Press Release Article


PORT AUTHORITY LAUNCHES DASHBOARD TO PROVIDE PUBLIC WITH QUARTERLY UPDATES ON CAPITAL PROJECTS

Date: Jun 02, 2015
Press Release Number: 80-2015

In its ongoing efforts to enhance transparency, the Port Authority today launched a new dashboard on its website that will provide detailed quarterly updates on all active agency capital projects.

The dashboard will provide cost and schedule information for the 372 active projects in the 2015 Capital Budget, under the agency’s 10-year, $27.6 billion Capital Plan that was adopted last year. To access the dashboard, which will be updated quarterly, click here.

The dashboard website provides detailed information on the amount of capital spending on the active projects at the agency, department and facility levels. These pages also break down spending by the type of work at each facility. The main feature of the dashboard is a list of all active projects with original completion date and cost as well as the current forecast cost and timeline information for the project. The dashboard also provides information on projects that may be trending to potentially experience cost overruns and/or schedule delays.

The decision to post the dashboard resulted from a recommendation in the Special Panel on the Future of the Port Authority Report, commissioned by Governors Cuomo and Christie and released in December 2014. The project-level information to be made available on the dashboard augments information that was already provided to the public in the published 10-year Capital Plan and 2015 Capital Budget, which are available on the agency’s website click here.

"It’s critical that we continue to provide as much information about our capital program as we can if we are to continue to rebuild the public’s trust in this agency,” said Port Authority Executive Director Pat Foye. “This dashboard is another tangible way for the public to measure how we’re doing in our investments to modernize and maintain the region’s airports, bridges, tunnels, terminals, seaport and PATH system."

Release of the dashboard comes a month after the agency announced that it will make public interim financial statements on a quarterly basis to enhance transparency of the agency’s finances. Financial information that covers the agency's facilities, operations and holdings now will be available every three months, thereby providing more frequent updates on the Port Authority’s finances.

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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