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Audit Report on the New York City Economic Development Corporation’s Administration of the NYC Ferry Operation

Date Published:

2022-07-06

Description:

This audit found that EDC did not disclose over $224 million in expenditures as ferry-related in its audited financial statements and that EDC understated the City’s subsidy for the ferry operations by $2.08, $2.10, $3.98 and $4.29 for Fiscal Years 2018, 2019, 2020, and 2021, respectively.

Agency:

Comptroller (COMP)

Subject(s):

Government, Transportation, and Accounting

Report Type:

Audit Report