CVTA finance panel recommends full authority approve GRTC FY25 expenditure certifications
December 11, 2025 | Central Virginia Transportation Authority, Boards and Commissions, Executive, Virginia
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The Central Virginia Transportation Authority Finance Committee voted Dec. 10 to recommend that the full authority approve the Greater Richmond Transit Company s FY25 certifications of expenditures.
Mister Parsons, presenting staff s packet materials, described the requested action as an annual certification that matches the reporting in the committee s agenda and asked the finance committee to forward the recommendation to the authority. After a motion and second, the committee approved the recommendation by voice vote; one member indicated an abstention during the roll call.
GRTC representatives provided the committee with a slide overview of services and finances. Cheryl (GRTC) said the agency operates BRT, local, express and microtransit services and that CBTA funds account for about 27% of GRTC s FY25 revenue mix. John DiZarello (CFAO, GRTC) gave detail on budget and reserves, noting a current operating budget of about $93 million and a restricted reserve of roughly $58 million across accounts. "We are looking at the best uses for interest income and reserves," Parsons said when summarizing staff figures that showed $14,300,000 in unallocated interest income as of the report.
The committee asked GRTC to explain the sustainability of its 0-fare policy. A GRTC representative said 0-fare appears to have generated roughly 4.5 million additional rides (from about 8 million to more than 12 million annually) and described outreach to potential partners and grant sources, increased advertising, employer partnerships and a Community Foundation grant-funded position as strategies to sustain the program. "We've seen a big increase in trips and we are aggressively pursuing other revenue so the reserve is not drawn down," the GRTC speaker said.
The committee s recommendation will be placed on the full authority agenda for final action.
Next steps: the finance committee s recommendation will be considered by the full Central Virginia Transportation Authority at its January meeting.
Mister Parsons, presenting staff s packet materials, described the requested action as an annual certification that matches the reporting in the committee s agenda and asked the finance committee to forward the recommendation to the authority. After a motion and second, the committee approved the recommendation by voice vote; one member indicated an abstention during the roll call.
GRTC representatives provided the committee with a slide overview of services and finances. Cheryl (GRTC) said the agency operates BRT, local, express and microtransit services and that CBTA funds account for about 27% of GRTC s FY25 revenue mix. John DiZarello (CFAO, GRTC) gave detail on budget and reserves, noting a current operating budget of about $93 million and a restricted reserve of roughly $58 million across accounts. "We are looking at the best uses for interest income and reserves," Parsons said when summarizing staff figures that showed $14,300,000 in unallocated interest income as of the report.
The committee asked GRTC to explain the sustainability of its 0-fare policy. A GRTC representative said 0-fare appears to have generated roughly 4.5 million additional rides (from about 8 million to more than 12 million annually) and described outreach to potential partners and grant sources, increased advertising, employer partnerships and a Community Foundation grant-funded position as strategies to sustain the program. "We've seen a big increase in trips and we are aggressively pursuing other revenue so the reserve is not drawn down," the GRTC speaker said.
The committee s recommendation will be placed on the full authority agenda for final action.
Next steps: the finance committee s recommendation will be considered by the full Central Virginia Transportation Authority at its January meeting.
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