The Massachusetts Bay Transportation Authority’s Fiscal and Management Control Board adopted the agency’s fiscal 2018 operating budget.
The $1.989 billion budget, which is slightly lower than last year’s spending plan, has a deficit of $30 million.
“We still face serious challenges, but we can also report significant progress, more than many people thought was even possible,” said MBTA Acting General Manager and Chief Administrator Brian Shortsleeve, in a statement. “We owe it to our riders to keep making the tough decisions necessary to position the “T” for long-term sustainable success.”
The agency said the deficit will be largely covered by borrowing from the $187 million in additional assistance provided to the MBTA by the state legislature this year. That includes $150 million set aside for capital investments.
The FMCB also called on MBTA staff to find $5 million in savings from commuter rail operations.
A contract agreement with the Boston Carmen’s Union Local 589 produced operating savings of $217 million due to lower wage rates for new hires, work rule reforms, and slower progressive wage increases.
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