Former NYC Mayor De Blasio Hid Ferry Costs

[Geee]

Real Clear Policy

Former New York City Mayor Bill de Blasio fudged the numbers to hide that his administration poured almost $225 million into the city’s costly ferry system, while taxpayers subsidized $14.57 for each ride as passengers paid just $2.75 each.

The New York Post reported on those key findings from a recent audit released by city Comptroller Brad Lander.

 

De Blasio also wasted $66 million — including $34 million in “questionable vessel acquisition costs” — due to bad decisions by the officials in charge of the city’s Economic Development Corp., the 50-page report said.

While the EDC said it spent $534 million to operate the ferries for six and a half years ending last year, auditors found at least $758.5 million in ferry-related expenditures — a $224.5 million difference, Lander said.

The hidden spending, which included personnel costs and payments to vendors and, used $181 million in capital spending and $43.5 million in operating expenses, “obfuscating the actual cost of the NYC Ferry system,” according to the audit.