ALBANY – The MTA held over $90 million in funds and bank accounts that could have been used to meet its budgeted costs, according to an audit released Wednesday by State Comptroller Thomas DiNapoli.

The MTA, which operates the New York City transportation system, also runs the Metro-North Railroad bringing commuters from the Mid-Hudson Valley to Grand Central Terminal.

Assemblywoman Annie Rabbitt (R-Greenwood Lake), who represents portions of Orange and Rockland counties, said the discovery of this “hidden” money is an insult to the region, especially given the continued imposition of the payroll tax.

“When we saw the MTA tax come in and hit the Hudson Valley hard on our businesses and our schools, and now the lower courts are saying it is unconstitutional, seeing $90 million in a fund and the comptroller finally doing something about this audit, doesn’t even begin to say what an insult this is to the taxpayer,” Rabbitt said.

The assemblywoman charged the MTA with being mismanaged and chided the comptroller’s office for taking so long to conduct this audit. And she said the audit points up the fact that the payroll tax should be eliminated completed.

“The MTA is leaving money on the table and in these tough times, every dollar counts,” said DiNapoli. “Our auditors identified several ways in which the MTA could vastly improve now it manages its cast and investments.” He said the MTA “must do a better job.”