Interactive open-discussion roundtable for transit CEOs and other executive leaders. The discussion will focus on current and emerging cost pressures facing transit agencies such as, including an update on the 5311 fiscal cliff and how the proposed MERIT operating formula promotes greater cost efficiency the rising costs of labor, insurance, vehicles and supplies, along with opportunities to leverage cooperative procurement strategies. The goal of this session is to better understand and document the breadth and magnitude of cost challenges facing transit agencies, to identify potential best practices for mitigating impacts, and to develop possible recommendations for future state actions and needed resources that can help transit agencies better face these challenges.