ASSEMBLY RESOLUTION No. 59

STATE OF NEW JERSEY

INTRODUCED FEBRUARY 22, 1996

By Assemblywoman WEINBERG and Assemblyman ZISA

An Assembly Resolution urging the Governor of New Jersey to send an audit team to review all financial aspects of the Port Authority of New York and New Jersey, including examination of all relevant contracts, books, accounts, documents, papers or financial records, and to make recommendations.

Whereas, It has been reported that the Port Authority of New York and New Jersey owns and operates a number of helicopters which are used by the Port Authority to ferry its commissioners over congested trans-Hudson crossings; and

Whereas, The Port Authority has reportedly amassed an extensive collection of art work valued in the tens of millions of dollars; and

Whereas, The costs of maintaining a helicopter fleet for the convenience of its commissioners, and the costs of assembling a vast art collection, including the employment of a curator by the Port Authority to take care of the collection, undermine the public's confidence in the ability of the Port Authority to manage itself in a fiscally responsible manner; and

Whereas, It is incumbent upon the State to determine whether the Port Authority, which is charged with the mission of operating bridges, tunnels and airports critical to the flow of commerce in this region, is managing itself in a fiscally responsible manner; now, therefore,

    Be It Resolved by the General Assembly of the State of New Jersey:

    1. The General Assembly hereby calls upon the Governor of New Jersey to review all of the financial aspects of the Port Authority by sending an audit team to review relevant contracts, books, accounts, documents, papers or other financial records and to make recommendations concerning the disposition of various assets and holdings of the Port Authority, and to recommend improvements in the financial management of the Port Authority.

    2. Duly authenticated copies of this resolution, signed by the Speaker of the General Assembly and attested by the Clerk thereof, shall be transmitted to the Governor of New Jersey, Christine Todd Whitman.

STATEMENT

    This resolution calls upon the Governor of New Jersey to send an audit team to review all of the financial aspects of the Port Authority of New York and New Jersey in order to determine whether the Port Authority is managing itself in a fiscally prudent manner. The review by the audit team would include relevant contracts, books, accounts, papers, documents and other financial records of the Port Authority. The resolution also calls for the audit team to make recommendations concerning the disposition of the Port Authority's holdings and assets, including but not limited to, the Port Authority's helicopters and art collection, and to recommend ways in which to improve the financial management of the Port Authority.

Urges the Governor of New Jersey to send an audit team to review the finances and assets of the Port Authority of New York and New Jersey.