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DiNapoli: External Risks Threaten NYC Budget
… risks, it has record reserves to use if needed and Mayor de Blasio plans to expand the citywide savings program to … Trust, which now has a balance of $4 billion. Mayor de Blasio has indicated that the city will continue to expand …
https://www.osc.ny.gov/press/releases/2017/03/dinapoli-external-risks-threaten-nyc-budgetNew York City Tourism Industry Hit Hard by Pandemic, Visitor Spending Drops by 73%
… prior year, which will cost the city $1.2 billion in lost tax revenues in City Fiscal Year (CFY) 2021. “The tourism … for agencies designed to coordinate such activities (i.e., NYC & Company). Target domestic leisure travelers in the … business travelers in the long-term, as they spend more on average than their counterparts. Accelerate airport …
https://www.osc.ny.gov/press/releases/2021/04/new-york-city-tourism-industry-hit-hard-pandemic-visitor-spending-drops-73DiNapoli: NYC Budget Benefits From Stronger Economy
… with each year,” DiNapoli said. “To his credit, Mayor de Blasio has taken steps to increase the city’s reserves, … in FY 2015 and by a similar amount in FY 2016. Mayor de Blasio has also proposed increasing the city’s ten-year …
https://www.osc.ny.gov/press/releases/2015/03/dinapoli-nyc-budget-benefits-stronger-economyDiNapoli: NYC's Finances Benefiting From Better Than Expected Revenues
… could limit the city’s potential revenue upside and make it harder to continue to fund recent spending additions … recurring underbudgeted expenses, including costs the city does not have unilateral control over – such as public … reliant on federal support and may require the city to make difficult choices about these services in the coming …
https://www.osc.ny.gov/press/releases/2025/06/dinapoli-nycs-finances-benefiting-better-expected-revenuesCity of Norwich - Capital Planning (2019M-88)
Determine whether City officials are properly planning for capital needs.
https://www.osc.ny.gov/files/local-government/audits/pdf/norwich-2019-88.pdfThe Restaurant Industry in New York City: Tracking the Recovery
The Restaurant Industry in New York City: Tracking the Recovery
https://www.osc.ny.gov/files/reports/osdc/pdf/nyc-restaurant-industry-final.pdfPine City Volunteer Fire Department, Inc. – Financial Activities (2017M-140)
Pine City Volunteer Fire Department, Inc. – Financial Activities (2017M-140)
https://www.osc.ny.gov/files/local-government/audits/pdf/lgsa-audit-fire-2017-pine-city.pdfSalamanca City School District – Financial Management and Payroll (2017M-138)
Salamanca City School District – Financial Management and Payroll (2017M-138)
https://www.osc.ny.gov/files/local-government/audits/pdf/lgsa-audit-school-2018-salamanca.pdfThe Paycheck Protection Program in New York City: What's Next?
The Paycheck Protection Program in New York City: What's Next?
https://www.osc.ny.gov/files/reports/osdc/pdf/report-10-2021.pdfDiNapoli: Young People in NYC Still Face Double-Digit Unemployment
… Comptroller Thomas P. DiNapoli. Unemployment among 16- to 24-year-olds stands at nearly 18% in the city, as compared to … career opportunities for young job seekers or the city’s economic recovery will be stifled even further,” DiNapoli … impact on young people of color and young men.” DiNapoli’s report found unemployment rates among young people in the …
https://www.osc.ny.gov/press/releases/2022/12/dinapoli-young-people-nyc-still-face-double-digit-unemploymentDiNapoli: Surge in Tourism Bolsters NYC Hotel Industry
… The number of hotel rooms in New York City increased by 48 percent between … issued today by State Comptroller Thomas P. DiNapoli. "The hotel industry is flourishing. A record number of tourists … long-term prospects remain strong." With more than 210,000 hotel rooms, New York is the fourth-largest hotel market of …
https://www.osc.ny.gov/press/releases/2016/06/dinapoli-surge-tourism-bolsters-nyc-hotel-industryDiNapoli: Some Bright Spots for NYC Finances in FY21, but Long-Term Challenges Looming
… The city’s unemployment rate in December was 11.4 percent, down from a peak of 20.3 percent in June. However, the rate … source at 46 percent of city-funded revenue, adjusted down by $2.5 billion. They are not expected to return to … municipal unions, a budget risk. The city has also drawn down $1.15 billion in contingent reserves to attain balance …
https://www.osc.ny.gov/press/releases/2021/02/dinapoli-some-bright-spots-nyc-finances-fy21-long-term-challenges-loomingDiNapoli: NYC Forecasts $965 Million Surplus Fueled by Federal Aid
… aid, and projects outyear gaps to drop by nearly a third from earlier estimates, according to a report released today … challenges and new spending obligations. Fixing the damage from COVID-19 will take time, and efforts to boost the … Outyear gaps, which averaged $4 billion annually from FY 2023 through FY 2025 in the adopted budget in June …
https://www.osc.ny.gov/press/releases/2021/12/dinapoli-nyc-forecasts-965-million-surplus-fueled-federal-aidDiNapoli: NYC Tourism Approaches Full Recovery, Still Top Major U.S. Tourist Destination
… New York’s tourism sector is approaching a complete recovery as visitor spending and related tax … private sector wages. DiNapoli’s report notes that major upcoming events, including the 2026 FIFA World Cup Final, New York … New Yorks tourism sector is approaching a complete recovery as visitor spending and related tax …
https://www.osc.ny.gov/press/releases/2024/05/dinapoli-nyc-tourism-approaches-full-recovery-still-top-major-us-tourist-destinationDiNapoli: Mount Vernon Officials Failed to Establish Basic and Routine Financial Policies
… The City Council of Mount Vernon did not have adequate financial … for the effective management and fiscal oversight of city operations because officials failed to file annual … DiNapoli’s office for fiscal years 2016 through 2019. The city council did not take sufficient action to acquire …
https://www.osc.ny.gov/press/releases/2020/09/dinapoli-mount-vernon-officials-failed-establish-basic-and-routine-financial-policiesNYS Comptroller DiNapoli: Wall Street Profits and Bonuses Up Sharply in 2017
… past two years demonstrates that the industry can prosper with the regulations and consumer protections adopted after … level since 2010, driven by higher revenue. After adding jobs for three consecutive years, employment in New York … assumes that statewide bonuses for the broader finance and insurance sector will increase by 4 percent. The actual …
https://www.osc.ny.gov/press/releases/2018/03/nys-comptroller-dinapoli-wall-street-profits-and-bonuses-sharply-2017DiNapoli: NYC Finances Stabilizing With Drop in Costs for Asylum Seekers and Resilient Tax Revenue
… Authority, now stand at an average of $6.4 billion, down from the $10.4 billion forecast in August. The State … which could create fiscal pressure that could be pushed down to localities. National economic policy changes may also … spending in FY 2025 (adjusted for surplus transfers), down from 1.8% in FY 2023. Overall attrition in the city’s …
https://www.osc.ny.gov/press/releases/2024/12/dinapoli-nyc-finances-stabilizing-drop-costs-asylum-seekers-and-resilient-tax-revenueDiNapoli: NYC Finances Gain Stronger Footing
… resources to avoid the need to achieve $1.27 billion in labor savings through FY 2022. While it still anticipates $1 billion in recurring labor savings in subsequent years, it has yet to reach a … agreement with the municipal unions to generate recurring labor savings. The city lowered its forecast for sales and …
https://www.osc.ny.gov/press/releases/2021/06/dinapoli-nyc-finances-gain-stronger-footingDiNapoli Urges NYC to Continue to Prepare for Shifting Fiscal Landscape
… Total revenue for New York City’s budget is expected to drop by 9.4% to … risks means the city should continue to identify areas for savings, track how its services are delivered amid … in FY 2023. City funds are projected to account for 73% of total revenues, or $73.3 billion, in FY 2023. The city also …
https://www.osc.ny.gov/press/releases/2022/08/dinapoli-urges-nyc-continue-prepare-shifting-fiscal-landscapeDiNapoli: Rise in NYC Metro Area Housing Costs Outpaces Other U.S. Cities
… increase among selected major metropolitan areas in the US according to a new report from New York State Comptroller …
https://www.osc.ny.gov/press/releases/2024/01/dinapoli-rise-nyc-metro-area-housing-costs-outpaces-other-us-cities