NYS T-way Authority

[Zerex]

I just read the 2022 annual financial report of the T-way authority.
It is an off Budget Authority....no Legislature involvement.............no budget oversight


Short story, they took in nearly 1 billion from tolls and lease payments.

Total operating expenses were half a billion dollars, including all saleries and equipment repairs/replacements

A clever accounting device was then applied....DEPRECIATION AND AMORTIZATION....400 MILLION
A cost for the t way treated like, say a container ship. this money now disappears as a cost of doing business...buried, gone................like an ugly wart...just gone

They value the t-way itself at 13 billion............total cost of investment thru the years. YOU CANT DO THAT.

Did the state ever value the State Fairgrounds like this, or the entire NYS roadways/ bridges and Fed Interstate state highwyas?...NO

I can tell you that what NYS owns in physical assets is owned by the people..........is never evaluated or depreciated..only the cost of annual repairs to the infrastructrue like to the NYSDOT's state highway theu an annual budget/system......College campus buildings, State medical centers, equipment replacements for state agencies...

All State Authorities operate this way.................this appears to be a rake off of$ 400 million each year that does not exist anymore.........depreciation is a tax thing a fart in the wind.

It was always rumored that these Authorities were monumental ripoffs, for politicians and in secret slush funds.........

 

[dean3690]

Money laundering in plain sight. It's a way of doing business that no one questions. This is why they want you to learn pre-calculus and trigonometry in school, but graduate without any financial education. You are prepped for a job in the job market working for someone else's business, not to be be a business owner or entrepreneur. No accounting, no economics, no budgeting, no insurance 101, no retirement planning. Most people don't have clue about depreciation, so again, a great place to hide the skim in plain sight like no bid contract union jobs making the big circle of life (or circle jerk) by union dues going to finance democrat campaigns with candidates family and friends getting big paydays and leftover campaign funds available for what ever the candidate chooses to do with them (trips, cars, home remodeling, etc.).

 

[Drinkthekoolaid]

No different than the Erie county water authority or the Niagara power authority. Just on a larger scale.

All these "authorities" are government approved and backed corporate mafias.

 

[S&W Fan]

Yup, most NY’ers are blind as fuck. This way of doing “ business “ has been implemented by robber barons since before this land mass called NY became a state.

 

[Saltwater60]

I could see depreciation being really high. Everything they have depreciates quickly. It’s all vehicles and equipment that lose value quickly and I’m sure they are factoring in the roadways. I’m sure there is plenty of monkey business but I’m going through an MBA program now and depreciation is a real thing businesses deal with.

 

[TEOTWAWKI inc.]

 

[MothMan]

Money laundering in plain sight. It's a way of doing business that no one questions. This is why they want you to learn pre-calculus and trigonometry in school, but graduate without any financial education. You are prepped for a job in the job market working for someone else's business, not to be be a business owner or entrepreneur. No accounting, no economics, no budgeting, no insurance 101, no retirement planning. Most people don't have clue about depreciation, so again, a great place to hide the skim in plain sight like no bid contract union jobs making the big circle of life (or circle jerk) by union dues going to finance democrat campaigns with candidates family and friends getting big paydays and leftover campaign funds available for what ever the candidate chooses to do with them (trips, cars, home remodeling, etc.).

Use to teach Consumer Mathematics in a high school. Things like credit card and checking accounts or mortgages and comparison shopping. It was considered dummy math by the administration.

 

[Zerex]

There is a concept in Real Estate.."under all is the land..it never dies...it may become worth less due to location factors, but redevelopment always happens.

Roadways, bridges, are infrastructure..the cost of annual repairs is in the yearly operating expenses...........yet the depreciate the entire system like it was the Empire State Building on one acre of land.
The original thruway bonds were paid off in 1988........Senator DP Moynihan announced in 1988 that in 1990 the entire thruway would be free.

The land is owned by the People....many farms were cut in half.......... and there were Fed dollars put into its construction and continued maintenance as part of the Interstate system.

Depreciating the entire system is grand larceny...a way to hide/get rid of $400 million a year profit? It don't depreciate..it just gets fixed.

 

[pshift]

Any type of agency labeled "Authority" has built-in waste and mismanagement with ZERO oversight. Here is a link as to how many there are across NYS. I want to work for some of these some day...

NYS Public Authorities Directory

This dataset includes an inventory of 500 state and local authorities that are maintained by the New York State Authorities Budget Office. State authorities are defined as public authorities with one or more board member appointed by the governor, other than interstate or international...

opengovny.com

 

[dwa12479]

The NYS Thruway tolls were supposed to end in 1996 when the bonds were paid off. Instead they've only increased. Significantly. Government will NEVER give up a revenue stream once it's established.

 

[Saltwater60]

The NYS Thruway tolls were supposed to end in 1996 when the bonds were paid off. Instead they've only increased. Significantly. Government will NEVER give up a revenue stream once it's established.

They will always find a need. Same with my town building the new school and asking residents to pay the $20 dollar special assessment to save money in the long run. Well now it’s turned into we need to raise taxes this year and last year to pay the debt payments. Wait what? You didn’t say anything about that when I agreed to pay $20 more per month for 20 years to cover this. Why wasn’t that figured in when asking for my decision. Oh wait the government lied to me I’m shocked. I’ve voted every school budget down since then and will continue to do so but others don’t agree with me so they pass.

 

[Zerex]

Since the T-way files no 1040, or business tax forms or even pays taxes...................DEPRECIATING THE ENTIRE T-WAY EACH YEAR........to bury the profit............ IS GRAND LARCENY. there is no tax liability to reduce............

Where do the NYS/NJAuthorities..all of them.............. send their profit each year?

Say $50 billion so far is hidden away for a "rainy day" fund, from all the Authorities.............this is Labor Union/Mafia/ Cartel level, money laundering.

Someone is getting paid to manage all this money UNDER SOME SUPERVISION...........WALL STREET KNOWS.............the majors handle this................"handle". It is likely used surreptitiously, like the Clinton Foundation cash.

 

[dean3690]

The NYS Thruway tolls were supposed to end in 1996 when the bonds were paid off. Instead they've only increased. Significantly. Government will NEVER give up a revenue stream once it's established.

TRUTH

 

[2WheelGnnr]

agreed depreiciation and amortization is NOT a operating expense cash transaction...it a Lower my Taxable profit tool. Lower that net Profit to show you didnt make any money...doesnt mean your cash poor for sure.

And Im sure the Depreciation amount is highter than before since they probably capitalized all the work and the NEW System and tearing down the stop and the work into putting the entry and exit changes...all that gets capitalized mostly and then depreciated over the life of the asset........ phantom loss........paper loss....other words come to mind.

 

[FP1201]

Use to teach Consumer Mathematics in a high school. Things like credit card and checking accounts or mortgages and comparison shopping. It was considered dummy math by the administration.

"Dummies" are easier to manipulate and exploit...'course so are educated idiots.

 

[96coal449]

I've avoided all toll roadways for decades. Now, since the demise of the troll booths, I avoid them like the plague.

Funny story. 2yrs ago I rode with my buddy to work, everyday using the NYS thruway. A few times I'd get up close and personal in the windshield, smile and extend both fingers at the automated toll traps. We always got a good laugh. A couple months ago he had told me ha hasn't paid a toll since the automation. I hadn't a clue while I was delivering the bird. He still uses the thruway frequently.

Recently I followed a lead truck to work, not knowing where the jobsite was, down the thruway. Of course I got billed in the mail. I wrote a check and in the memo space, I clearly wrote extorsion. They signed to it cashing the check. Wonder if I should take them to court? LOL

 

[Zerex]

Maybe you missed the point.....................NYS T-way pays no taxes, and is not required to file taxes.....so depreciation is not required............it is a theft, outright............grand larceny. Any accountant would know this...............

NYSP and AG will get right on this, with the Feds..........right?