Preliminary 2005 Budget and Financial Plan

1
MTA 2007 Proposed Budget November Financial Plan
2007 2010
DJC
November 29, 2006
2
July Financial PlanClosing Cash Balance After
Policy and Gap-Closing Actions( in millions)
3
Changes to the Baseline

• Real Estate Tax Revenue Projections Re-estimated
• 1.0 billion more over Plan period
• 2006 176 million
• 2007 201 million
• 2008 214 million
• 2009 233 million
• 2010 249 million
• Eliminate Proposed 5 Fare and Toll Yield
  Increases for 2007 and 2009
• 1.3 billion less over Plan period
• Cancel Subway and Bus Off-Peak Service
  Adjustments
• 175 million less over Plan period

4
New Initiatives

• Enhanced Emergency Preparedness Training for
  Operating Personnel
• 25 million over 4 years based on Kroll
  Associates recommendation
• Capital Program Security Contingencies, Including
  MTA Police Radios
• Additional 50 million for a total of 150
  million
• Additional Contribution to GASB Fund
• Additional 80 million for a total of 577
  million
• NYCT Subway Station Painting
• 118 Stations (12 per year) funded through Capital
  Program
• 9 million annually from Operating Budget for
  remaining 350 stations over 10 years
• 52 Million from Stuyvesant Town / Peter Cooper
  Village sale will fund 200 of the remaining 350
  stations

5
November Financial PlanClosing Cash Balance
After Policy and Gap-Closing Actions( in
millions)
6
Need to Address Out-Year Deficits

• Increased Savings Expected from Shared Services
  and MTA Reorganization
• 55 million per year by end of Plan period
• 81 Million to Cover One-Time Costs Associated
  with Downsizing