MTA Chief Drafts Budget to Avert Fare Increases
Metropolitan Transportation Authority chief Julian Burke said Thursday that he is working on a new spending plan that he hopes will prevent a fare increase.
The MTA has been considering a 10-cent increase in the $1.35 cash fare, effective as early as Nov. 1. But Burke told the agency’s board of directors that he is studying cost reductions that, if adopted, would provide the option of “postponing the now projected fare increase or possibly even foregoing any fare increase in fiscal 1999.”
“The fact that we are able to present a balanced budget for this upcoming fiscal year is certainly good news, but it does not mean that the agency’s financial problems are now fully resolved,” he said. Burke will present the budget to the board next week.
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