Roosevelt Island Operating Corporation

Operating Practices (Follow-Up Review)

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. In our prior audit report 94-S-59, we identified areas in which actions could be taken to reduce the Corporation's operating 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. In our follow-up review, we found that progress has been made by Corporation officials in implementing the recommendations contained in this report. For example, three full-time positions relating to the aerial tramway were eliminated, resulting in reported savings of about $170,000 a year.

For a complete copy of Report 97-F-51 click here.