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November 29, 2006 PowerPoint Presentation
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November 29, 2006

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November 29, 2006

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  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