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After recently implementing service changes to help cut costs, the Regional Transportation District of Denver (RTD) soon will be holding public hearings on proposed fare hikes.

The fare increases, which would take effect in January 2011, are intended to help offset an estimated $18 million deficit in the agency’s 2011 budget, RTD officials said in a prepared statement.

Sales tax revenue continues to remain below the level needed to support RTD’s current service levels, agency officials said. In addition to fare increases, the agency is considering further service reductions; a third consecutive year with no salary increases; the continuation of hiring limitations; using RTD operating reserve funds; continuation of fuel cost hedging; voluntary staff furloughs; exploring new revenue-generating opportunities; and establishing the RTD Board Financial Stability Committee to work with regional stakeholders to find ways to expand resources.