Comptroller’s audit faults Olympic Regional Development Authority
By Martha Ellen, Watertown Daily Times, N.Y. | |
McClatchy-Tribune Information Services |
This was the second audit strongly critical of the authority in 10 years. In a 2005 audit, then-Comptroller
"ORDA's continuing struggles to maintain fiscal balance show that the authority needs to explore new ways to save costs and commit to sound financial planning going forward," Comptroller
ORDA operates Whiteface and
ORDA relies on loans and outside contributions to cover cash shortages. It uses a line of credit to cover operating costs, including payroll. Other state agencies sometimes pay ORDA's bills, including
ORDA lost
A capital improvement and major repair fund, required by state law, was empty.
ORDA also has a heavy debt load, including
Auditors determined that the authority could take steps to increase its income, including making sure it receives at least as much benefit from sponsors as it provides them in the way of advertising, condominium use and other agreements.
The audit also faulted ORDA for noncompetitive bids on 11 procurements totaling
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