Last Monday, the state’s Authorities Budget Office (ABO) released its 2013 Annual Report on Public Authorities in New York State. The report provides five years’ worth of information on state and local public authority’s expenses, debt, staffing, and compensation practices.
Created under the 2009 Public Authorities Reform Act, the ABO reports on the 574 state and local public authorities in order to make them “more accountable and transparent, and to act in the public interest consistent with their intended purpose.”
Among its other findings, the ABO found that, as of the end of 2012, state authorities are responsible for some $151.1 billion in outstanding debt. It also found that debt issued by state authorities for their own public purposes declined as a percentage of total outstanding debt from 40.8% to 27.3%.