N.J. lawmakers: Sports-Expo Authority finances a mess

    The New Jersey Sports and Exposition Authority came in for some criticism today at a state Senate committee hearing.
    The Authority has a $38 million deficit and is losing revenue because of horse racing losses and a new arrangement with the Giants and Jets.
    Senate Legislative Overnight Committee Chairwoman Barbara Buono questions the Authority’s accounting methods.

    The New Jersey Sports and Exposition Authority came in for some criticism today at a state Senate committee hearing.
    WHYY’s Phil Gregory reports from Trenton.
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    The Authority has a $38 million deficit and is losing revenue because of horse racing losses and a new arrangement with the Giants and Jets.
    Senate Legislative Overnight Committee Chairwoman Barbara Buono questions the Authority’s accounting methods.

    Buono: I’ll tell you this is and I thought I knew now to read a budget, this is more much difficult to comprehend, in fact it’s incomprehensible compared to the state budget.

    The authority’s executive director Dennis Robinson says the financial statements are clear.

    Robinson: It’s all there and it’s been reported the same way for 34 years.

    Robinson would not offer a solution to improving the Authority’s finances, saying that’s up to the Legislature and the Governor to decide. A special advisory commission formed by Governor Christie is now examining the entire sports, gaming and entertainment industry in the state.

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