CAPITAL PLAN

A capital plan is developed by staff for consideration by the Board of Directors. It has a planning horizon of at least 5 years and is updated annually. In addition to capital project costs, the CP includes the following elements: Description and availability of all sources of funds, Timing of capital projects, Effects of capital projects on MTA debt burden, and Debt service requirements. It is the MTAs current practice to include the CP in the annual budget for consideration and adoption.