New York state Comptroller Thomas DiNapoli says a new audit shows the Thruway Authority faces significant fiscal challenges.
The report found that the authority has made progress in stabilizing its finances by cutting operating expenses and “generally” staying within its budget.
But DiNapoli, a Democrat, says the financial review shows the authority must take steps to plan for future challenges, and to figure out how it intends to pay for vital bridge and highway repairs in the years to come.
The audit found that the authority has increased its borrowing and use of reserves in recent years.
The authority oversees and maintains the 570-mile long state Thruway system.