Audit Finds NYC Ferry Expenses Underreported
NYC Ferry has underreported costs under according to a new audit. City Comptroller Brad Lander’s report shows that under the de Blasio administration the city’s Economic Development Cooperation left out 224 million dollars in operating costs over a six year period.
“The city removed capital expenses from its calculation in 2018. Not so coincidentally, shortly after, then Mayor Bill de Blasio announced a 300 million dollar capital investment in the system.”
The audit means the city subsidy for NYC Ferry is much higher at nearly 13 bucks per ride. The EDC accepted some recommendations in the audit and agreed to more transparency.