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Metropolitan Transportation Authority November 10, 2008 1 MTA Special Finance Committee Meeting DJC November 10, 2008.

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Presentation on theme: "Metropolitan Transportation Authority November 10, 2008 1 MTA Special Finance Committee Meeting DJC November 10, 2008."— Presentation transcript:

1 Metropolitan Transportation Authority November 10, MTA Special Finance Committee Meeting DJC November 10, 2008

2 Metropolitan Transportation Authority November 10, July Financial Plan Problem and Solutions ($ in millions)

3 Metropolitan Transportation Authority November 10, Current Economic Conditions

4 Metropolitan Transportation Authority November 10, Forecast of Economic Conditions U.S. Gross Domestic Product, in Real Dollars For 2009, the October Forecast is 3.2% lower than the January Forecast. For 2010, the October Forecast is 3.6% lower than the January Forecast. U.S. GDP in 2000 Dollars Source: Global Insight, Inc. For 2008, the October Forecast is 0.8% lower than the January Forecast.

5 Metropolitan Transportation Authority November 10, NYS Taxes: Corporate Surcharge Accounts for almost 50% of MMTOA ($ in millions)

6 Metropolitan Transportation Authority November 10, Real Estate Transaction Taxes ($ in millions) JulyPlan JulyPlan JulyPlan NovPlan NovPlan NovPlan

7 Metropolitan Transportation Authority November 10, What got better? What got worse? ($ in millions)

8 Metropolitan Transportation Authority November 10, November Solutions Additional 1% Fare/Toll Yield Increase - $29M (6/09 Start) ; $50M annualized Agency 1% Reductions - $44M (7/09) ; $87M annualized

9 Metropolitan Transportation Authority November 10, December Opportunities Ravitch Commission report released on December 5 th State Executive Budget released on December 16 th MTA Board Budget Adoption in December


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