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NYC Finances Remain Strong But Out-Year Budget Gaps Have Grown
… New York City's economy is on pace to add more than 72,000 jobs in 2018 and the unemployment rate has fallen to 4.2 percent, the lowest … reserves and should continue to do so given the threats on the horizon." The city's most recent four-year financial …
https://www.osc.ny.gov/press/releases/2018/07/nyc-finances-remain-strong-out-year-budget-gaps-have-grownOpinion 90-40
… discussed in the opinion. VILLAGE MAYOR -- Deputy (right to vote as trustee and deputy mayor) PUBLIC MEETINGS AND … -- Voting Procedure (right of village deputy mayor to vote as deputy and as trustee) VILLAGE LAW, §4-400(1)(a): … deputy mayor during the absence or inability of the mayor to attend a meeting of the board of trustees, may cast two …
https://www.osc.ny.gov/legal-opinions/opinion-90-40DiNapoli Analysis Finds Worrisome, Uneven Economic Recovery Among NYC's Labor Force
… New York City lags behind the rest of the state and nation in … to an analysis on the city’s labor force released by New York State Comptroller Thomas P. DiNapoli today. By March … recovered just under 71% of jobs lost, while the rest of New York state has regained 82% of jobs. By April 2022, the …
https://www.osc.ny.gov/press/releases/2022/05/dinapoli-analysis-finds-worrisome-uneven-economic-recovery-among-nycs-labor-forceDiNapoli: State Fiscal Year 2021-22 Tax Revenues $3.3 Billion Over Final Projections
… $121.1 billion — $3.3 billion higher than forecast by the Division of the Budget (DOB) in the Amended Executive Budget financial plan released in … totaled $1211 billion $33 billion higher than forecast by the Division of the Budget DOB in the Amended Executive …
https://www.osc.ny.gov/press/releases/2022/04/dinapoli-state-fiscal-year-2021-22-tax-revenues-33-billion-over-final-projectionsDiNapoli: Stable Government Funding Needed for NYC Health + Hospitals to Provide Essential Care
… challenges with supply shortages and emergency room and ICU capacity, particularly at Elmhurst hospital. However, as …
https://www.osc.ny.gov/press/releases/2021/09/dinapoli-stable-government-funding-needed-nyc-health-hospitals-provide-essential-careDiNapoli: Wall St. Profits on Pace to Beat 2016
… Securities industry profits totaled $12.3 billion in the first half of 2017, … Wall St. on pace for a second consecutive year of higher profits, according to a report released today by New York … "After a very successful first six months, Wall Street profits are on track to exceed last year's level, barring a …
https://www.osc.ny.gov/press/releases/2017/10/dinapoli-wall-st-profits-pace-beat-2016DiNapoli Releases April State Cash Report
… "The fiscal year is off to a rocky start. Tax collections for the first month of the fiscal year were nearly $1 billion … from payments made with annual tax returns and requests for filing extensions as well as an increase in refunds. The … $1.1 billion, or 10.9 percent, higher than last year for the same period. Significant increases include spending …
https://www.osc.ny.gov/press/releases/2017/05/dinapoli-releases-april-state-cash-reportNew York's 529 College Savings Program Delivers $287 Million to College Students Since January
… million in college-related expenses this year, New York State Comptroller Thomas P. DiNapoli said today in … program is overseen by DiNapoli’s office and the New York State Higher Education Services Corporation. Qualified … fees and expenses. New York is one of 33 states offering a state tax deduction for contributions to accounts by account …
https://www.osc.ny.gov/press/releases/2016/05/new-yorks-529-college-savings-program-delivers-287-million-college-students-januaryDiNapoli: NYC Put Federal Funds to Work Quickly To Shore Up Budget and Drive Recovery
… funds it received in the wake of the COVID-19 pandemic to replace revenue losses and mitigate negative economic impacts, similar to other major cities in the country, but it has used them at … pace than its peer cities, which leaves less available to address future uncertainties, according to a report …
https://www.osc.ny.gov/press/releases/2022/09/dinapoli-nyc-put-federal-funds-work-quickly-shore-budget-and-drive-recoveryDiNapoli: As NYC Budget Stabilizes, New Risks Emerge
… seekers, which will help balance its $116.9 billion FY 2026 budget, according to a report released today by State … account for just 6.4% ($7.4 billion) of the city’s FY 2026 operating budget, significantly more federal funding … In addition to the $2.34 billion in prepayments for FY 2026, the city added $2 billion in revenue and reduced …
https://www.osc.ny.gov/press/releases/2025/02/dinapoli-nyc-budget-stabilizes-new-risks-emergeTown of Lee – Financial Management (2025M-63)
… [read complete report – pdf] Audit Objective Did the Town of Lee (Town) Town Board (Board) effectively … general and highway funds had a total of $8.3 million in fund balance as of December 31, 2024 ($8 million in the … The Board did not effectively manage the general and highway fund …
https://www.osc.ny.gov/local-government/audits/town/2025/09/12/town-lee-financial-management-2025m-63Enforcement of the Mitchell-Lama Surcharge Provisions (Follow-Up)
… DHCR is several years behind in generating the match between tenants’ self-reported information and their … At the time of our review in 2017, DHCR’s most recent match was for 2012. Further, the Private Housing Finance Law …
https://www.osc.ny.gov/state-agencies/audits/2019/09/06/enforcement-mitchell-lama-surcharge-provisions-followState Agencies Bulletin No. 1761
… of this bulletin is to inform agencies that position pools in PayServ may require updates for SFS lapsing. Overview Certain chart of accounts strings in SFS that are attached to position pools in PayServ will be lapsing and will no longer be available … of this bulletin is to inform agencies that position pools in PayServ may require updates for SFS lapsing …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1761-sfs-chartfield-strings-payserv-09132019-09272019-lapse-datesCUNY Bulletin No. CU-646
… year ending 2018-19 and the fiscal year beginning 2019-20, the PayServ chart of accounts must be updated to reflect the 2019-20 budget references where appropriations and segregations … Lapsing and Fiscal Year End Rollover activities on June 20, 2019 for the paycheck dated July 3, 2019 (Institution). …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/city-university-new-york/cu-646-new-york-state-payroll-system-payserv-cuny-fiscal-year-endCity of Yonkers - Budget Review (B19-6-5)
… of Budget Review The purpose of our budget review was to determine whether the significant revenue and expenditure … reasonable. Background The City of Yonkers is authorized to issue debt not to exceed $45 million to liquidate current deficits in the …
https://www.osc.ny.gov/local-government/audits/city/2019/05/17/city-yonkers-budget-review-b19-6-5SUNY Bulletin No. SU-275
… this time. OSC Payroll will provide the agencies with a list of position pools that will not roll to the 2019-20 … below in Agency Actions). OSC Payroll will also provide a list of position pools that contain lapsing chartfield … Bulletin 1748 ). Agency Actions Agencies should review the list of Department Budget Table USA Rows for positions pools …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-university-new-york/su-275-new-york-state-payroll-system-payserv-suny-fiscal-year-endVillage of Suffern – Budget Review (B19-6-3)
… review was to determine whether the significant revenue and expenditure projections in the Village’s tentative budget for the 2019-20 fiscal year are reasonable. Background The … deficits in the Village’s general, water, sewer and capital projects funds as of May 31, 2015. New York State …
https://www.osc.ny.gov/local-government/audits/village/2019/04/16/village-suffern-budget-review-b19-6-3The 80/20 Housing Program (Follow-Up)
… audit report concluded that, based on the rents charged for our four sampled developments, the proper number of … available to low-income tenants. Our review of the files for a sample of 43 low-income tenants found that, in most … "reasonable judgment" in determining eligibility. However, for 4 of the 43 tenants, we question whether the developers …
https://www.osc.ny.gov/state-agencies/audits/2018/11/13/8020-housing-program-followSignal Maintenance, Inspections, and Testing
… responsible for the maintenance, inspection, and testing (MIT) of the equipment at their assigned section locations. As … has a logbook that Signal Maintainers use to record MIT information (e.g., work performed). When work is … System Safety Program Plan (SSPP), which outlines when MIT is required. NYCT is required to review the SSPP …
https://www.osc.ny.gov/state-agencies/audits/2018/10/17/signal-maintenance-inspections-and-testingSelected Management and Operations Practices (Follow-Up)
… of New York signed into law the ReCharge New York (RNY) power program as part of Chapter 60 (part CC) of the Laws of 2011 (Law). RNY power is to be allocated to businesses and not-for-profits … makes available 910 megawatts (MW) of economic development power, 50 percent to be purchased by the New York Power …
https://www.osc.ny.gov/state-agencies/audits/2018/12/11/selected-management-and-operations-practices-follow