Roosevelt Island Operating Corporation

Operating Practices

The Roosevelt Island Operating Corporation is responsible for the development, operation, security and maintenance of a planned, mixed-income urban community located on Roosevelt Island in New York City. For the 1994-95 fiscal year, the Corporation's operating revenues totaled $7.5 million and its expenditures totaled $9.2 million. The resulting deficit was funded by State appropriations. We identified areas in which actions could be taken to reduce this deficit. In particular, we noted that hundreds of thousands of dollars could be saved annually if certain operating changes were made in the aerial tramway between Roosevelt Island and Manhattan. We also noted that certain improvements could be made in the Corporation's internal controls.

For a complete copy of 94-S-59 click here.
For a copy of the associated follow-up report click here.
For a copy of the 90-day response click here.