Mayor Michael Bloomberg has been making incremental reductions to New York City’s operating budget since 2008. In eight rounds of cuts, city agencies have been asked repeatedly to do more with less and to sacrifice personnel and programming in order to reduce projected out-year deficits.
New York City's extensive public infrastructure creates an important and expensive responsibility on the part of public officials to repair, maintain and enhance these assets. Generally, regular maintenance is funded in the City's operating budget, while repairs and improvements are funded in the capital budget.
Yesterday, Mayor Michael Bloomberg released a three-year progress report on PLANYC, an infrastructure and sustainability agenda for the next twenty years.
Given the fiscal pressures on the City, what does Mayor Michael Bloomberg plan to do to cut debt service? Debt service, the payment of interest and principle due on long-term borrowing, has been growing rapidly under his tenure. Since it is tied to the size of the capital plan, it can only be controlled by reducing the level of capital investment that is supported with borrowing.
This analyzes the MTA’s effectiveness at managing its five-year capital plans. It does so by examining the capital projects scheduled by the MTA for work in the three-year period from January 2005 to December 2007.
This report analyzes the MTA’s effectiveness at managing its five-year capital plans. It does so by examining the capital projects scheduled by the MTA for work in the three-year period from January 2005 to December 2007.
CBC released today a new report on the MTA’s effectiveness at managing its five-year capital plans. The report is especially timely, since a new five-year plan is being developed for the 2010-2014 period.
Testemony of CBC President Carol Kellermann to the New York State Senate Finance Committee regarding the MTA and the critical challenges that will face the MTA in the coming years. These challenges include balancing the MTA's operating budget, financing new capital investments, and planning and implementing capital projects.
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