Date Issued
Submitting OIG
New York State Comptroller
Agencies Reviewed/Investigated
State of New York
Report Number
1-2022
Report Description
As 2020 began, the Metropolitan Transportation Authority (MTA) was already facing challenges in balancing its budget, along with missed capital commitment goals, capital funding risks and escalating debt service costs. The COVID-19 pandemic has exacerbated these troubling trends. The MTA was able to balance its 2020 and 2021 budgets with federal emergency relief and funds that had been earmarked for capital purposes. The authority now faces out-year gaps it intends to close with additional federal aid and borrowed funds, and it must advance a capital program that has barely started.
Report Type
Other
Agency Wide
Yes
Location
NY
United States
Professional Standard
Other
Questioned Costs
$0
Funds for Better Use
$0