Governor Cuomo's 2014-15 Executive Budget Proposal
Following is a quick summary of the transit appropriations contained in the 2014-15 Executive Budget released yesterday. Click here for a chart containing the STOA appropriations for upstate and downstate transit systems and a comparison to 2013-14 levels. NYPTA will provide a more complete review of the budget in the next few days.
- An overall increase in statewide STOA appropriations of $158 m. ($93 m. on a cash basis) from 2013-14 levels.
- An increase in STOA appropriations of 3.5% for the MTA, 2.0% for other downstate transit systems, and 1.35% for upstate systems from 2013-14 levels based on revenue projections. (Note that the cash disbursement to MTA will be held to 2.0% growth from 2013-14.)
- Use of $40 m. in “surplus” MTOA funds to pay debt service on a portion of the MTA state service contract bonds.
- The budget contains the $18.5 m. in capital appropriation for state matching funds for non-MTA capital projects and another $18.5 m. from the SDF for 100% state share projects for non-MTA systems, similar to SFY 2013-14.
- The budget includes $25 m. from the New York Works program available for transit, rail and aviation capital projects. A distribution of these funds between the three modes may be part of future budget negotiations.
The summary and chart was provided by NYPTA Policy Director Robert Zerrillo. You can contact Bob at email@example.com with any questions.