In shortfall, Miami caps income for transit trust fund
Written by Gabriel Poblete on July 1, 2020
The Miami City Commission has placed a cap on its 5-year-old transportation trust fund to mitigate this fiscal year’s financial shortfall resulting from Covid-19.
The action, sponsored by Commissioner Manolo Reyes, puts a $10 million cap on the trust fund. Any cash contributions over that would go to the city’s general fund.
The legislation states that the city will end this fiscal year with a $19.7 million deficit.
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