PROVIDENCE, R.I. (AP) — The Rhode Island Public Transit Agency says the transit authority has filled the estimated $2 million funding gap officials projected this past winter.
The Providence Journal reports RIPTA’s current budget estimates for the year ending June 30 would leave the agency with a small $80,000 surplus, leaving little room for equipment investments or infrastructure repairs.
The expiration of the Fleet Revolving Loan Fund next year means RIPTA will be without funding for much-needed bus purchases in 2018.
RIPTA officials say their revenue stream will drop even further if the recent elimination of free bus passes for low-income disabled and senior passengers is nixed by lawmakers. Bills endorsing the return of the free passes for eligible riders will be discussed by the Rhode Island General Assembly on Tuesday and Thursday.
