The New York State Assembly has passed a bill mandating the Thruway Authority to enhance financial transparency by providing detailed reports every six months. This legislation, known as S608/A7086, will require the Authority to submit financial statements, including revenues, expenses, and a comprehensive list of contracts, to various state officials. Assemblymember Angelo Santabarbara, a cosponsor, asserts that this step is vital for fostering public confidence in government spending. Current reporting only occurs annually, and the new requirement aims to make the Thruway's financial management more open and accountable to taxpayers.
Assemblymember Angelo Santabarbara stated that the legislation is a "meaningful step toward greater accountability," emphasizing that "taxpayers deserve transparency from every level of government," including transportation authorities.
The bill would require the Thruway Authority to provide economic updates every six months, detailing its revenues, expenses, and a list of contracts, enhancing public disclosure.
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