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On behalf of the Utah Transit Authority, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the Authority, as it allows us to make critical investments in public infrastructure. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of the Utah Transit Authority. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.
Bob Biles, Chief Financial Officer
Similar to other transit agencies across the country, UTA has seen a significant decrease in ridership due to the COVID-19 pandemic. Preliminary numbers show that bus ridership is down 56 percent, FrontRunner ridership is down approximately 75 percent, TRAX ridership is down about 60 percent and paratransit ridership is down about 75 percent. With the lower than normal ridership, we are seeing a decrease in fares and expect a decrease in our sales tax revenue.