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But Mr. Aguilar, who was formerly the general counsel for Invesco, an asset manager that operates money market funds, said on Wednesday that Ms. Schapiro and the S.E.C. staff had not adequately studied the issue before pushing for a vote.
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Capital money and operating money are not fungible.
"I had operating money for the next year," Mr. Workin said.
But on average, they get around a third of their operating money from fares.
"It gets harder and harder to raise operating money," he said.
The appeal provides operating money for programs including schools, inner-city parishes and spiritual formation classes.
The cuts, in transit operating money, came in the latest state budget last month.
"Give them operating money to keep them alive, but don't start something new".
Mr. Ehrlich, a Republican, asked the Legislature to increase operating money for the system to $800 million for the next fiscal year.
The schools receive operating money from the state, but only at about two-thirds the rate of conventional public schools.
It even began to give operating money to transit systems until that help was scaled back during the Reagan administration.
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