MTA 2006 Final Proposed Budget November Financial Plan 2006 – 2009 DJC November 16, 2005 Metropolitan TransportationAuthority
February vs. July PlansClosing Cash BalancesBefore Gap Closing and Other Actions($ in millions) 2009 2005 2006 2008 2007
Three Main Driversfor Baseline Net Improvementfrom February Plan to July Plan($ in millions)
July Financial PlanClosing Cash Balance After Gap Closing and Other Actions*($ in millions) * Includes additional 5% revenue increases in 2007 and 2009, consistent with prior plans.
2005 Monthly Real EstateTransaction Tax Receipts* • Includes State MRT and 90% of Urban Tax (excludes paratransit and CDOT portions). Additional 1/8% in MRT-1 rate is reflected in Mid-Year Update forecast and Actual beginning with July cash, but is not reflected in Adopted Budget forecast.
November Financial PlanReasons for Baseline Net Improvements($ in millions)
Recommendationsfor the Non-Recurring $700 million • Address Needs in MTA Capital Security Program ($100 million) • Provide Agency Service Enhancements ($50 million) • Provide Half Fare Initiative and Holiday Promotions ($50 million in 2005 / $50 million in 2006) • Reduce Unfunded Pension Liabilities ($450 million)
November Financial PlanClosing Cash Balance After Policy and Gap Closing Actions*($ in millions) * Includes additional 5% revenue increases in 2007 and 2009, consistent with prior plans.