Chicago Transit Authority

The committee discussed the market environment for the first quarter of 2026, noting overall volatility and negative performance across U.S. equity and international markets. The performance of supplemental plans and specific benchmarks for fixed income and large cap indexes were reviewed. Additionally, the committee addressed the upcoming expiration of the investment consultant contract with Marquette and initiated the process for drafting a new scope of service. The meeting concluded with the approval of invoices for legal and consulting services.

The meeting included a review of executive session minutes and the approval of an ordinance to appoint a Trustee and an Alternate to the Retirement Plan for Chicago Transit Employees. The Committee on Finance, Audit and Budget presented the Fiscal Year 2025 Independent Auditor's Report and sought approval for several ordinances, including an amended budget for 2026, an update to the 2026-2030 Capital Improvement Program, a natural gas contract, and a permanent easement agreement for the Red Line Extension Project. Furthermore, the board reviewed items regarding the Bryn Mawr Landmark District, the purchase of property insurance for 2026-2027, and nine purchase or sales award recommendations.

The committee reviewed the Independent Auditor's Report for Fiscal Year 2025 and several ordinances, including an amended budget for Calendar Year 2026, the 2026-2030 Capital Improvement Program, a natural gas contract, a permanent easement agreement for the Red Line Extension Project, and the Bryn Mawr Landmark District consent. Additionally, the committee evaluated property insurance coverage for 2026-2027 and reviewed multiple purchase and sales award recommendations across transit operations, infrastructure, communications, and administration departments, as well as a request for proposals for temporary staffing for the Law Department.

The committee meeting included a presentation of the Finance Report. Several ordinances were reviewed and approved, including amendments to a co-promotional agreement, the adoption of a new advertising policy, a trade agreement with the Department of Cultural Affairs and Special Events, and intergovernmental agreements with the Department of Transportation for infrastructure improvements, land management, and natural resources. Additionally, the committee authorized a bundled fare product with Divvy, deferred a performance evaluation ordinance to a future meeting, and recommended the approval of two contract awards for the board's omnibus.

The board meeting addressed several key operational and administrative items. Public comments were received regarding safety and security concerns on the transit system. The Acting President provided updates on security enhancement plans, funding status for infrastructure projects, and performance statistics for bus and rail service, including cleanliness and crime trends. Strategic initiatives such as landscaping partnerships, new station furniture, transit-related mobility promotions, and the World Autism Acceptance Month campaign were discussed. A resolution of appreciation for a departing employee was adopted. Additionally, the Board approved ordinances concerning bus route extensions, co-promotional agreements, advertising policies, and intergovernmental agreements for infrastructure and natural resources, while deferring certain items related to construction and specific agenda matters.