Reports

On April 25, the Mayor released his executive budget for fiscal year (FY) 2020 and the associated financial plan (the “April Plan”). The FY 2020 budget totals $92.5 billion, including $68.2 billion that will be funded with locally generated revenues (i.e., City funds).

In 2017, the State’s 109 active Industrial Development Agencies reported projects valued at $98.1 billion, with over $750 million in net annual tax exemptions and $8.0 billion in total debt outstanding, including conduit and other debt. They supported 4,385 projects that produced a net total of 198,522 jobs gained since their inception through 2017.

Interactive Map

This year’s State budget process was complicated by December and January tax revenues falling billions of dollars short of expectations. By the start of the new fiscal year on April 1, the picture was somewhat brighter as a result of stronger than anticipated revenues for the month of March and a higher than expected General Fund balance to begin the new year.

This report on the use of overtime by New York State agencies examines patterns over the past ten calendar years. The total cost of overtime in calendar year 2018 was almost $787 million, covering roughly 18.1 million overtime hours worked.

New York City’s economy continues to set records, although external risks are growing. A total of 820,400 jobs were added between 2009 and 2018, the largest and longest job expansion in the post–World War II period. Employment set an annual record of 4.55 million in 2018, 721,800 higher than the prerecession level in 2008.

State tax revenues in December and January fell far short of earlier projections, making the process of adopting the new State budget more difficult than in the recent past.

This report summarizes results of school district scores for the 2017-18 school fiscal year (SY) and compares results to SY 2016- 17.

New York City’s economy is strong and continues to set new records. It added 715,000 jobs between 2009 and 2017, the largest and longest job expansion in the post–World War II period. Employment reached a new record of 4.4 million in 2017, 615,000 higher than the prerecession peak. Although job growth has slowed, the City is still on pace to add another 72,000 jobs in 2018. The unemployment rate fell to 4 percent in October 2018, the lowest monthly rate in 42 years.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2018-19 through SFY 2020-21, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

The Metropolitan Transportation Authority (MTA), which operates the regional transportation system in the New York City metropolitan area, is facing its greatest challenge in decades.

In 2009 and 2010, President Obama and Congress enacted two major laws—the American Recovery and Reinvestment Act, and the Affordable Care Act—that provided significant new funding to help New York and other states provide essential services to the people.

Excel file with supporting data

The Comprehensive Annual Financial Report for the New York State and Local Retirement System (the System or NYSLRS) for the fiscal year ended March 31, 2018.

The Fiscal Stress Monitoring System (FSMS) annually assesses fiscal stress in local governments and school districts. This report summarizes the fiscal and environmental results of all 1,589 New York counties, cities, towns and villages for their fiscal years ending in 2017.

As of March 31, 2018, the State’s General Fund cash balance was $9.4 billion, the highest in recent history. But this cushion is expected to shrink: the State’s Financial Plan anticipates that more than $3.9 billion, or 42 percent of this figure, will be used in the 2018-19 fiscal year.

New York State has a proud history of working to make health insurance coverage as widely available as possible, to promote public health and improve New Yorkers’ quality of life.

The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2018.

This report on the use of overtime by New York State agencies examines patterns over the past ten calendar years. The total cost of overtime in calendar year 2017 was more than $761 million, covering roughly 17.5 million overtime hours worked.

New York City’s economy is strong and continues to set new records. It added 715,000 jobs between 2009 and 2017, the largest and longest job expansion in the post–World War II period. After growing by 81,000 jobs in 2017, employment reached 4.4 million, a new record and 615,000 higher than the prerecession peak. Although job growth has since slowed, the City is on pace to add more than 72,000 jobs in 2018.

A number of laws govern the procurement of goods and services. Seeking competition guards against favoritism, extravagance, fraud and corruption. However, there is a well-established exception to these competitive bidding requirements for professional services, such as those rendered by attorneys, engineers or accountants, where cost is only one element that a responsible local official would want to consider. This report discusses some categories of professional services, the costs associated with these services and recent audit findings by OSC about local procurement policies and their implementation. The report also highlights best practices that local governments and school districts can follow that may reduce costs. 

In governmental budgeting, there can sometimes be a tendency to focus on the short term. At any level of government, taxpayers and those who depend on public services can suffer if officials don’t ensure a strong financial foundation for the long term as well.