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Article: At Deadline.(Late News)(Metropolitan Transportation Authority's 4-year financial plan)
- Article from:
- Crain's New York Business
- Article date:
- October 27, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MTA financial plan to show big deficits
the metropolitan transportation Authority will unveil on Tuesday a four-year financial plan that projects large deficits in upcoming years. The plan was promised earlier this year when the agency was hit with charges that it manipulated its financial statements to justify the 33% increase in fares adopted in March. Experts say the gaps suggest that fares may have to be raised again, especially since strapped state and city budgets make additional aid to the MTA unlikely. The authority has already released a preliminary budget for 2004 that does not include any fare increases. Executive Director Katherine Lapp has been ...