MTA Faces Growing Fiscal Uncertainties
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After a brief period of financial stability secured by an infusion of State funds last year, the Metropolitan Transportation Authority (MTA) now faces growing fiscal uncertainties and risks that create projected budget gaps that start at $211 million this year and increase to $652 million in 2028, according to a new report from State Comptroller DiNapoli. Those gaps could grow much wider if various budget risks that the MTA has identified come to pass.
“A year ago, the MTA was looking forward to a period of solid fiscal health, but its financial condition has quickly turned from stable back to uncertain,” DiNapoli said. “Paid ridership is not coming back as fast as the MTA hoped. With farebox and tax revenues down, a pause on congestion pricing and other financial risks, significant operating budget gaps could again be on the horizon. This is a very real and troubling possibility.”
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Better Oversight Needed at Juvenile Justice Facilities
The New York State Office of Children and Family Services is not adequately overseeing juvenile justice facilities outside New York City to ensure they meet State regulations for the health and safety of the youth and facility staff that are there, according to an audit released by State Comptroller DiNapoli.
“The Office of Children and Family Services needs to step up its oversight to make sure at-risk youth are getting the appropriate supervision and care, and staff have the required training,” DiNapoli said.
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Monitoring NYC’s Ongoing Recovery
State Comptroller DiNapoli’s industry sector dashboards provide monthly updates tracking New York City’s economic recovery from the pandemic. The most recent updates show that, for the second month in a row, NYC restaurant employment remains above pre-pandemic levels, while the City’s construction and retail sectors are experiencing stalled employment growth. These industries are essential for the City’s economic stability, and boosting job numbers is critical.
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Thomas P. DiNapoli
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