Posted on 07/07/2022 3:16:55 PM PDT by lowbridge
Former Mayor Bill de Blasio used accounting gimmicks to hide nearly $225 million he poured into the city’s costly ferry system — and forced taxpayers to shell out as much as $14.57 for each ride as overwhelmingly wealthy passengers paid just $2.75 a piece.
Those are the key findings of a blistering audit released Wednesday by city Comptroller Brad Lander.
In addition, de Blasio wasted $66 million — including $34 million in “questionable vessel acquisition costs” — as a result of bad decisions by his hand-picked officials in charge of the city’s Economic Development Corp., the 50-page report said.
Although the EDC reported spending $534 million to operate the ferries during the six and a half years that ended on Dec. 31, auditors uncovered a total of at least $758.5 million in ferry-related expenditures — a difference of $224.5 million, Lander said.
The undisclosed expenses — which included payments to various vendors and personnel costs — comprised $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.
“If you just magically put your capital expenses below the line, you don’t have to show them — even though effectively it’s the same total set of costs in the system,” Lander said during a news conference at the NYC Ferry terminal in Manhattan’s Financial District.
“When ‘hide the ball’ is played with any amount — and certainly with nearly a quarter of a billion dollars — you can’t have confidence that your city’s telling the truth or providing the information that you need.”
Lander said uncovering the budgetary shenanigans meant that the money-losing ferry system was operating far deeper in the red than previously acknowledged by the EDC,
(Excerpt) Read more at nypost.com ...
Lock him up.
The corruption runs deep and wide.
Just like a socialist.
If you tried this you'd be arrested
Add that to the $800M that disappeared on his wife’s watch.
As Gomer Pyle would say “SURPRISE...SURPRISE...SURPRISE”
Have they tracked down that $850 million dollars he gave his prostitute wife yet?
When “CPA” stands for “Cut, Paste and Alter”.
Commies do what commies do.
.......well, the ONLY question is HOW MUCH money did DeBlasio put in his pocket or his wife’s purse!?
Or, a numbered account somewhere in the world.
And no real avenues to punish most of them with the prosecutors and courts bought and paid for.
That would be a crime for a peasant in the second-tier justice system.
And where is the $850,000,000 his nasty, fugly wife ‘lost’ when she was supposed to be using the money for the mental health needs of his constituents.
I swear, the Post is the only real paper left in this country.
Gosh
A Democrat liar and thief.
How rare.
Sad but true!
I don’t see the problem here. The voters wanted this. The man was an overwhelming favorite according to the votes cast. Wall off this horrible state and let them continue to eat the cake they so adore.
Curious as to which 'rat power-broker is pulling the strings to clear the deck of '24 Dem Presidential aspirants.
and let us not forget the 800 million he gave to his beastly wife a non elected official to run the mental health imitative and she so conveniently has no idea where any of it went
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