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

2. Metropolitan Transportation Authority November 10, 2008 2 July Financial Plan Problem and Solutions ($ in millions)

3. Metropolitan Transportation Authority November 10, 2008 3 Current Economic Conditions

4. Metropolitan Transportation Authority November 10, 2008 4 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, 2008 5 NYS Taxes: Corporate Surcharge Accounts for almost 50% of MMTOA ($ in millions)

6. Metropolitan Transportation Authority November 10, 2008 6 Real Estate Transaction Taxes ($ in millions) JulyPlan JulyPlan JulyPlan NovPlan NovPlan NovPlan 2008 2009 2010

7. Metropolitan Transportation Authority November 10, 2008 7 What got better? What got worse? ($ in millions)

8. Metropolitan Transportation Authority November 10, 2008 8 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, 2008 9 December Opportunities Ravitch Commission report released on December 5 th State Executive Budget released on December 16 th MTA Board Budget Adoption in December