 Budget Recommendations book provides an overview of the proposed 2016 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.

2016 Budget Recommendations
Text-only version

• Notice of Public Hearing (10/26/2015)

2015 Budget Recommendations

The President's 2015 Budget Recommendations book provides an overview of the proposed 2015 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.

 2015 Budget Recommendations
 Text-only version

• Notice of Public Hearing (10/26/2014)

2014 Budget Recommendations

The President's 2014 Budget Recommendations book provides an overview of the proposed 2014 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.

 2014 Budget Recommendations
 Text-only version

• Notice of Public Hearing (10/23/2013)
• News: CTA President Releases 2014 Budget Recommendations (10/18/2013)
• News: 2014 Balanced Budget Approved (11/13/2013)

2013 Budget Recommendations

The President's 2013 Budget Recommendations book provides an overview of the proposed 2013 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.

 2013 Budget Recommendations (.pdf)

     Text-only version (.pdf)

• Press Release: Chicago Transit Board Approves 2013 Budget (12/16/12)
• Notice of Public Hearing (11/26/12)
• Fare Changes FAQ
• Pass Price Changes (eff. 1/14/13)

President Claypool's presentation to the City Club of Chicago

• Full video of President Claypool delivering presentation at City Club
• 2012 City Club Presentation (.pdf)

2012 Budget Recommendations

The President's 2012 Budget Recommendations book provides an overview of the proposed 2012 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.

 2012 Budget Recommendations(.pdf) (plain text version)

More info:

• Press Release: CTA President Releases 2012 Budget Recommendations (10/19/11)
• Press Release: CTA Chicago Transit Board Approves 2012 CTA Budget (11/15/11)
• Notice of Public Hearing

2011 Budget Recommendations

The President's 2011 Budget Recommendations book provides an overview of the proposed 2011 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.

2011 Budget Recommendations (plain text version)

From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book. The most recently approved CIP can be found here.

Capital Improvement Program (CIP) 2011

2010 Budget Recommendations

The President's 2010 Budget Recommendations book provides an overview of the proposed 2010 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.

2010 Budget Recommendations

From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book.

 Capital Improvement Program (CIP) 2010

BUDGET ADDENDUM 
Please note - Reduced fares were not increased.
Reduced fares remained at $0.85 with a transit card and $1.00 with cash.

2009 Budget Recommendations

The President's 2009 Budget Recommendations book provides an overview of the proposed 2009 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.

2009 Budget Recommendations

From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book.

 Capital Improvement Program (CIP) 2009

2008 Budget Recommendations

The President's 2008 Budget Recommendations book provides an overview of the proposed 2008 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.

2008 Budget Recommendations

From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book.

 Capital Improvement Program (CIP) 2008

2007 Budget Recommendations

The President's 2007 Budget Recommendations book provides an overview of the proposed 2007 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.

2007 Budget Recommendations

2006 Budget Recommendations

The President's 2006 Budget Recommendations book provides an overview of the 2006 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.

From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book.

2006 Budget Recommendations

 From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book.

Capital Improvement Program (CIP) 2006

2005 Budget Book

The book provides an overview of two proposed 2005 operating and capital budgets. 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. This book is the ideal starting point for those interested in the 2005 CTA budget.

2005 Budget Book

 From time to time during the fiscal year, the CTA Board amends the Capital Improvement Program (CIP) which is incorporated as a part of the Budget Book.

Capital Improvement Program (CIP) 2005

2004 and Earlier...

2004
2004 Budget - Summary
2004 Budget - Detail
President's Report on CTA's Fares and Proposal for the FY2004 Budget

2003
2003 Budget - Summary

2002
2002 Budget - Summary
2002 Budget - Detail

2001
2001 Budget - Summary
2001 Budget - Detail

2000
2000 Budget Summary
2000 Budget Detail

1999
1999 Operating Budget Summary
1999 Budget Detail

Pension Obligation Bond Sale Report

 Pension Obligation Bond Sale Report (text version)

Financial Statements

• CTA Financial Statements December 31, 2015 and 2014
• CTA Financial Statements December 31, 2014 and 2013
• CTA Financial Statements December 31, 2013 and 2012
• CTA Financial Statements December 31, 2012 and 2011
• CTA Financial Statements December 31, 2011 and 2010
• CTA Financial Statements December 31, 2010 and 2009
•  CTA Financial Statements December 31, 2009 and 2008
•  CTA Financial Statements December 31, 2008 and 2007
• CTA Financial Statements December 31, 2007 and 2006
• CTA Financial Statements December 31, 2006 and 2005
• CTA Financial Statements December 31, 2005 and 2004
• CTA Financial Statements December 31, 2004 and 2003
• CTA Financial Statements December 31, 2003 and 2002
• CTA Financial Statements December 31, 2002 and 2001
• CTA Financial Statements December 31, 2001 and 2000
• CTA Financial Statements December 31, 2000 and 1999
• CTA Financial Statements December 31, 1999 and 1998
• CTA Financial Statements December 31, 1998 and 1997

Independent Registered Municipal Advisor

 Independent Registered Municipal Advisor ("IRMA") Representation Notice, eff. May 8, 2017

Official Statements for CTA Bonds

• Sales Tax Bonds Series 2008A&B
• Sales Tax Bonds Series 2010A&B
• Sales Tax Bonds Series 2011
• Sales Tax Bonds Series 2014
• Sales Tax Bonds Series 2017 (Sub)
• Public Building Commission Bonds Series 2006
• FTA Capital Grant Receipts-GARVEE Bonds FTA 5307&5309(5337) Series 2008A & 2008
• FTA Capital Grant Receipts-GARVEE Bonds FTA 5307 GARVEE Series 2011
• FTA Capital Grant Receipts-GARVEE Bonds FTA 5307&5337(5309) GARVEE Series 2015
• FTA Capital Grant Receipts-GARVEE Bonds FTA 5309(5337) GARVEE Series 2008A
• FTA Capital Grant Receipts-GARVEE Bonds FTA 5307&5337(5309) GARVEE Series 2017

Miscellaneous Reference

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.

Presentations

2016 Chicago Investors Conference Presentation (8/3/2016)