New York State Thruway Authority

Debt Issuance Costs and Services (Follow-Up Report)

The New York State Thruway Authority issues bonds and notes to finance capital projects. The sale of such debt instruments requires various financial and legal services. In audit 2004-S-36, we examined the practices used by the Authority in obtaining these services and identified the need for certain improvements. In particular, we identified the need for the Authority to document why firms were selected to provide the services. When we followed up on these matters with Authority officials, we found that they had implemented some of our audit recommendations, but had not implemented others.

For a complete copy of Report 2008-F-22 click here.