First Deputy Comptroller Grannis Testifies Before NYS Senate Panel on Public-Private Partnerships
In testimony before the State Senate Transportation Committee, State First Deputy Comptroller Pete Grannis repeated State Comptroller Thomas P. DiNapoli’s call for extensive planning and cost benefit analyses on public-private partnerships to be sure funds are spent wisely and project goals met.
“Given the state’s limited capacity for meeting its capital needs, it is not surprising that the governor and legislature are considering public-private partnerships, where government allows the private sector to control one or more of the activities traditionally managed by the state in order to reduce construction or service costs and/or control capital expenditures,” Grannis said in his testimony. He cautioned against “a tendency for government decision-makers to view P3s as a ‘magic bullet’ solution.”
For a copy of Grannis’ testimony, click here: http://www.osc.state.ny.us/press/releases/may11/ppp_testimony0511.pdf
Earlier this year, Comptroller DiNapoli released a report on P3s that warned of pitfalls that go with focusing on potential financial benefits without considering potential risks.
For a copy of DiNapoli’s P3 report, click here: http://osc.state.ny.us/reports/infrastructure/pppjan61202.pdf