N.Y. Thruway Authority Needs Capital Plan: Comptroller

The New York State Thruway Authority is expected to face fiscal challenges with its current revenue structure and must implement a long-term capital plan to cover important infrastructure needs, according to a new audit.

New York State Comptroller Thomas DiNapoli released the audit Thursday. It said revenue has not kept up with demand for roadway and canal maintenance costs. The authority is responsible for overseeing and maintaining the 570-mile New York State Thruway system and since 1992 has also controlled the 524-mile New York State Canal System. Recently it has spearheaded the ongoing $3.9 billion replacement of the 61-year old Tappan Zee Bridge connecting Westchester and Rockland counties.

"The Thruway Authority should develop a better roadmap for the future," said DiNapoli in a statement. "In addition to the Tappan Zee bridge replacement, many of the Thruway Authority's aging roads and bridges require significant work or repair. Thruway officials need to come up with a viable plan to make ends meet for the long term and clearly lay out how it will affect New York drivers and taxpayers."

DiNapoli noted that the Thruway's annual operating losses increased from $126 million in 2010 to $227 million in 2014. In this same period, the authority's use of its prior year reserve balances, excluding monies for the Tappan Zee Bridge replacement, rose from $9.7 million to $86.6 million. The authority's borrowing also jumped during this stretch with total liabilities rising from $3.5 billion in 2010 to $6.4 billion in 2014.

Thruway officials noted in the audit that only about 10% of the roads and 20% of the bridges have been replaced or thoroughly reconditioned. The cost estimates to address these current needs is around $13 billion, according to the authority.