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Metropolitan Transportation Authority November 2009 Financial Plan 2010-2013 1 MTA 2010 Final Proposed Budget November Financial Plan 2010 – 2013 November.

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Presentation on theme: "Metropolitan Transportation Authority November 2009 Financial Plan 2010-2013 1 MTA 2010 Final Proposed Budget November Financial Plan 2010 – 2013 November."— Presentation transcript:

1 Metropolitan Transportation Authority November 2009 Financial Plan MTA 2010 Final Proposed Budget November Financial Plan 2010 – 2013 November 18, 2009

2 Metropolitan Transportation Authority November 2009 Financial Plan July Financial Plan Closing Cash Balance ($ in millions)

3 Metropolitan Transportation Authority November 2009 Financial Plan July Plan Highlights Maintained in November Plan 2009 budget balanced after Mid-Year actions. No unfunded New Needs. Strict spending controls and continuation of PEG budget reductions. Bi-annual fare & toll yield increases of 7.5% in 2011 and No scheduled service reductions. Pay-As-You-Go contribution to the Capital Program.

4 Metropolitan Transportation Authority November 2009 Financial Plan Changes from the July Plan Receipts for Real Estate Transaction Taxes have declined further than anticipated. Farebox and Toll Revenues not as weak as projected.

5 Metropolitan Transportation Authority November 2009 Financial Plan Changes from the July Financial Plan ($ in millions)

6 Metropolitan Transportation Authority November 2009 Financial Plan Gap Closing Actions ($ in millions)

7 Metropolitan Transportation Authority November 2009 Financial Plan Year-to-Year Changes in Expenses Uncontrollable Operating Expenses include Paratransit Service Contracts, Fuel for Buses & Trains, Traction & Propulsion Power, OPEB Current Payment, Health & Welfare, Pensions, and Insurance. Controllable Operating Expenses include Payroll, Overtime, Claims, Other-Fringe Benefits, Reimbursable Overhead, Maintenance & Other Operating Contracts, Professional Service Contracts, and Materials & Supplies, Other Business Expenses, Other Expense Adjustments, and Gap Closing Actions. Total Operating Expenses includes the impact of the Gap Closing Actions but excludes Debt Service and the General Reserve.

8 Metropolitan Transportation Authority November 2009 Financial Plan November Financial Plan Closing Cash Balance after Gap Closing ($ in millions)

9 Metropolitan Transportation Authority November 2009 Financial Plan Financial Plan Risks Regional economy does not rebound as anticipated; additional State subsidy reductions. Labor arbitration ruling inconsistent with Financial Plan. Revenues from new State taxes and fees do not meet financial plan assumptions.


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