Thursday was a very busy day for the Transportation District Commission of Hampton Roads (TDCHR), the governing board of Hampton Roads Transit (HRT). Commissioners arrived early to discuss the well-publicized issues surrounding the issue in closed session. After completing the formal open monthly meeting, they returned to closed session to continue the discussion.
The independent accounting firm presented the audit for FY 2009, and it was received by the TDCHR.
The humor of the meeting was the move to establish the annual line of credit for calendar year 2010. It should have been a routine vote, but with Commissioners now hypersensitive about money issues, a discussion of over five minutes ensued. As expected, the new line was approved. Funds from it will be used to retire the previous line.
HRT ridership for December, 2009 was up 3.51% over the previous year. As had been the case for most of 2009, it was weekend ridership driving the numbers.
HRT is currently nearly $700K under it's operating budget for FY 2010, even after a recent $800K cut in state assistance. CFO Larry Davenport seemed fairly confident that the agency will finish the fiscal year under budget.