Jump to content


Photo

NY MTA 2017 Budget and Four-Year Finanacial Plan


  • Please log in to reply
4 replies to this topic

#1 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 27 July 2016 - 07:50 PM

NY MTA news release, 7/27:

 

MTA Releases Preliminary 2017 Budget and Four-Year Financial Plan
Funds Improvements to Service and Increases Administrative Savings Targets

 

 

The Metropolitan Transportation Authority (MTA) today released its preliminary 2017 budget and four-year financial plan, continuing to raise targets for administrative and managerial cost savings across all agencies and making a number of investments to improve service quality and customer experience. The agency now expects to identify additional annual recurring savings of $50 million per year starting in 2017, pushing total annual recurring savings to nearly $2 billion by 2020.

 

The MTA’s 2017 budget and four-year financial plan also proposes more than $1 billion over four years for initiatives to improve customer experience, increase service and service support, increase support for the MTA Capital Program, enhance safety and security, and invest in necessary maintenance and operations.

 

The four-year financial plan provides $195 million from 2017 to 2020 to support capital projects that will improve the customer experience. This year alone, the MTA will equip 200 buses and 200 subway cars with Wi-Fi, USB charging ports, and digital screens. Next year, an additional 400 subway cars will have these amenities. MTA New York City Transit will also:

  • Renovate 31 subway stations throughout NYC
  • Introduce Wi-Fi to all 278 underground stations by December 2016
  • Introduce a new “contactless” fare payment technology to subways and buses by 2018

The MTA will also invest $36 million in new service, including new Select Bus Service routes in Queens: the Q52/Q53 and Q70.  The Long Island Rail Road is restoring its weekend North Fork service to a year-round operation is adding summer trains to connect with Fire Island ferries, relieving congestion on Hamptons-bound trains. New York City Transit and the MTA Bus Company will also make up to $21 million in additional enhancements to the base level of service on subways and buses.

 

Investments in service support of $21 million will allow NYC Transit to enhance and expand its Lexington Avenue Line platform controller program. MTA Bridges and Tunnels will increase funding to meet increased demand on E-Z Pass New York Customer Service Center operations.

 

Consistent with the MTA’s long-standing practice of applying debt service savings towards capital funding, some $566 million of debt service savings from lower interest rates (both realized and projected) and from the Hudson Yards lease securitization have been found.

 

The MTA is proposing to invest an additional $46 million in safety and security initiatives over from 2017 to 2020 to augment existing measures designed to ensure the safety of pedestrians, customers and employees. These investments include upgrading railroad crossings, adding onboard vehicle cameras, “Help Point” intercoms, and security operations throughout the MTA.

 

The MTA continues to take steps to improve the reliability, efficiency and performance of its infrastructure, facilities and fleet, investing $145 million over the plan period. While these investments may not be as obvious to our customers as some of our other projects, they are essential to the operation of our system. Investments are being made that will improve the performance of certain buses, subway cars and commuter railroad cars. Additional investments are being made to structures and track, including expediting the LIRR’s West Side Yard expansion.

 

As a result of the cost savings found, the MTA expects to be able to limit the previously announced 2017 and 2019 fare and toll increases to no more than 4%. The increase is projected to provide the MTA with an additional $308 million in annual operating revenue, allowing for projected balanced budgets through 2019; however, a $371 million deficit is projected for 2020.

 

The MTA’s preliminary budget will be available for public review and comment until it is adopted by the MTA Board; the final proposed budget will be presented to the MTA Board in November and adopted by the MTA Board in December. In the fall, the MTA will present specific proposals for the 2017 all-agency fare and toll increases and will hold a series of public hearings to seek public reactions to the proposals.

 



#2 KevinKorell

KevinKorell

    Board Leader

  • Sr. Admin
  • PipPip
  • 82315 posts
  • Gender:Male
  • Location:Lakewood, NJ
  • Interests:Making America TRAIN again!

Posted 30 July 2016 - 01:07 AM

Daily News, New York, NY, 7/27/16:

MTA eyeing 2017 bus, subway fare hike to $3; hopes to raise more than $300M


The $3 subway ride is looming and could be a reality next year.

The MTA on Wednesday issued a financial plan that includes an all but definite fare hike in 2017, with the aim of raising more than $300 million annually for a transit system struggling to provide reliable service.


More


Kevin Korell


OTOL Board Leader


Lakewood, NJ


#3 KevinKorell

KevinKorell

    Board Leader

  • Sr. Admin
  • PipPip
  • 82315 posts
  • Gender:Male
  • Location:Lakewood, NJ
  • Interests:Making America TRAIN again!

Posted 30 July 2016 - 01:23 AM

Second Avenue Sagas, 7/29/16:

MTA continues to anticipate a March 2017 fare hike

New York City’s transit fares are on the rise again next year. In what was nothing more than a formality, the MTA this week confirmed that the agency’s policy of small biennial fare hikes will continue at least through 2019 and that the fares will rise in March of 2017 by an amount designed to increase fare revenue by around 4 percent.

Continue


Kevin Korell


OTOL Board Leader


Lakewood, NJ


#4 CNJRoss

CNJRoss

    Administrator

  • Admin
  • PipPip
  • 43390 posts
  • Gender:Male
  • Location:Fairfax, VA

Posted 27 January 2017 - 02:29 PM

NY MTA news release, 1/25:

 
MTA Board Keeps Base Fare Flat; Approves Lowest Fare, Toll Increases since 2009
 
Base Fare for Subways, Buses, Paratransit Riders Remains at $2.75
 

 

The Metropolitan Transportation Authority (MTA) Board today voted to keep the base fare flat for another two years in approving the lowest fare and toll increase since 2009, when the MTA committed to a biennial schedule for regular increases.

 

The plan approved today increased fares and tolls over the next two years by 4 percent – or less than 2 percent annually and less than the rate of inflation. The MTA was able to hold the necessary increases below inflation as a result of the agency’s continued discipline in keeping costs down. The new fares, which take effect March 19, will allow the MTA to continue to provide safe and reliable service.

 

“The MTA is focused on keeping our fares affordable for low-income riders and frequent riders, and on how we can keep necessary scheduled increases as small and as predictable as possible,” MTA Chairman and CEO Thomas F. Prendergast said. “Keeping fares and tolls down was possible because of the continued operational efficiencies and ways we have reduced costs while adding service and capacity along our busiest corridors, most recently with the opening of the new Second Avenue subway.”

 

The MTA Board approved increases that keep the base fare for subways and buses at $2.75 and to keep a pay-per-ride bonus, making the effective fare with the bonus $2.62.

 

The 7-Day Unlimited Ride MetroCard, which is heavily used by lower-income and frequent riders, will increase by only a dollar to $32; the 30-day Unlimited Ride MetroCard will increase from $116.50 to $121. Both of these options were the same under the two proposals presented to the MTA Board.

 

The Single Ride Ticket remains at $3. The cash fare for Express Buses remains at $6.50, making the effective fare with the bonus $6.19.

 

The following table summarizes these changes:

 

Continue here for summary table.



#5 KevinKorell

KevinKorell

    Board Leader

  • Sr. Admin
  • PipPip
  • 82315 posts
  • Gender:Male
  • Location:Lakewood, NJ
  • Interests:Making America TRAIN again!

Posted 30 January 2017 - 09:07 AM

Second Avenue Sagas take on the above, 1/29/17:


 

MTA Board approves fare hike but avoids a $3 swipe, for now

 

At the last board meeting of his almost four-year tenure atop the MTA, outgoing Chairman and CEO Tom Prendergast had the unfortunate opportunity to oversee yet another vote to approve a fare hike.

Continue



Kevin Korell


OTOL Board Leader


Lakewood, NJ





0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users