Transit authority finds $7.9 million in surplus cash

CINCINNATI — The Southwest Ohio Regional Transit Authority says it has found $7.9 million in surplus cash, and it plans to use the money to replace its aging bus fleet.

SORTA Chair Kreg Keesee says the money was discovered during a yearlong review of the agency's balance sheets. He says the money was the result of projects that were either under budget or discontinued, as well as strong cash flows.

The Cincinnati Enquirer reports SORTA voted Tuesday to add $4.1 million of the surplus to its cash reserves and use the rest to buy about 30 new buses.

Even with the found money, the agency says it is bracing for projected budget shortfalls. SORTA says there could be fare increases and reduced service as soon as next year.

___

Information from: The Cincinnati Enquirer, http://www.enquirer.com

Must Read

Texas deputy fatally shot at his home was facing...

Aug 10, 2016

A Texas sheriff's deputy who was killed by a bullet from his own gun outside his home late last...

Judge dismisses suit accusing Twitter of...

Aug 10, 2016

A federal judge in San Francisco has dismissed a lawsuit accusing Twitter of supporting the Islamic...

2 vulnerable GOP incumbents break with Trump on...

Aug 10, 2016

Two Illinois Republicans considered among the nation's most vulnerable congressional incumbents are...

Girardi: 'No one individual is ever bigger than...

Aug 11, 2016

Benched from the starting lineup once again as his finale approaches, Alex Rodriguez pinch hit and...

Ecuador to set date for Assange to be questioned...

Aug 12, 2016

Ecuador said Thursday it's ready to set a date for Swedish prosecutors to question Julian Assange...

Sign up now!

About Us

In The Headline sought to bring professionalism back into journalism, bringing you only the most exclusive and the most impactive news from all over the globe.

Contact us: sales[at]intheheadline.com