It was a long weekend at the M.T.A.
After sounding the alarm late last week that the agency was facing a $343 million dollars budget deficit, a judge ruled late Friday that transit workers are, in fact, entitled to an 11.5 percent pay increase over the next three years–a decision that stands to cost the agency $100 million dollars next year, and $200 million in 2011.
The M.T.A. has to present a balanced budget to its finance committee this morning, meaning it had to excise an extra $100 million over the weekend from the “doomsday” cuts that were already proposed.
“We are working through the weekend to incorporate this news into the balanced 2010 budget that must be presented on Monday to the Finance Committee of the MTA Board,” said M.T.A. spokesman Aaron Donovan in a Saturday afternoon email to the press.
The finance committee meeting is at 10:45 a.m., and the carnage will be webcast.