ALBANY—New York State Comptroller ThomasDiNapoli has issued a report that warns that theMetropolitan Transportation Authority's nextcapital program could face a funding gap of at least $12billion.

While he notes that the MTA has made significant progress inrepairing and modernizing the regional transit system, a great dealof work remains and financing these capital investments over thenext 20 years will be difficult.

“Millions of New Yorkers rely on the MTA transit system andwhile it is in far better condition than it was 30 years ago, muchmore needs to be done,” DiNapoli says. “The MTA has to find a wayto finance improvements without putting the financial burden onriders. This can be achieved only by working closely with thefederal government, New York State and New York City to develop along-term financing program and by using resources effectively andefficiently. Otherwise, needed repairs will be pushed even furtherinto the future, and fares and tolls could rise even faster.”