 June 28, 2008
IFA board chair Dennis Watson stated that burgeoning fuel costs and a shortfall in anticipated funding from the Federal Transit Administration dictated that the board cut operating costs. Advance bookings for the second round-trip on Fridays were not strong, said Watson. Customers with reservations on the cancelled IFA sailings will be offered confirmed space on regular daily sailings of their choice, with a 50% fare discount. Word was received Wednesday, June 25th, that a $1.5 million grant request to the Federal Transit Administration was being funded for $456,988. The reduction in anticipated operating funds from the FTA creates a $1 million deficit in the budget for the fiscal year commencing July 1, according to IFA general manager Bruce Jones. Alternate funding sources are being pursued he said. The IFA board will meet on July 1 to review options.
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