New York's MTA Moving Forward With $200M 'Stabilization' Fund

O'Brien, Elizabeth
December 2004
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p7
Trade Publication
The article reports that New York's Metropolitan Transportation Authority will proceed with a controversial plan to create a $200 million stabilization account with this year's operating surplus instead of using the money to reduce or prevent a fare and loll hike, chief financial officer Stephen L. Kessler said Tuesday at The Bond Buyer's Second Annual Metro Finance Conference. Also on Tuesday, the MTA publicly released its November financial plan for 2005 to 2008. In a memo to the authority board, executive director and chief operating officer Katherine Lapp defended the $200 million fund, which is designed as a hedge against an expected drop in real estate taxes.


Related Articles

  • How to Make A 21st-Century Treasurer. Kroll, Karen M. // Business Finance;Oct2007, Vol. 13 Issue 10, p28 

    The article offers information on the tasks and responsibilities of corporate treasurers in the U.S. It states that treasurers should know where the business is trying to go and they need to create and execute financial plans to help their company. Moreover, they are required to develop good...

  • Meeting Treasury's New Mandates. Kroll, Karen M. // Business Finance;Feb2005, Vol. 11 Issue 2, p22 

    This article focuses on financial management in business enterprises. At the Association for Financial Professionals' 2004 annual conference, the journal "Business Finance" assembled a group of treasury professionals to discuss balance sheet management and liquidity. Panelists shared their...

  • Powering the Purse Strings. Beckles, Gina; Feng Zhen // Treasury & Risk Management;Jun2005, Vol. 15 Issue 6, p44 

    Presents the 2005 Treasury Technology Buyers' Guide. Type of company; Products; Delivery options; Price range; Selected large customers; Online links.

  • FORM: Chapter 9.  // Corporate Records Handbook (9781413306569);Jul2007, pF04 

    A form related to authorization of treasurer to open and use accounts is presented.

  • PEOPLE ON THE MOVE. Feng Zhen // Treasury & Risk Management;Feb2005, Vol. 15 Issue 2, p44 

    Reports on career developments of financial executives in the U.S. Appointment of Stephen Bensinger as treasurer of American International Group Inc.; Selection of Robert Levin as interim chief financial officer of Fannie Mae; Employment of Linda Harry as treasurer and senior vice president of...

  • EDITOR'S DESK. Wechsler, Pat // Treasury & Risk;Oct2007, p4 

    The author comments on career opportunities and advances in treasury and finance. She notes that may young treasury and financial professionals have become CFO of large companies. She refers to various advancements that make the profession less burdensome, such as financial software and the...

  • Nevada Hunts For Deputy Treasurer. J. L. // Investment Management Weekly;8/13/2007, Vol. 20 Issue 32, p5 

    The article reports on the search of the State of Nevada for a deputy treasurer of investments to manage the internal portions of its general investments, local government pool and permanent school fund, according to Diane Vansickle, who is leaving the position. Vansickle will serve as deputy...

  • Treasury's Mission - Critical Goals. Kroll, Karen M. // Business Finance;Oct2006, Vol. 12 Issue 10, p20 

    The article reports on the findings of the survey on the type of tools and tactics that corporate treasurers are looking for in the U.S. The survey shows that many treasurers are searching for tools and tactics they can use to shorten transaction-processing time, better manage financial...

  • Survey Reveals Treasury's Driving Forces.  // Business Finance;Oct2006, Vol. 12 Issue 10, p10 

    The article cites a survey conducted by "Business Finance" and the executive research group of J.P. Morgan Chase on corporate treasury and finance executives in the U.S. Majority of the respondents identified the internal efficiency initiatives as having the greatest impact on their treasury...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics