NEW YORK – The New York Metropolitan Transportation Authority’s final proposed 2016 budget as presented Wednesday comes in at $15.1 billion, up from $14.5 billion this year. The Metro-North Railroad portion of the massive spending plan is $1.25 billion, up from $1.19 billion this year.
The financial plan includes fare and toll increases approximating the rate of inflation, and assumes four percent fare increases in 2017 and 2019.
The final budget will be adopted at the MTA Board’s December session.
Orange County’s member on the MTA Board, Susan Metzger, believes it is a sound budget.
“It keeps Metro-North whole in its operations,” Metzger said. “It allows us to maintain the service we presently have and has some potential for some increases in the future where the infrastructure does allow it.”
“The MTA is committed to bringing high-quality service to our customers at a reasonable cost, and our updated Financial Plan shows how we are putting that commitment into action,” said MTA Chairman and CEO Thomas Prendergast. “We are continuing to find new ways to save money, we are making smart investments to serve our growing ridership, and we are doing this while minimizing the impact on our customers’ wallets.”