N.Y. State Comptroller DiNapoli: MTA Budget Continues to Face Serious Risks
March 12, 2020
March 12, 2020
ALBANY, New York, March 12 -- New York State Comptroller Thomas P. DiNapoli issued the following news release:
The Metropolitan Transportation Authority is expected to devote one-fifth of total revenue to debt service by 2023 as it relies increasingly on borrowing to finance its capital needs, leaving a smaller share of revenue for other priorities and hindering budget flexibility during an economic setback, according to a report released by State Comptroller Thomas P. DiNapoli.
The Metropolitan Transportation Authority is expected to devote one-fifth of total revenue to debt service by 2023 as it relies increasingly on borrowing to finance its capital needs, leaving a smaller share of revenue for other priorities and hindering budget flexibility during an economic setback, according to a report released by State Comptroller Thomas P. DiNapoli.