Comptroller reviews MTA finances - New York News

Comptroller reviews MTA finances

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The office of New York Comptroller Thomas DiNapoli examined the finances of the MTA based on the authority's own books. It concluded the MTA finances were a bit better but "risks remain."

Some key findings include subway bus and railroad fares will go up in the next couple of years three times more than projected inflation.

The cost of employee overtime, health benefits, and pensions will be more than $2 billion by 2016 and the debt paid for MTA loans will be $3 billion a year by then. 

The only comment from the MTA was a statement issued by Chairman Joe Lhota, who in part noted it was thoughtful and thorough.

The review noted that the MTA has reduced costs by cutting its administrative staff.

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