It's been a year of taxpayer funded bailouts. Could the Las Vegas Monorail be next in line?

The privately funded system has hit a financial speed bump, with its debt rating being downgraded and no light at the end of the tunnel when it comes to turning a profit.

News 3's Steve Crupi reports that there's no talk of shutting down the system just yet because the monorail is generating enough revenue to cover its operations. And, the trains are moving smoothly every day along the four-mile route.

But what the monorail can't do right now is pay back the hundreds of millions of dollars it borrowed to build the system.

Technically, the trains are moving smoothly. But financially, the next stop may be government agencies with bailout money for the monorail.

From Sky 3, News 3's Tom Hawley talked about the situation.

"The root of the problem is simple: not enough riders. The original financing included a reserve fund; that reserve is about tapped out."

The business model that was created nine years ago when the monorail was approved has crumbled. And monorail officials are seeking new sources of funding. But among riders, enthusiasm for the monorail remains high.

"This has been fantastic."

"It's a great way of moving people."

However, some riders are turned off by the cost of $5.00 per ride.

"I think it's good... A little bit more expensive."

But casino workers who use the system get a huge discount and desperately want the monorail to survive.

Steve Crupi: As a taxpayer, you'd be willing to foot the bill? 

Phil Hastings: I'd be willing to foot the bill to a point. I would definitely want to see... what they're going to be doing with the money.

Right now, private investors are the ones on the hook for the cost of the monorail. Down the line, it may take public money to avoid bankruptcy and keep the trains moving.

And of course, that won't happen without a lot of debate.

The monorail company would not say exactly how much taxpayer money is needed, but a written statement highlighted the "benefits" provided by the system, such as reducing traffic congestion and cleaning up the air we breathe by running entirely on electricity.