N.Y. Comp. Codes R. & Regs. tit. 2 § 202.4

Current through Register Vol. 46, No. 51, December 18, 2024

Section 202.4 - Supporting documentation

The MTA shall prepare working papers that detail the assumptions and methods of estimation used to calculate all operating and capital budget projections, consistent with prudent budgetary practices. The working papers shall be completed contemporaneously with the release of its budgets and plans and shall include a statement supporting the reasonableness of each estimate, and the underlying information on which the estimate is based, such as actual results from prior years, inflationary trends and economic data, assumptions regarding the cost of future collective bargaining agreements, utilization, demographic and other pertinent data. The MTA also shall prepare and make available for public inspection with the release of its budgets and plans:

(a) a reconciliation that identifies all changes in estimates, in excess of $500,000, from the projections in the previous budget or plan (the reconciliation shall identify changes in operating revenues and receipts, expenses and disbursements, gap-closing programs, collective bargaining costs, staffing levels and other changes as may be necessary);

(b) a projection of the number of employees to be employed by the MTA and each of the MTA agencies covered in the plan, including:

(1) whether the sources of funding such employees' salaries and benefits are reimbursable or nonreimbursable;

(2) numbers of full-time and full-time equivalents; and

(3) functional classification (e.g., operating, maintenance, administrative);

(c) a statement of each revenue-enhancement and cost-reduction initiative that represents a component of any gap-closing program and the annual impact on each revenue and expense category, including the estimated impact on staffing, whether any positions to be eliminated are vacant or filled and whether the reduction will occur through attrition, layoff or other action;

(d) a statement of the source and amount of any nonrecurring receipt or savings in excess of $1,000,000 that is planned for use in any given fiscal year;

(e) in the case of the plan, a debt affordability statement showing the budgetary impact of planned borrowings for each year of the pan consisting of the following:

(1) an estimated debt service schedule for each year of the plan;

(2) the estimated principal amount of each year's borrowings and assumed interest rate(s);

(3) projected debt service for each credit (other than borrowings secured solely by State service contract payments), as a percentage of total pledged revenues; and

(4) cumulative debt service (other than borrowings secured solely by State service contract payments), as a percentage of each of the following:

(i) operating revenues and government subsidies;

(ii) fare and toll revenues; and

(iii) nonreimbursable expenses;

(f) in the case of the plan, a statement of the annual projected capital costs by capital element (e.g., rolling stock and buses) and sources of funding for each year of the plan, and for each capital project, a statement projecting the annual commitment, total project cost, expected date of completion and an estimate of the annual cost for operating and maintaining those capital projects or capital elements that, when placed into service, are expected to have an impact of $1 million or more on the operating budget.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 202.4