Press Release Article


PORT AUTHORITY RELEASES FINANCIAL DATA FOR THE SIX-MONTH PERIOD ENDING JUNE 30, 2015

Date: Jul 23, 2015
Press Release Number: 103-2015

Action is part of agency's efforts to keep public informed and increase transparency

The Port Authority today released financial data through the second quarter at its monthly Board of Commissioners meeting – part of the agency’s ongoing initiatives to enhance transparency and to keep the public informed about its financial performance.

Earlier this year, the Board announced that it would release quarterly unaudited financial information that covers the agency's facilities, operations and holdings. The information will be updated every three months, providing a greater public window into the Port Authority's financial results and position.

"The Port Authority’s release today of its mid-year financial results is another important step in our ongoing effort to make our operations more transparent to the public we serve," said Port Authority Chairman John Degnan. "We hope such reforms will help maintain the public’s trust in the agency in the years to come."

"The public has a right to know how the Port Authority spends its money," said Port Authority Vice Chairman Scott Rechler. "This is another step forward in bringing transparency and reform to the bistate agency."

The Port Authority's unaudited financial statements for the six months ending June 30, 2015 are on the agency's website at http://www.panynj.gov/corporate-information/unaudited-condensed-financial-statements.html.

Contact:
Port Authority of New York and New Jersey
212-435-7777

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.


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