MTA WON'T RAISE FARES FOR ONE YEAR RESERVES TO BE TAPPED.Byline: RACHEL URANGA Staff Writer Metropolitan Transit Authority officials Monday announced a $3 billion budget for 2006-07, promising to expand bus and rail service and pay for it by dipping into reserves rather than raising fares. Walking a financial tightrope, officials say they will put off rate hikes for one year and cover a projected $112 million deficit by draining reserves Draining reserves Federal Reserve System's course of action to tighten the money supply by (1) raising a bank's minimum reserve requirements, (2) selling bonds in the open market, (3) raising the rate at which banks borrow from the Fed, or (4) through draw-downs. to just $66 million by the end of the budget year. ``We are doing everything we can,'' said Roger Snoble, the MTA's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . ``Even though we are looking at difficulties in the future years, the money we are provided with we use very efficiently.'' Snoble said raising rates is one of the few ways to help pay for the 1.2 million bus and rail boardings made daily. But some MTA (1) (Message Transfer Agent or Mail Transfer Agent) The store and forward part of a messaging system. See messaging system. (2) See M Technology Association. 1. (messaging) MTA - Message Transfer Agent. board members blame the agency's bloated bureaucracy, saying costs have soared and precious transportation dollars have been wasted on future projects. ``The agency has more fat in it that has been identified,'' said Zev Yaroslavsky, a Los Angeles County supervisor and board member. ``There are funds now being spent on planning and analysis that are not likely to see the light day for many years.'' Yaroslavsky says the agency has been reluctant to pare down soaring salaries and failed to rein in to check the speed of, or cause to stop, by drawing the reins. to cause (a person) to slow down or cease some activity; - to rein in is used commonly of superiors in a chain of command, ordering a subordinate to moderate or cease some activity deemed excessive. See also: Rein Rein costs at construction sites. ``Every department of the agency has to be looked at. There can be no sacred cows,'' he said. ``Left to their own devices the MTA bureaucracy will propose a status quo [Latin, The existing state of things at any given date.] Status quo ante bellum means the state of things before the war. The status quo to be preserved by a preliminary injunction is the last actual, peaceable, uncontested status which preceded the pending controversy. budget. They will not move people around or make cuts where cuts make sense.'' Noble, who calls his agency the country's ``leanest,'' has cut 554 positions over the last four years. He said it has also increased ridership 4.7 percent and boosted fare-box revenues 9 percent over the last year. But the revenues -- projected at $295 million -- pale compared with the costs of operating rail and buses -- about $1.1 billion. The agency has also made $5 million in cuts to administrative departments, including $274 million from the CEO's office as well as deferring some construction work and putting off mechanical work on 20 older buses in the fleet. At the same time, the MTA will continue plans to construct the Gold Line extension into Boyle Heights, design a Mid-City light rail project and complete the 101 Ventura Freeway overcross at the 405 San Diego Freeway The San Diego Freeway (Interstate 405, and the part of Interstate 5 south of the El Toro Y[1]) is one of the principal north-south highways in Southern California, and the major beltway of I-5 running through Southern California. . The agency will also continue to extend bus services as required by a 10-year federal consent decree A settlement of a lawsuit or criminal case in which a person or company agrees to take specific actions without admitting fault or guilt for the situation that led to the lawsuit. A consent decree is a settlement that is contained in a court order. set to expire this year. Seven Metro Rapid lines will be opened over the next year including one through San Fernando Road San Fernando Road is a major street in the city and county of Los Angeles. It starts off in Castaic as The Old Road, passing through Santa Clarita and the Newhall Pass, where upon its intersection with Sierra Highway near the junction of the Golden State (I-5) and the and Lankershim Boulevard. Under the order, the MTA must continue expansion of bus services for poor and minority communities. ``This is a self-imposed budget crisis,'' said Manuel Criollo Criollo native Spanish-American light horse or riding pony. Includes a number of ethnic varieties, e.g. Argentine Criollo. Any color, 13.3 to 15 hands high. Originated from a mixture of Arab, Barb and Andalusian. , lead organizer for the Bus Riders Union. Money should be spent on increasing Rapid bus service instead of investing high-cost subways and freeway projects. ``Again bus riders are going to be the ones left holding the bag.'' rachel.uranga(at)dailynews.com (818) 713-3741 |
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