Controller warns of

In an August 2011 Cash Report released Wednesday, New York State 
Comptroller Thomas P. DiNapoli warned that the New York Metropolitan
 Transportation Authority’s new Financial Plan will be “operating on a razor
 thin margin.” He said that “estimated tax collections were primarily associated with 
robust estimated tax settlements based on 2010 earnings that are unlikely to 
be repeated in the coming months.”

Tax collections for the first five months of state fiscal year 2011-12 were
 $3.3 billion higher than last year for the same period, but $75.7 million 
below updated Financial Plan projections, said the controller’s report.

 “Revenue collections, as anticipated, have grown from past year,” DiNapoli
 said. “Still, the Blue Chip consensus economic forecasts for growth continue 
to be revised downward, raising concerns for the remainder of the fiscal 
year. We should be prepared for the possibility that revenue growth may 
falter, requiring downward adjustments to the Financial Plan.”