This site is protected by reCAPTCHA and the Google
Terms of Service apply.
The Metropolitan Transportation Authority (MTA) board yesterday approved the agency’s $17 billion 2020 budget and four-year financial plan.
The budget includes no budget-driven service cuts and advances the agency’s Transformation Plan to improve service and deliver reforms for taxpayers and commuters, MTA officials said in a press release.
Implementation of the Transformation Plan, the agency’s first reorganization in 50 years, is projected to result in $1.6 billion in savings over four years.
“The MTA Board’s approval advances a balanced budget that will provide the essential funding to deliver improved service and reliability for our customers.” said Bob Foran, MTA chief financial officer. “This budget responds to the fiscal challenges we face while avoiding budget-driven service cuts or fare hikes not already scheduled.”
The budget covers payment for 74,000 employees; service for 8,000 subway and 1,400 commuter-rail runs per weekday; maintenance and operations for 736 rail and subway stations; safety and security measures; bus service; and bridge and tunnel operation.
Budget and financial plan documents are available via this link.