MTA could be declared a “state of emergency” on Tuesday 

Everyone knows that the Municipal Transportation Agency is mired in a financial mess, but on Tuesday, that statement could become official.

On Tuesday, the MTA’s Board of Directors will vote on whether to declare a state of fiscal emergency for the next two fiscal years, following the economic recession which has lost the agency $230 million over the past two years in state and local funding.

Typically, public agencies are allowed to suspend some of their normal operating functions under a state of emergency, although there wasn’t enough information available to gauge how the MTA would act under this declaration.

On Friday, the MTA approved a series of cost-saving and revenue-generating measures that would help offset a $12.1 million mid-year deficit, but the agency must now focus on a projected shortfall of nearly $100 million over the next two fiscal years.

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Will Reisman

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