Need for the 1983 Saint Lawrence Seaway Toll Increase
RCED-83-131: Published: Apr 11, 1983. Publicly Released: Apr 11, 1983.
- Full Report:
In response to a congressional request, GAO assessed the Saint Lawrence Seaway Development Corporation's basis and need for toll increases during 1983 in view of the termination of its debt to the Department of the Treasury.
GAO concluded that the 1983 toll increase is needed. GAO found that the savings which resulted from the termination of the Corporation's debt and the additional revenue expected from the toll increase will be used to finance deferred and planned projects. GAO noted that, despite these measures, the Corporation's fiscal year 1983 budgeted expenses exceed its currently projected revenues by $600,000. This operating deficit will cause additional deferrals of needed projects.