Stock image
Note: This article has been corrected from a previous version. The last name of Trinity Metro's chief financial officer was misspelled.
The Trinity Metro transportation agency expects to receive $50 to $60 million in federal emergency funding for transportation systems, whose revenue has been hurt by fallout from COVID-19, its chief financial officer said in an interview.
The Regional Transportation Council on Thursday approved Federal Transit Administration funding allocation from the $318 million slated to go to 11 North Texas entities, including Trinity Metro. The funding is based on allocation formulas already in place.
Trinity Metro is likely running at about 50% capacity, Fred Crosley, its chief financial officer, said in an interview. Sales tax — Trinity Metro’s primary source of revenue — and ridership are off significantly, Crowley said.
The agency has not laid off employees, Crosley said. “They’re our front-line people, and we’ve got to take care of them.”
The federal allocation functions as reimbursements, he said. “We incur the costs, we report it to the Feds, and ask for a draw against these funds. We should be able to start doing that fairly quickly.”
