Transcript Preliminary 2005 Budget and Financial Plan

MTA 2007
Preliminary Budget
July Financial Plan 2007 – 2010
DJC
July 26, 2006
Metropolitan Transportation Authority
July Financial Plan 2007-2010
1
February Financial Plan
Closing Cash Balance
Before Policy and Gap-Closing Actions
($ in millions)
$1,500
$1,000
$500
$1,062
$625
$0
-$32
-$500
-$1,099
-$1,501
-$1,000
-$1,500
-$2,000
2005
2006
Metropolitan Transportation Authority
2007
2008
2009
July Financial Plan 2007-2010
2
July Financial Plan
Baseline Before Policy and Gap-Closing Actions
($ in millions)
$1,500
$1,000
$500
$1,182
$1,121
$290
$0
-$1,008
-$500
-$1,781
-$1,000
-$2,146
-$1,500
-$2,000
-$2,500
2005
2006
Metropolitan Transportation Authority
2007
2008
2009
2010
July Financial Plan 2007-2010
3
July Financial Plan
Reasons for Baseline Net Improvements
($ in millions)
2006
2007
2008
2009
2010
February Plan Baseline
$625
($32)
($1,099)
($1,501)
($1,965)
Changes to the July Plan
Agency Baseline
Real Estate
Other Subsidies
Debt Service
General Reserve
Other
($137)
427
27
8
44
7
($370)
89
78
25
0
2
($452)
108
102
37
0
7
($533)
116
69
66
0
2
($530)
121
131
93
0
4
$120
$496
$496
$322
$290
$91
$0
($280)
$0
($181)
$1,121
$290
($1,781)
($2,146)
Change in Cash Balance from Previous Year
Total Changes
July Plan Baseline
Metropolitan Transportation Authority
($1,008)
July Financial Plan 2007-2010
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July Financial Plan
Agency Baseline Changes ($ in millions)
2006
Farebox/Toll Revenue:
New York City Transit
Metro-North Railroad
Bridges & Tunnels
Other Agencies
Expenses:
Pattern Labor Provision
Energy
Health & Welfare
Pensions
2005/2006 PEG Re-Forecast
New Needs / Investments:
Maintenance
Service
Paratransit Service Costs
Safety and Security
Other New Needs
Baseline Re-Estimates
Agency Baseline Changes:
Metropolitan Transportation Authority
2007
2008
2009
2010
($50)
(0)
(4)
1
($53)
($47)
2
(4)
1
($48)
($47)
4
(5)
1
($47)
($44)
9
(8)
1
($42)
($46)
11
(12)
1
($47)
($13)
(20)
16
26
(15)
($83)
(69)
(23)
(41)
(31)
($112)
(66)
(42)
(51)
(19)
($113)
(54)
(66)
(52)
(18)
($113)
(53)
(87)
(48)
(18)
(29)
(1)
1
(3)
(9)
(38)
($84)
(73)
(6)
(5)
(3)
(14)
27
($322)
(85)
(16)
(6)
(7)
(14)
12
($406)
(139)
(23)
(1)
(9)
(21)
5
($491)
(86)
(25)
0
(9)
(47)
3
($483)
($137)
($370)
($452)
($533)
($530)
July Financial Plan 2007-2010
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July Financial Plan
Year-to-Year Changes in
‘Uncontrollable’ and ‘Controllable’ Operating Expenses
20.0%
18.2%
'Uncontrollable' Expenses
15.0%
'Controllable' Expenses
11.4%
10.0%
7.3%
7.3%
5.0%
5.3%
7.2%
5.5%
3.8%
3.8%
2.3%
0.0%
2006
2007
2008
2009
2010
‘Uncontrollable’ Operating Expenses include Paratransit Service Contracts, Fuel for Buses & Trains, Traction &
Propulsion Power, Debt Service, Health & Welfare, Pensions, Insurance, and Claims.
‘Controllable’ Operating Expenses include Payroll, Overtime, Other-Fringe Benefits, Reimbursable Overhead,
Maintenance & Other Operating Contracts, Professional Service Contracts, and Materials & Supplies.
Metropolitan Transportation Authority
July Financial Plan 2007-2010
6
July Financial Plan
With Policy and Gap Closing Actions
($ in millions)
July Plan Baseline
Policy Actions:
Pension Liability Reduction / Pension Earnings
2004 Real Estate Tax Stabilization Account
2005 Capital Security Addition / Security Initiatives
2005 Holiday Fare Program
Anti-Grafitti Campaign
Service Marketing Campaign
Gap Closing Actions:
2007 Agency Program to Eliminate the Gap
Post-2007 Agency Program to Eliminate the Gap
Shared Services
2007 Increased Fare and Toll Yields
2009 Increased Fare and Toll Yields
Reorganization Legislation
Change in Cash Balance from Previous Year
July Plan Closing Cash Balance
2005
$1,182
($450)
0
(100)
(50)
0
0
2006
$1,121
2007
$290
2008
($1,008)
2009
($1,781)
2010
($2,146)
$21
200
(100)
50
0
0
$42
0
0
0
(6)
(5)
$42
0
0
0
(3)
0
$42
0
0
0
(5)
0
$42
0
0
0
(6)
0
$0
0
0
0
0
0
$19
0
0
0
0
0
$47
0
0
78
0
0
$60
13
5
237
0
5
$61
22
10
242
247
25
$61
22
15
243
255
25
0
(600)
(410)
(254)
0
0
($905)
($1,137)
($1,488)
$582
$711
$36
The following contributions are accounted for in the above Baseline Labor Expenses:
Contribution to GASB Fund
$0
$173
$97
$80
$88
Metropolitan Transportation Authority
$97
July Financial Plan 2007-2010
7
July Financial Plan
Closing Cash Balance After Policy and Gap-Closing Actions *
($ in millions)
$1,500
$1,000
$500
$582
$711
$36
$0
-$905
-$500
-$1,137
-$1,488
-$1,000
-$1,500
-$2,000
-$2,500
2005
2006
2007
2008
2009
2010
* Consistent with prior plans, includes additional 5% revenue increases - September 2007 and January 2009.
Metropolitan Transportation Authority
July Financial Plan 2007-2010
8
If the Board Does Not Continue Its Policy
of Small Bi-Annual Fare & Toll Increases,
Out-Year Deficits Will Increase
$1,000
$500
$582
$711
$36
$0
($42)
($905)
-$500
($1,137)
($1,488)
-$1,000
($1,141)
-$1,500
($1,626)
-$2,000
July Plan Closing Cash Balance, After Policy & Gap-Closing Actions
($1,986)
Additional Gap if 2007 & 2009 Fare & Toll Yields Are Not Increased
-$2,500
2005
2006
Metropolitan Transportation Authority
2007
2008
2009
2010
July Financial Plan 2007-2010
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