MTA unveils its 2011 financial plan


mta_logo-croppedThe MTA presented its 2011 Preliminary Budget and proposed four-year Financial Plan (2011-2014) at the July 28th Board meeting.  According to the MTA:
“The proposed plan reflects unprecedented internal cost cutting initiatives undertaken in response to a $900 million shortfall for 2010. As a result of its cost-cutting actions, the MTA was able to limit the fare revenue increase to 7.5% in 2011. The Plan faces many risks, however, including the need for labor participation to control wage and benefit costs.”

The July Plan is preliminary.  There will be fare increase hearings in the fall and the MTA Board will consider a final Plan in December.  For more details click here.