1 / 19

Proposed FY 2006-2007 MTA OPERATING BUDGET An Overview February 7, 2006

Proposed FY 2006-2007 MTA OPERATING BUDGET An Overview February 7, 2006. 1. OVERVIEW. The FY 2006-2007 Proposed Budget is $667.8M. This represents an $81.8M (or 14%) above Prior Year’s Base Budget of $586M.

hector-skinner
Download Presentation

Proposed FY 2006-2007 MTA OPERATING BUDGET An Overview February 7, 2006

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ProposedFY 2006-2007 MTA OPERATING BUDGET An Overview February 7, 2006

  2. 1. OVERVIEW • The FY 2006-2007 Proposed Budget is $667.8M. This represents an $81.8M (or 14%) above Prior Year’s Base Budget of $586M. • The projected Budget shortfall for FY 2006-2007 is $4.1M. The MTA Staff is proposing to increase Expenditures by 81.8M and Revenues by $77.7M. 3. The FY 2006-2007 Proposed New Initiatives include the Proof of Payment, Preventive Maintenance, Safety Security & Training Initiatives, and Other Operating Costs. 4. For FY 2006-2007, the MTA Staff is not proposing any Fare, Fines, or Fee increases. However, we are considering to propose Garage Rate Increases.

  3. 2. FY 2006-2007 PROPOSED BUDGET BOOK LAYOUT • PREFACE • MTA OVERVIEW • BUDGET OVERVIEW • DIVISION LEVEL • APPENDIX

  4. 3. FY 2006-2007 Proposed Budget - $667.8M TOTAL BUDGET: $667,828,029 EXPENDITURES: $667,828,029 REVENUES: $663,728,242 GAP (Deficit): $ 4,099,787

  5. 4. Comparison of FY 2006-2007 Proposed Expenditure BudgettoFY 2005-2006 Approved Budget

  6. 5. Summary of FY 2006-2007 Proposed Expenditure Increases - $81.8M

  7. 6. FY 2006-2007 Proposed Budget $667.8M

  8. 7. Comparison of FY 2006-2007 Proposed Revenues toFY 2005-2006 Approved Budget

  9. 8. Summary of FY 2006-2007 Proposed Revenue Increases – $77.7M

  10. 9. FY 2006-2007 Proposed Budget $663.7M

  11. 10. FY 2006-2007 Proposed New Initiatives$33.2M • Proof of Payment Initiative (7.2M) • Preventive Maintenance Initiative (20M) • Safety, Security, and Training Initiative (3.6M) • Other Operating Initiatives (2.4M)

  12. 11. The Creation of a $25M MTA Reserve & Policy MTA Reserve & Policy ($25M): The MTA Staff is proposing to establish a $25M reserve and policy. • If the MTA Board adopts this policy in FY 2006-2007, then the projected shortfall will be approximately $29M.

  13. 12. FY 2006-2007 Proposed Scenarios to Close the Projected Shortfall • 1% reduction to the Base Budget - $5.8M • 3% reduction to the Base Budget - $17.5M • 5% reduction to the Base Budget - $29.3M

  14. 13. Reductions Taken to Achieve 1% Savings Across the Board ($5.8 Million) • Reduce Fringe Benefits by $4.0 Million • Reduce Miscellaneous Materials and Supplies by $1.8 Million

  15. 14. Reductions Taken to Achieve 3% Savings Across the Board ($17.6 Million) • Reduce Fringe Benefits by $4.0 Million • Reduce Miscellaneous Materials and Supplies by $1.6 Million • Reduce Workers’ Compensation Claims by $2.0 Million • Reduce Planned MTA Board of Director Reserve by $10.0 Million

  16. 15. Reductions Taken to Achieve 5% Savings Across the Board ($29.3 Million) • Reduce Fringe Benefits by $4.0 Million • Reduce Miscellaneous Materials and Supplies by $1.5 Million • Reduce Materials Management Materials and Supplies by $1.0 Million • Reduce Workers’ Compensation by $4.0 Million • Reduce Planned MTA Board of Directors Reserve by $15 Million • Increase Proof of Payment Planned Revenue by $2.8 Million • Appropriate Existing Unappropriated Fund Balance in the Amount of $1.0 Million

  17. 16. Subsequent Changes and Final Balancing Recommendation to Close Gap • Changes: • Adjustments of Fringe Benefits by the Controller’s Office • Adjustments to Current Work Orders by Performing Departments • Requests for Additional Work Order Services by the MTA and Other Departments • Recommended Service Critical Staffing Changes Including New, Upgraded and Reassigned Positions • Service Critical Capital Equipment • Recommended Operational Changes to Meet Service Standards

  18. 17. Change in Proposed Budget • New Proposed Budget Amount - - $674,749,188 • New Expenditure Request Totals $674,749,188 • Expenditure Changes for Personnel and Non-Personnel Increased by: • $6,921,159 • New Anticipated Revenues Total $674,749,188 • Revenues are Anticipated to Increase by: • $11,020,946

  19. 18. Remaining Schedule & Milestone Dates • February 28, 2006 – Fourth Budget Hearing and Second Opportunity to Adopt the FY 2006-2007 MTA Budget. • March 1, 2006 – Submittal of the MTA Board Approved Fiscal Year 2006-2007 Budget to the Mayor and Controller

More Related