Comptroller reviews MTA finances - FOX 35 News Orlando

Comptroller reviews MTA finances

Posted: Updated:
MYFOXNY.COM -

The office of New York Comptroller Thomas DiNapoli examined the finances of the MTA based on the authority's own books. It concluded the MTA finances were a bit better but "risks remain."

Some key findings include subway bus and railroad fares will go up in the next couple of years three times more than projected inflation.

The cost of employee overtime, health benefits, and pensions will be more than $2 billion by 2016 and the debt paid for MTA loans will be $3 billion a year by then. 

The only comment from the MTA was a statement issued by Chairman Joe Lhota, who in part noted it was thoughtful and thorough.

The review noted that the MTA has reduced costs by cutting its administrative staff.

  • TrafficMore>>

  • Idea from Virgin's Richard Branson

    Could airlines create a class just for children?

    Could airlines create a class just for children?

    Friday, July 25 2014 10:08 PM EDT2014-07-26 02:08:18 GMT
    Imagine a segregated airline flight: one section for children and one section for adults only. This is the vision of entrepreneur Richard Branson, the president of Virgin Atlantic.
    Imagine a segregated airline flight: one section for children and one section for adults only. This is the vision of entrepreneur Richard Branson, the president of Virgin Atlantic.
  • G subway line shutting down for 5 weeks

    G subway line shutting down for 5 weeks

    Friday, July 25 2014 9:37 PM EDT2014-07-26 01:37:26 GMT
    Beginning Friday night, a portion of the G subway line that connects Brooklyn and Queens will be shut down for five weeks.
    The MTA says there will be no service between the Nassau Avenue station in Greenpoint and Court Square in Long Island City until Sept. 2.
    Beginning Friday night, a portion of the G subway line that connects Brooklyn and Queens will be shut down for five weeks.
    The MTA says there will be no service between the Nassau Avenue station in Greenpoint and Court Square in Long Island City until Sept. 2.
  • Lyft to start New York City service after deal with officials

    Lyft to start New York City service

    Friday, July 25 2014 4:06 PM EDT2014-07-25 20:06:49 GMT
    The on-demand ride-sharing app Lyft says it is starting limited service in New York City after reaching agreement with state and city officials to resolve regulatory issues. New York's attorney general and Department of Financial Services say the company agreed to operate "in full compliance" with existing laws and regulations, and that it will start its city service Friday night with commercial drivers only.
    The on-demand ride-sharing app Lyft says it is starting limited service in New York City after reaching agreement with state and city officials to resolve regulatory issues. New York's attorney general and Department of Financial Services say the company agreed to operate "in full compliance" with existing laws and regulations, and that it will start its city service Friday night with commercial drivers only.

Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices