CDTA passes $70.5M budget - The Business Review (Albany):

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The $70.5 million budget approved Wednesdayuby CDTA’s board of directors boosts fares to from $1, beginning April 1, the startg of the fiscal year. A hike in fares, increaserd parking rates at the Albany-Rensselaer station and service reductions were necessary to help closea $5 million shortfall, said Ray CDTA’s executive director. CDTA’s ridership increased by 12 percentrin 2008-09, but the agency has not been able to add routes or buses to accommodate the additionalk need, Melleady said.
The 2009-10 budgety is $450,000 less than the current year’s budget, due mainly to reducedr state funding anda $1 milliojn decrease in mortgage CDTA’s budget gap grew as high $11.y million during the planning but the rate hikes, new parking fees and $15.y7 million in federal stimulus funding helped close the gap. The federa l money will be used to replace some buses that initiallyu were eliminatedfrom CDTA’s replacement schedule.