Audit finds problems with bridge authority numbers

Apr 07, 2013 -- 10:55am

 

- JUNEAU, Alaska (AP) - A newly released audit finds that toll and revenue projections for the Knik Arm bridge crossing are "unreasonably optimistic." The legislative audit, released Saturday, finds that projected cash flows to the state are likely overstated as a result. The Knik Arm Bridge and Toll Authority, or KABATA, defended its traffic, revenue and financial models as "the most comprehensive ever completed for a transportation project in Alaska." It says the audit failed in its stated purpose, "to provide legislators with the knowledge necessary to make informed decisions" about future, KABATA-related legislation.
 

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