New York State Comptroller Thomas P. DiNapoli released the following statement today on the Metropolitan Transportation Authority's (MTA) July Financial Plan:

“The MTA’s July 2026 Financial Plan shows that its finances have stabilized and that the road ahead depends on it successfully executing and communicating strategies to bring riders back and generate savings through greater efficiencies.

“Farebox revenue is slightly behind budget. While that’s not a significant fiscal concern yet, year-to-date fare revenue reflects the importance of increasing ridership. As my office has been saying for years, safety, frequency and reliability of service are paramount to reaching the MTA’s operating revenue projections. Although higher than expected overtime was addressed this year in the budget, this remains a concern in the future as the MTA expects overtime to decrease when it has not shown it has been able to do so in the past.

“Lower than anticipated operating revenue is expected to be offset by the MTA’s expansion of its savings program, including $75 million in additional cost savings this year, bringing the total saved to $576 million since 2023 with another $100 million expected by 2029. These savings, which the MTA attributes to efficiencies and not cuts, show a proper focus on managing costs the MTA can control while working to avoid negatively impacting the ridership experience.

“Tax revenue, including from downstate casino expansion, is expected to provide additional revenue for the MTA in this and the coming years. However, a return to fast growing costs that are not directly in the MTA’s control, such as healthcare and energy, will eat into those revenues leading to a $300 million budget gap next year and larger gaps thereafter. The MTA must continue to identify and execute on its savings programs and work with its labor partners to provide further stability to its finances in the coming years.”