The Regional Transportation Authority (a.k.a. RTA) was created in 1974. In 1983, the amended Act created three "service boards" known as the Chicago Transit Authority (CTA), Metra commuter rail and Pace suburban bus. The RTA's primary responsibilities became financial and budget oversight of CTA, Metra and Pace, and regional transit planning issues. Guiding the RTA's oversight responsibility is a Board of Directors who approves an annual budget and two-year financial plan. The Board consists of 15 members and a chairman appointed from the six-county region. The RTA Board is also required annually to review and approve a five-year capital plan, which is a blueprint of the capital activities to be funded by the RTA and executed by the CTA, Metra, and Pace.
