Audit: NY agency holds millions in unused property

AP News
Posted: Mar 06, 2012 12:13 PM
Audit: NY agency holds millions in unused property

The state comptroller's office says the Department of Transportation is holding onto millions of dollars in unused property that could be used to generate revenue for New York and local municipalities.

Comptroller Thomas DiNapoli says his auditors reviewed more than 100 of the state DOT's potential surplus properties across New York and found that 18 of them with an estimated value of more than $7 million were unused and could potentially be sold.

DiNapoli says DOT needs to review its property holdings, identify those that could be sold and come up with a plan to make the transactions.

He also says DOT needs to do a better job of keeping tabs on properties that it leases.

DiNapoli says DOT officials generally agreed with the audit's findings and have begun implementing its recommendations.