Financial Outlook for the New York City Metropolitan Transportation Authority (MTA)
This is a print on demand edition of a hard to find publication. The MTA has long suffered from a structural imbalance between recurring revenues and expenses. During the last economic expansion, rather than bringing spending in line with recurring resources, the MTA used tax windfalls from the expansion to mask the structural imbalance between recurring revenue and expenses, and to put off needed reforms. The current economic downturn has compounded the MTA┐s financial problems. The MTA┐s July 2010 financial plan shows an operating budget deficit of more than $1 billion for 2011. The budget deficit is expected to more than double by 2014. The MTA has outlined a gap-closing program that begins the process of changing how the MTA conducts business. Charts and tables.
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$100 million annually $20 million 2010—although ridership 2010—and then grow 7.5 percent Additional Overtime Savings beginning in 2010 Bridge and Tunnel capital program commuter railroad cost employees between December Fare & Toll fare and toll Figure financial plan period fund to help help fund implemented Island Bus Subsidy Island Rail Road July Plan assumes Labor Savings LIRR Long Island Bus Long Island Rail Management Actions mass transit Metro-North Railroad MetroCard Fee Metropolitan Transportation Authority million annually beginning million annually thereafter million in 2010 MTA Bus MTA expects MTA forecast MTA intends MTA plans MTA’s Nassau County off-peak train operating budget OSC analysis Paratransit Savings payroll mobility tax payroll tax percent annually percent in 2010—although percent in 2011 Petroleum Business Tax planned for 2010 Programmatic Efficiencies raise fare Real Estate Taxes ridership declined ridership will decline service reductions Strategic Initiatives taxes and fees toll increases toll revenue wage increases York City Transit