MTA 2007 Proposed Budget November Financial Plan 2007

MTA 2007 Proposed Budget November Financial Plan 2007 – 2010 DJC November 29, 2006 Metropolitan Transportation Authority November Financial Plan 2007 -2010 1

July Financial Plan Closing Cash Balance After Policy and Gap-Closing Actions ($ in millions) Metropolitan Transportation Authority November Financial Plan 2007 -2010 2

Changes to the Baseline 4 Real Estate Tax Revenue Projections Re-estimated ♦ $1. 0 billion more over Plan period: ♦ ♦ ♦ 2006 2007 2008 2009 2010 $176 million $201 million $214 million $233 million $249 million 4 Eliminate Proposed 5% Fare and Toll Yield Increases for 2007 and 2009 ♦ $1. 3 billion less over Plan period 4 Cancel Subway and Bus Off-Peak Service Adjustments ♦ $175 million less over Plan period Metropolitan Transportation Authority November Financial Plan 2007 -2010 3

New Initiatives 4 Enhanced Emergency Preparedness Training for Operating Personnel ♦ $25 million over 4 years based on Kroll Associates recommendation 4 Capital Program Security Contingencies, Including MTA Police Radios ♦ Additional $50 million for a total of $150 million 4 Additional Contribution to GASB Fund ♦ Additional $80 million for a total of $577 million 4 NYCT Subway Station Painting ♦ 118 Stations (12 per year) funded through Capital Program ♦ $9 million annually from Operating Budget for remaining 350 stations over 10 years ♦ $52 Million from Stuyvesant Town / Peter Cooper Village sale will fund 200 of the remaining 350 stations Metropolitan Transportation Authority November Financial Plan 2007 -2010 4

November Financial Plan Closing Cash Balance After Policy and Gap-Closing Actions ($ in millions) Metropolitan Transportation Authority November Financial Plan 2007 -2010 5

Need to Address Out-Year Deficits 4 Increased Savings Expected from Shared Services and MTA Reorganization ♦ $55 million per year by end of Plan period 4 $81 Million to Cover One-Time Costs Associated with Downsizing Metropolitan Transportation Authority November Financial Plan 2007 -2010 6