NYS Canal Corp financials unaudited, accuracy disclaimed | The Locally Times
The New York State Canal Corporation presents its financial data as unaudited, explicitly disclaiming accuracy and reliability for public information.
The New York State Canal Corporation publishes financial information on its website that it explicitly labels as unaudited. This disclaimer specifies that the statistical and numerical information provided on the website is presented in an unaudited form. It also states that no representation is made that the information is without errors or omissions that may be considered material. The Canal Corporation directs that this website content is for informational purposes only and may not be relied upon for any other use. ## Liability Disclaimed for Errors The NYS Canal Corporation's financial information includes a broad disclaimer of liability. This disclaimer states that under no circumstances will the New York State Thruway Authority, its members, directors, officers, agents, employees, or counsel be liable to any person or entity for any loss or damage. This includes losses caused by, resulting from, or relating to any error or omission in the procurement, collection, compilation, interpretation, analysis, editing, transportation, transmittal, communication, or delivery of any information contained in the website. Furthermore, the disclaimer absolves these entities from liability for any direct, indirect, special, consequential, or incidental damages, even if advised in advance of the possibility of such damages. This means that if errors or omissions, even material ones, exist within the unaudited financial data, the public and other entities cannot seek recourse against the Thruway Authority or its associated personnel. The records indicate the number of employees as of 12/31/24 is 2,725. ## Unanswered Questions on Public Accountability The records do not specify why the NYS Canal Corporation's financial statements are explicitly labeled as unaudited. The documents also do not detail the standard practice for state public authorities regarding financial audits. The precise relationship between the NYS Canal Corporation and the New York State Thruway Authority, beyond the mention in the liability disclaimer, is not detailed in the provided information. This raises questions about the mechanisms in place to ensure fiscal accountability for the Canal Corporation's operations and use of public funds, particularly when its official financial information cannot be relied upon for accuracy. The potential risks for public funds and oversight, given the explicit disclaimer of accuracy and the possibility of material errors, remain unaddressed in the available documents. The impact of this lack of assured accuracy on public trust and the ability to understand the financial health and efficiency of the Canal system is not detailed.