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Jai Patel

๐Ÿ‘ค Speaker
137 total appearances

Appearances Over Time

Podcast Appearances

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And so our customers are telling us that by taking the subway, but also providing

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Our customer surveys, right, tell us that customers are satisfied with the service that we're providing.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

You know, Tim, I would be remiss if I didn't mention that back in 2023, we were the first transit agency to solve our fiscal cliff.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Thanks to Governor Hochul, Chair Lieber and the legislature, we were able to come out of a deficit unlike any other transit agency today.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

You've heard SEPTA is facing deep cuts.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Chicago but we were the first to say we need state federal and local aid and we got our state federal funding for us we also as the MTA contributing to our solving our deficit right the MTA contributes 500 million to its operating efficiencies and those deficits that we have in 27 and 28 and 29 are very small compared to our operating budget and we are committed to doing our part

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

in saving money to help ensure that we can balance our budget in the out years.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Correct.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So our fares help our operating budget.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Right.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So they 70 percent of MTA's cost are labor and fringe.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And so that pays for 70,000 employees.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And then the small fraction is for the non-labor contract.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So every fare contributes to operating cost.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So it's not optional, right, to pay the fare.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

We are encouraging every customer to pay their fare share.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So there's a couple of things that we're doing for fare evasion.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And our chair has been tackling this first when he became chair.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So on the subways, you've heard of us talking about we're doing fins, sleeves, gate guards, enforcing the exit gate, which is the

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

the fare evasion highway.