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This case presents the challenges faced by the Metropolitan Transportation Authority (MTA) in New York as it seeks to secure the financial resources to renovate Grand Central Terminal, a major railroad station and historic landmark in the center of midtown Manhattan. The MTA has raised most of the funds for the $275 million project, but is left with an $84 million gap in the financing plan. Peter Stangl, the chairman of the board, must develop a plan to fill this remaining gap or be prepared to sacrifice critical aesthetic elements of the project to meet the budget constraint. The case discussion can focus on the various ways in which public and nonprofit organizations gain control of financial resources and the obligations that come with that control. The case assumes little or no previous formal training in accounting or budgeting and can be used in introductory courses on financial management. Curriculum Division: Analysis of Policies and InstitutionsAuthor: Jay H. WalderTopic: Public Finance