CBC President Carol Kellermann submits this written testimony to the City Council joint Education and Contracts Committee hearing; CBC has two recommendations to increase accountability and transparency with regard to all of DOE’s fiscal operations, including contracting and procurement.
This written testimony by CBC President Carol Kellermann agrees, for the most part, with a report released by the Commission on Metropolitan Transportation Authority (MTA) Financing but offers suggestions for improvement. Specifically, CBC supports legislation to implement the Commission’s core recommendations (with revision), which are highlighted in the testimony.
In this letter to Governor David Paterson, CBC President Carol Kellermann agrees, for the most part, with a report released by the Commission on Metropolitan Transportation Authority (MTA) Financing but offers suggestions for improvement. Specifically, CBC supports legislation to implement the Commission’s core recommendations (with revision), which are highlighted in the testimony.
CBC commends the MTA for developing a transparent and essential preliminary financial plan for 2008-2011. The plan presents a realistic assessment of the budget gaps faced by the agency and identified multiple strategies to deal with them, including moderate and predictable fare increases.
The 12 proposals in this program emerged from a two-day conference of 120 civic, business, labor, and government leaders from across the State, organized by CBC in April 2006. The program is composed of the four steps in each of the following three categories: 1) state and local fiscal responsibilities, 2) debt reform and 3) budget reform.
New York State’s extensive reliance on authorities has given rise to four significant problems: 1) Misuse of the power to incur debt; 2) Insufficient oversight and coordination of project revenue backed and private conduit borrowing; 3) Insufficient reporting to support accountability; and 4) Insufficient independence in governance.
Printer-friendly version
