Dedicated Highway And Bridge Trust Fund              VNR  10/29/09

FINAL VERSION


(narrator)

NEW YORK’S ROADS AND BRIDGES ARE IN DESPERATE NEED OF REPAIR AND IMPROVEMENT. 

NOW, NEW YORKERS WANT TO KNOW WHAT HAPPENED TO THE CASH SET ASIDE TO FIX THEM. 

A REPORT RELEASED FROM STATE COMPTROLLER THOMAS P. DINAPOLI RAISES STARTLING CONCERNS ABOUT HOW THE MONEY WAS SPENT.


(DiNapoli)

“JUST ONE-THIRD OF THE MONEY IN THE HIGHWAY AND BRIDGE TRUST FUND HAS BEEN USED TO PAY FOR IMPROVEMENTS TO THE STATE’S AILING ROADS AND BRIDGES.”


(narrator)

IN 1991 NEW YORK CREATED THE DEDICATED HIGHWAY AND BRIDGE TRUST FUND TO PAY FOR THE CONSTRUCTION AND REHABILITATION OF ROADS AND BRIDGES. 

SINCE THEN ELEVEN-POINT-SIX BILLION DOLLARS WAS ACTUALLY SPENT ON HIGHWAYS AND BRIDGES…

TWELVE-POINT–SIX BILLION DOLLARS FUNDED STATE OPERATIONS AT THE DEPARTMENT OF MOTOR VEHICLES AND DEPARTMENT OF TRANSPORTATION…

AND NINE-POINT-ONE-BILLION DOLLARS WENT TO DEBT SERVICE.

THAT’S ELEVEN-POINT-SIX BILLION FOR NEW YORK’S INFRASTRUCTURE ---AND MORE THAN TWENTY BILLION DOLLARS SIPHONED OFF FOR OTHER USES. 


(DiNapoli)

“IF THIS TREND CONTINUES, THE STATE WILL HAVE TO TRANSFER NEARLY FOUR-BILLION-DOLLARS INTO THE FUND OVER THE NEXT FIVE YEARS. THE STATE CAN NOT AFFORD TO DO THAT. THE DIVISION OF THE BUDGET NEEDS TO DEVELOP A MULTI-YEAR FINANCIAL PLAN THAT RETURNS STRUCTURAL BALANCE TO THE FUND.”


(narrator)

AMONG COMPTROLLER DINAPOLI’S RECOMMENDATIONS:

-PLAN TO ENSURE THE FUND’S ABILITY TO MEET THE STATE’S HIGHWAY AND BRIDGE NEEDS TODAY AND IN THE FUTURE.

-PUBLICALY RELEASE QUARTERLY UPDATES OF THE FUND’S FIVE YEAR CAPITAL PROGRAM AND FINANCIAL PLAN.

-PRIORITIZE THE STATE’S INFRASTRUCTURE NEEDS ---AND MAKE SURE DETERIORATING ROADS AND BRIDGES ARE FIXED.


(DiNapoli)

“THIS MONEY SHOULD BE GOING TO KEEP OUR ROADS AND BRIDGES SAFE, NOT TO FUND STATE AGENCY OPERATIONS. THE CLOSURE OF THE BRIDGE TO VERMONT IN CROWN POINT IS JUST ONE RECENT EXAMPLE OF WHY THIS IS SO IMPORTANT.”