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MTA 2013-November-Plan-Presentation

MTA 2013-November-Plan-Presentation

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Published by Celeste Katz
MTA 2013-November-Plan-Presentation
MTA 2013-November-Plan-Presentation

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Published by: Celeste Katz on Nov 13, 2013
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04/06/2014

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Metropolitan
 
Transportation
 
Authority
November
 
Financial
 
Plan
 
2014
 
 – 2017
Presentation
 
to
 
the
 
BoardNovember
 
13,
 
2013
 
The
 
July
 
Plan
 
has
 
four
 
key,
 
inter
related
 
elements
 Three
 
years
 
of 
 
“net
 
zero”
 
labor
 
settlements
 
for
 
all
 
MTA
 
unions
 
(“going
 
out”
 
value
 
of 
 
$303
 
million/year)
 Annually
 
recurring
 
cost
 
savings
 
($800
 
million
 
in
 
2013,
 
increasing
 
to
 
$1.3
 
billion
 
in
 
2017)
 Projected
 
fare/toll
 
revenue
 
increases
 
yielding
 
7.5%
 
in
 
2015
 
and
 
2017
 
(“going
 
out”
 
value
 
of 
 
each
 
approximately
 
$500
 
million/year)
 $330
 
million
 
of 
 
annual
 
PAYGO
 
capital
 
beginning
 
in
 
2015 as
 
a
 
“down
 
payment”
 
on
 
2015
2019
 
Capital
 
Program
 In
 
addition
 
to
 
these
 
four
 
elements,
 
Plan
 
also
 
assumes
 
no
 
further
 
legislative
 
erosion
 
of 
 
PMT
 
revenue
 
stream
 Failure
 
to
 
achieve
 
 full 
 
value
 
of 
 
the
 
 first 
 
two
 
elements,
 
or 
 
any 
 
significant 
 
decrease
 
in
 
the
 
PMT or 
 
other 
 
taxes/subsidies,
 
will 
 
require
 
an
 
increase
 
in
 
 fares
 
and 
 
tolls
 
and/or 
 
a
 
decrease
 
in
 
 funds
 
committed 
 
to
 
PAYGO
1
 
6 (49) (91) (100)274286295 3034245169899481,0831,2401,308
($3,000)($2,500)($2,000)($1,500)($1,000)($500)$0$500
2014 2015 2016 2017
Surplus/(Deficit) Net
 
Zero
 
Savings
 
7.5%
 
Fare/Toll
 
Savings
 
InitiativesJuly
 
Plan
($
 
millions)
The
 
first
 
three
 
elements
 
are
 
the
 
main
 
factors
 
in
 
reducing
 
the
 
July
 
Plan
 
deficits
 
to
 
a
 
cumulative
 
$240
 
million
2

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