In this first podcast of a series on how to improve the efficiency of your transportation organization, Joe Freiburger, a Director in SC&H Group’s Risk Management practice, provides insights into how to “do more with less” with lagging budgets.
Today’s public transit officials face many financial and operational challenges. Federal transportation funding has deteriorated. State and local budgets have been cut. Even raw material prices have risen. Meanwhile, ridership on buses, trains and subways is at its highest level in nearly 60 years.
In response to these challenges, many agencies have increased fares, cut service, and delayed preventive maintenance and capital improvements. In fact, over half of agencies have cut service or raised fares in recent years, according to a recent APTA survey. Larger agencies have been most affected, as more than 70 percent have cut service.
However, for many agencies the cuts and increases simply aren’t enough. Despite their actions, the cumulative annual shortfall among transit agencies is still projected to be nearly $2 billion.
As agencies struggle to do more with less, many officials are recognizing the value of identifying and addressing operational inefficiencies, allowing them to deliver the same level of service—on-time and within budget.
These are some insights from Joe Freiburger’s recent SC&H Group Risk Management podcast. Be sure to listen to this podcast to learn more about how transit officials can “do more with less”.
To learn more about how to improve the performance and efficiency of your transit organization, contact SC&H Group’s Risk Management team here.
Also, stay tuned for the second part of this podcast series – Joe discusses how to use IT to improve transit operations and drive revenue.