PORTLAND – Faced with an expected budget shortfall, Casco Bay Lines plans to cut its ferry schedules. Consideration of another round of rate increases also is expected in January.

Islanders argued against service reductions Friday, saying residents could be left without essential transportation.

The public hearing was held by the operations committee of the Casco Bay Island Transit District, which is making scheduling recommendations to the district’s board of directors. Islanders elect the board to oversee the quasi-public ferry service.

Two dozen islanders attended Friday’s meeting.

The committee recommended keeping several ferry runs, including a winter evening trip to Long, Great Diamond and Little Diamond islands and a Sunday morning run to those islands and Chebeague and Cliff islands.

But it recommended cutting other service, including an 11:30 p.m. summer weekday run from Portland to Peaks Island. If approved by the board, the last weekday boat would leave Portland at 10:30 p.m.

Directors are to receive the committee report when they meet Tuesday but are not expected to take action on schedule changes until next month after a review.

The service cuts recommended Friday would produce projected savings of $16,300. Committee members had sought about $40,000 in savings to help close a total gap of about $100,000 in the annual budget, said operations manager Nicholas Mavodones.

Summer rates have gone up in the last two years to balance the budget, although winter rates have been stable for more than 10 years.

The district also is trying to get the Legislature to increase the state’s annual subsidy. A bill that would have boosted funding was held over by lawmakers earlier this year.