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New York MTA unveils preliminary 2010 budget, four-year financial plan


Yesterday, the New York Metropolitan Transportation Authority (MTA) released its 2010 preliminary budget and proposed four-year financial plan for 2010-2013.

As promised by Gov. David Paterson and the state legislature, the 2010 budget includes no service cuts or fare increases. The preliminary budget proposes total operating revenue of $6.4 billion and total operating expenses of $13.5 billion.

MTA projects cash balances of $29 million in 2009, $39 million in 2010 and $1 million in 2011, and manageable deficits in 2012 and 2013. The agency also expects to reduce expenses by $64 million in 2010 and eventually boost cost savings to $279 million by 2013.

The release of a preliminary budget kicks off a six-month period of public discussion before MTA approves a final budget in December.

Meanwhile, the financial plan proposes a continued fall off in real estate tax revenue and ridership because of the sluggish economy. The plan also proposes 7.5 percent fare increases in both 2011 and 2013.

Contact Progressive Railroading editorial staff.

More News from 7/30/2009