New York City Economic Development Corporation
East 34th Street Heliport: Revenue Operations (Follow-Up Report) The East 34th Street Heliport is one of three public heliports in New York City. The Heliport is managed by a private company pursuant to an operating agreement with the New York City Economic Development Corporation. The company is required by the agreement to remit a percentage of its total revenue collections to the Corporation as a rental fee. In our prior audit 2007-N-7, we found that the company did not always fully bill carriers for their flights and underreported some of the revenue it collected. We also determined that the company was not actively pursuing certain unpaid accounts. As a result of the revenue reporting and collection weaknesses that we identified, the Corporation was not being paid all the rent revenue it was due. We recommended that certain improvements be made in the company’s revenue reporting and collection practices. When we followed up on these matters with Corporation officials, we found that some improvements had been made, but additional improvements were still needed.
For a complete copy of Report 2008-F-39 click here.
For a copy of the 90-day response click here.