Rhino report on Greensboro Transit Authority’s finances. We know GTA is not designed to make money, but it’s worse than that:

At the GTA Board’s Dec. 4 meeting, James presented the finding of a triennial review of the GTA’s operations. The review found deficiencies in 12 of 18 compliance areas, including legal, financial management and capacity, technical capacity, maintenance, procurement and safety. GTA staff said that nine of the 12 areas were minor paperwork issues, but that three were major: financial management, financial capacity and procurement.

“During the review, the reviewers noted that the reserves are projected to be fully depleted by 2016,” the minutes of the meeting state. “It was the opinion of the contracting reviewer that the city does not have a plan in place to address budget deficits once the reserves are expended by 2016, and this could result in service reductions or staff layoffs unless additional revenues are identified. It was also noted that the city does not have a formal process in place to monitor actual expenditures against budgeted activities.”

It’s all on PART — ridership has declined there, thus the “reduction in the amount the federal government pays the GTA for PART riders transported within the Greensboro city limits.” All I know is I don’t see as many near-empty PART buses all over town.