Requires the metropolitan transportation authority to contract with a certified public accountant for an independent forensic audit of such authority

BILL NUMBER:S1777A

Title of bill

An act to amend the public authorities law, in relation to directing the metropolitan transportation authority to contract for the provision of an independent forensic audit of such authority; and providing for the repeal of such provisions upon expiration thereof

Purpose

To have an independent forensic audit of the MTA There is too much uncertainty regarding the MTA and regarding where taxpayer money is spent. This independent audit will help bring some accountability to the MTA.

Summary of provisions

Section 1 The authority shall, within sixty days of the effective date of this section, contract with a certified public accounting firm for the provision of an independent, comprehensive, forensic audit of the authority. The independent public accounting firm must report its findings on or before January first, two thousand sixteen.

Justification

The MTA has increased rates and have received additional revenues through the MTA payroll tax. There needs to be some accountability to justify all of these taxes and fees that have been put on the counties that receive services from the MTA. An independent forensic audit will give the legislature an accurate report on where the money is being spent and where the MTA can find ways to save costs.

Legislative history

2011-12 - S.4501-A - Referred to Transportation

Fiscal implications

To be determined.

Effective date

This act shall take effect immediately, and shall expire and be deemed repealed January 2, 2016.