Annual Report 1990

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Fares have also remained relatively constant when adjusted for inflation. While the average fare has climbed steadily on an absolute basis, the inflation- cleansed fare has remained at approximately S.-tO since 1981.
I hope that the financial statements, notes and other information included in this report are useful and understandable. A companion document, the Compre- hensive Annual Financial Report (CAFR) for 1990. is available tor further reference. We are pleased to report that, for the sec
...ond consecutive year, the Chicago Transit Authority's CAFR for 1989, from which some of the information in this financial section is drawn, was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada.
The Certificate of Achievement is the highest form of recognition for excellence in state and local govern- ment financial reporting.
Respectfully, Daniel R. Letters Deputy Executive Director. Finance Deloitte & Touche & Two Prudential Plaza Telecopier: (312) 946-2600 180 North Stetson Avenue Chicago, Illinois 60601 Telephone (312)946-3000 Chicago Transit Board Chicago Transit Authority We have audited the accompanying balance sheet of the Chicago Transit Authority (an Illinois municipal corporation) as of December 29.


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