The governors of New York and New Jersey are calling for some serious belt tightening at the World Trade Center after a scathing report finds rebuilding costs at the site have skyrocketed.

The audit ordered by Governor Andrew Cuomo and Governor Chris Christie find the project is now estimated to cost nearly $15 billion.

The last estimate was $11 billion in 2008.

The audit calls the Port Authority dysfunctional and lacking consistent leadership.

New Yorkers who spoke with NY1 say the results of the audit are not so surprising.

"It seems as though we find out about these gross mismanagements and not a lot happens and given that the tolls have risen so dramatically and make it so difficult," said one Downtown worker.

"They need to definitely get together and figure it out," said another. "It's definitely costing me a lot of money just to drive over here."

Meantime, the agency says it's taking steps to address the concerns in the audit.

In a telephone interview, recently-named chairman David Samson emphasized the audit had nothing to do with politics.

"The important thing is there is no political grandstanding involved in this analysis. It's on the merits. It's substantive and it's about looking forward. It is also not about any individuals. It's about organization and process," said Samson.

Speaking to reporters today, Mayor Michael Bloomberg came to the defense of the agency, and pointed to the completion of the National September 11th Memorial.

"I don't know where those numbers come from, but can you imagine if America couldn't have come up with a memorial by the 10th anniversary I would suggest the press would have had a field day. It would have been an embarrassment around the world," said Bloomberg.

The mayor added the redevelopment of the World Trade Center site is helping to boost the greater New York City region.

The audit recommends the Port Authority establish new financial controls and recover cash it spent on behalf of the city during construction.