The Pennsylvania Turnpike Commission, with its long history of patronage jobs, inefficiency and wasteful spending, no doubt prefers to remain below the radar. But thanks to a report by state Auditor General Jack Wagner, public attention is again focused on the commission — and the need for reform.

Most of the problems highlighted by Wagner are the fault of the turnpike commission. But one, the commission’s rapidly rising debt, is the fault of the state Legislature.

Wagner’s report targeted the commission’s use of risky financial deals called “swaptions” and a lack of control over spending and costly giveaways.

As far as the swaptions go, the turnpike commission is not alone. Dozens of school districts and municipalities have been caught making bad bets on interest rates costing millions of dollars. Swaptions are contracts between two parties involving bets on whether interest rates will rise or fall. Wall Street investment firms sold swaption deals that earned them millions of dollars in fees while ultimately costing the school districts or, in this case, the turnpike commission, millions of dollars when the bets went bad.

Wagner’s report, released last week, shows the turnpike commission has been on the losing side of interest-rate swap deals that have cost about $109 million, including about $59 million in fees and interest for terminated swap deals.

The commission has ongoing exposure to swaps, and Wagner’s audit recommends terminating those swaps as quickly as it makes financial sense to do so. The report also recommends a ban on entering into future swap deals.

Wagner noted that the commission’s long-term debt has ballooned to $7.3 billion from just $2.6 billion in 2007, when Act 44 was passed by the state Legislature. That law required the turnpike commission to make annual payments of $450 million to the Pennsylvania Department of Transportation to help fund work on roads and bridges.

But Act 44 had two parts. Increased funding from the turnpike to PennDOT was one part. The other part was a new revenue stream for the commission from tolling Interstate 80.

While tolling of I-80 was rejected by federal officials, the $450 million annual payment to PennDOT remained.

The result is that the turnpike commission has not only increased debt by 181 percent since Act 44, but it’s also raised tolls for using the turnpike every year since Act 44 was approved.

The absurdity of the half-enacted Act 44 points to the failure of the General Assembly and Gov. Tom Corbett to address the state’s transportation funding needs, despite sensible recommendations from a special commission in August 2011.

Despite the recommendations from the governor’s own transportation study commission, nothing has been done about transportation funding — and the turnpike is rapidly loading on debt, while also blowing more than $100 million on bets over interest rates.

Wagner’s report also noted that the turnpike commission lets all employees travel free, even when not traveling the toll road for work. Similarly generous toll-free travel benefits have been given to 5,000 consultants, contractors and other state officials. Altogether, these goodies cost the commission about $7.7 million in lost toll revenue from January 2007 to August 2011.

Wagner, who leaves office Tues-day, has powerful arguments for the Legislature to demand more accountability, less patronage and less wasteful spending from the turnpike commission.

The Pennsylvania Turnpike Commission is notorious for operating as an independent fiefdom and a swamp of patronage jobs and no-bid contracts. Some might observe that reform from Harrisburg is unlikely because lawmakers historically have enjoyed doling out patronage benefits through the turnpike commission.

Incoming auditor general, former state Rep. Eugene DePasquale, should continue to shine a light on spending, waste and inefficiency at the turnpike commission — and press for major reforms to clean up the commission.