The MTA warned Friday that its budget crunch may force the embattled authority to cut back on subway and bus service this fall.

“We’ve got a lot of work to do,” said MTA chairman Pat Foye. “We’re reviewing the possibility of new subway and bus service adjustments in the fall.”

He added: “That is painful for all of us, but that is the reality.”

He did not provide specifics on the MTA’s most recent budget troubles this year, but said that service reductions could be previewed as soon as September.

The MTA’s long-term budget woes are well known. Agency figures show its budget deficits potentially hitting $1 billion by 2023.

It hopes to cut that deficit with a major consolidation plan, which has been subject to fierce criticism from good government groups.