State Comptroller Thomas P. DiNapoli says his office will launch a full financial audit of the Olympic Regional Development Authority (ORDA) after a report by his office found that financial issues persist at a time when its operations have been expanded to include the Catskills-based Belleayre Mountain Ski Center.
“ORDA’s venues have long been an essential part of the North Country economy, which heightens the need to ensure its stability and accountability to the public,” DiNapoli said in a statement issued to the press. “We will examine selected financial management practices related to payroll, procurement and other areas.”
DiNapoli’s “By the Numbers” ORDA report, released today, details operational losses and a reliance on a line of credit from a private bank, among other sources, to meet its spending needs. » Continue Reading.