State lawmakers in New York are taking a look at the finances of the Metropolitan Transportation Authority.

Two state Senate committees will hold a hearing on the transit agency Monday in Albany.

The MTA is facing challenges in securing funding for an ambitious $32 billion, five-year plan to upgrade equipment and services.

Senators say they want to find ways to prevent an expected deficit at the agency without fare increases or service reductions.

MTA Chairman Thomas Prendergast is expected to address lawmakers at the hearing.

Gov. Andrew Cuomo has proposed setting aside $750 million for new MTA subways and buses as part of his state budget proposal for next year.

(AP)