RTA just released their proposed FY 2014-2016 Short Range Transit Plan. On the bright side, there are no cuts proposed, and (like the last few schedule changes) several minor schedule improvements are suggested. In particular, they plan on restoring service on "major holidays"-- specifically Memorial Day, Independence Day and Labor Day-- beginning July 2013 (which conveniently misses Memorial Day 2013).
Another suggestion is the long-awaited expansion of night-time service, proposed on routes 1, 15, 16, 18, 20, 31 and 32. I would personally prefer that we confine our late-night transit efforts to routes with higher population density and ridership, as otherwise we'll get less service span where we need it in Riverside, and more out in the exurbs where we need it less. That said, I would love to see late-night service (until last call?) on 1, 15 and 16, and if that means that we run some empty buses in Hemet, oh well.
That said, this has been proposed before. In the FY2010-2012 SRTP, funds were actually secured from the federal Job Access and Reverse Commute program to provide late-night service, across a skeletal network serving the whole service area. The funds were moved to prop up frequencies on routes in Lake Elsinore and Mead Valley. So I'm not jumping for joy until this is actually approved by the board in June-- and even then, not really until I see the timetable.