SacRT General Manager Receives Award for Defending Taxpayer Funds
The Sacramento Regional Transit District (SacRT) today announced that General Manager/CEO Henry Li received the first annual Good Governance Award from the Sacramento Taxpayers Association for Outstanding Leadership in Defending Taxpayer Funds.
“Since I began with SacRT three years ago, I have pushed to get the district back on track financially and provide a cleaner and safer environment for our riders,” said GM/CEO Henry Li. “Being recognized with this coveted award is reflective of our efforts to cut our debt and provide the community with better public transit choices.”
SacRT Cost Cutting Initiatives Implemented under Henry Li include:
- Reducing fare evasion from over 15% three years ago to below 4% today
- Lowering fares for the first time in the agency’s 47-year history
- Implementing business process optimization policies that led to more than $6.5 million annually in cost reductions through debt restructuring and renegotiating vendor contracts
- Cutting debt by $45 million and cost avoidance of $75 million in five years
- Building up reserves to nearly $20 million
- Reformed retirement benefits program and reduced 20% retirement costs by converting a defined benefit plan to a contribution plan for new hires dedicated to new services
SacRT is currently seeking public comment in the Fiscal Year 2020 Operating and Capital Budget.
The Good Governance Award was presented during the Sacramento Taxpayers Association annual member meeting on April 15.