any substantial conversations regarding revenue, except the doom and gloom presentation that jonathan rewers gave earlier. please listen to us. we're not on this call because we have nothing better to do. we are on this call because we know from our checkbook to our children's school to our gas tank to our work site, we know what is at risk. you have a resource. utilize it. please, for the last time, utilize the workforce that you have. thank you. >> chair borden: thank you. next speaker, please. >> you have one question remaining. >> caller: hi, this is barry toronto again. i want to say that i commend all of you for sticking it out these two days. it used to be a one-day affair. i believe that the m.t.a. even bought you a lunch to go along with it. unfortunately, you're going to have to make your own meals or provide your own water during these meetings. at least they broke it up into two days so you had time to go have dinner, rather than to miss out on it or to eat with your family. so i wanted to point out they think that excluding community engagement is a huge mistake. or balancing ou

board members, jonathan rewers i'm the senior manager of budget financial planning analysis. we want to give you a sense of where we stand currently. you'll see we've kind of laid out what our total revenue losses are. we'll cover that more detail tomorrow. it's nearing $600 million, julie just noted the austerity measures and reduction in expenditures that occurred in the current fiscal year. we have a projection what we think we will receive from federal relief, low end of about $230 million that should be positioned to close our budget deficit in the current fiscal that leaves about $86 million for the next fiscal year we will have discussions about what additional expenditure savings looks like. that discussion will occur in the session tomorrow. we'll be working to solve about $134 million budget deficit in fiscal year '22. the other thing that we done is in light of ben rosenfield, our city controller said, rather than just purely update our 5-year financial forecast, we developed a number of scenarios kind of considering some of the questions that the board members had

actually so with this slide i'll turn it back to jonathan rewers who can take us through it. >> so what we have been working on, when you look at the gaps, both on capital and operating, you see that those gaps start growing on themselves and start growing exponentially. and so we've identified a gap of nearly $36 billion over the next 30 years. this is an update to reports that were done for transportation 2030, and transportation 2045. we did a recast of that longer period of time to see where we would end up if we continue on those paths. and this is where we end up. and this is what the gap is. next slide. so let's talk about what it takes to close that gap and to kind of solve the problem. so how do we turn the corner and look to the future? so what we tried to do here is to start packaging things. to give people kind of a sense of the scale. and one of the reasons that we ran through different scenarios on the structural deficit is that when we looked at, again, the patterns back to 2002, 2006, every revenue measure took the immediate into consideration and did not consider the lo

any substantial conversations regarding revenue, except the doom and gloom presentation that jonathan rewers gave earlier. please listen to us. we're not on this call because we have nothing better to do. we are on this call because we know from our checkbook to our children's school to our gas tank to our work site, we know what is at risk. you have a resource. utilize it. please, for the last time, utilize the workforce that you have. thank you. >> chair borden: thank you. next speaker, please. >> you have one question remaining. >> caller: hi, this is barry toronto again. i want to say that i commend all of you for sticking it out these two days. it used to be a one-day affair. i believe that the m.t.a. even bought you a lunch to go along with it. unfortunately, you're going to have to make your own meals or provide your own water during these meetings. at least they broke it up into two days so you had time to go have dinner, rather than to miss out on it or to eat with your family. so i wanted to point out they think that excluding community engagement is a huge mistake. or balancing ou

board members, jonathan rewers i'm the senior manager of budget financial planning analysis. we want to give you a sense of where we stand currently. you'll see we've kind of laid out what our total revenue losses are. we'll cover that more detail tomorrow. it's nearing $600 million, julie just noted the austerity measures and reduction in expenditures that occurred in the current fiscal year. we have a projection what we think we will receive from federal relief, low end of about $230 million that should be positioned to close our budget deficit in the current fiscal that leaves about $86 million for the next fiscal year we will have discussions about what additional expenditure savings looks like. that discussion will occur in the session tomorrow. we'll be working to solve about $134 million budget deficit in fiscal year '22. the other thing that we done is in light of ben rosenfield, our city controller said, rather than just purely update our 5-year financial forecast, we developed a number of scenarios kind of considering some of the questions that the board members had

actually so with this slide i'll turn it back to jonathan rewers who can take us through it. >> so what we have been working on, when you look at the gaps, both on capital and operating, you see that those gaps start growing on themselves and start growing exponentially. and so we've identified a gap of nearly $36 billion over the next 30 years. this is an update to reports that were done for transportation 2030, and transportation 2045. we did a recast of that longer period of time to see where we would end up if we continue on those paths. and this is where we end up. and this is what the gap is. next slide. so let's talk about what it takes to close that gap and to kind of solve the problem. so how do we turn the corner and look to the future? so what we tried to do here is to start packaging things. to give people kind of a sense of the scale. and one of the reasons that we ran through different scenarios on the structural deficit is that when we looked at, again, the patterns back to 2002, 2006, every revenue measure took the immediate into consideration and did not consider the lo

board members, jonathan rewers i'm the senior manager of budget financial planning analysis.e want to give you a sense of where we stand currently. you'll see we've kind of laid out what our total revenue losses are. we'll cover that more detail tomorrow. it's nearing $600 million, julie just noted the austerity measures and reduction in expenditures that occurred in the current fiscal year. we have a projection what we think we will receive from federal relief, low end of about $230 million that should be positioned to close our budget deficit in the current fiscal that leaves about $86 million for the next fiscal year we will have discussions about what additional expenditure savings looks like. that discussion will occur in the session tomorrow. we'll be working to solve about $134 million budget deficit in fiscal year '22. the other thing that we done is in light of ben rosenfield, our city controller said, rather than just purely update our 5-year financial forecast, we developed a number of scenarios kind of considering some of the questions that the board members had t

rewers or mr. mcguire? >> so jonathan here, president of the m.t.a. >> president walton: thank you so much. >> supervisor peskin: mr. rewers you heard my line of questioning earlier. i want to thank you and mr. tumlin and ms. mcguire for our earlier conversation today. i think you and i both share similar concerns about following from operating dollars going forward to fund capital dollars now. you had a -- i don't want to say compelling, but somewhat compelling argument. would you like to state that to the board of supervisors, sir? >> thank you, supervisor peskin. just to cover the quick issues regarding the item. we are at a point in time within our general economy and market that this is the best time for the m.t.a. to realize debt. so we are working to line up this issuance of new money bonds with the refinancing that the board of supervisors approved last week. that will save the agency about $600,000 by combining those two issuances. in addition, we know right now that there are a number of issuances on new money t

rewers or mr. mcguire? >> so jonathan here president of the m.t.a. >> president walton: thank you so much. >> supervisor peskin: mr. rewers you heard my line of questioning earlier. i want to thank you and mr. tumlin and ms. mcguire for our earlier conversation today. i think you and i both share similar concerns about following from operating dollars going forward to fund capital dollars now. you had a -- i don't want to say compelling but somewhat compelling argument. would you like to state that to the board of supervisors, sir? >> thank you supervisor peskin. just to cover the quick issues regarding the item. we are at a point in time within our general economy and market that this is the best time for the m.t.a. to realize debt. so we are working to line up this issuance of new money bonds with the refinancing that the board of supervisors approved last week. that will save the agency about $600000 by combining those two issuances. in addition, we know right now that there are a number of issuances on new money tax-e