Bridge Authority reports fiscal improvement
HIGHLAND, N.Y. >> Higher traffic volume and an end to a major improvement project in 2016 put the New York State Bridge Authority in a $20.3 million better position than it was a year earlier, according to a financial statement issued by the authority.
The statement, released last week, was part of an audit report that showed a 3.9 percent increase in revenue last year and a 42.3 percent nosedive in expenses.
“Operating expenses decreased ... mainly [due] to the decreased [upgrade] activities at the Newburgh-Beacon Bridge,” the report states.
The project to redeck both spans of the Newburgh-Beacon Bridge took three years to complete and cost $97.4 million, according to the authority.
The Bridge Authority operates the Kingston-Rhinecliff, Mid-Hudson, Rip Van Winkle, Newburgh-Beacon and Bear Mountain bridges. Crossings last year on the five Hudson River spans totaled 62,634,834, an increase of 4.2 percent from 2015, the authority said.
Drivers pay tolls only when traveling eastbound on the bridges.
Bridge Authority spokesman Thomas Scaglione said the agency’s improved financial position allows it to move forward with smaller projects.
“What this goes toward for us is maintaining our financial ability as it relates to our maintenance programs,” he said.
“We maintain our bridges at a consistent level of 5 [on] the bridge scale of from 1 to 7, which is a good grade and what [allows] us to have a good credit rating as well,” Scaglione said.
Bridge Authority board Chairman Richard Gerentine said the audit found strong oversight of the agency.
“Transparency and accountability are not just catch phrases,” said Gerentine, who also is an Ulster County legislator. “While public authorities are given latitude to do their work in an efficient and cost-effective manner, these independent checks and balances help make sure the Bridge Authority stays on mission and is acting properly.”
The authority added an internal auditor to its payroll in March 2005 after a state investigation found that former Executive Director John E. “Jack” Gaffney had bilked the agency out of thousands of dollars that he used for trips, meals and other personal expenses. Gaffney ultimately pleaded guilty to attempting to defraud the government and was sentenced to probation, community service and restitution.
The Bridge Authority has not been audited by the state Comptroller’s Office in more than a decade. The comptroller’s last audit report regarding the authority was issued in February 2005, covering the period of January 2003 through April 2004.
Scaglione said the Gaffney investigation and state findings resulted in a system that ensures the Bridge Authority maintains it integrity.
“That obviously brought about a number of different changes to the board structure and board operating system and the governance of the board, particularly around audit and finance,” he said. “They put in place self-imposed limits as to how much [money] the executive director has discretion over before he needs board approval. It was over $100,000 before Jack Gaffney, and right after that incident, it [was] lowered and remains ... anything over $15,000 requires board approval.”