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Opinion 93-8
… what events will cause the municipality to pay the higher rates and what procedures or indices will be used to compute … bonds or notes, on or before June 30, 1994, "with interest rates that vary in accordance with a formula or procedure ... … may exclude variable rate debt which bears interest at rates and for periods specified at the time of issuance. …
https://www.osc.ny.gov/legal-opinions/opinion-93-8DiNapoli: NYC Budget Faces Uncertainty Without More Federal Relief
… if the federal government does not deliver direct aid to state and local governments soon, according to a budget analysis released today by State Comptroller Thomas P. DiNapoli. “The city’s budget this … DiNapoli said. “Senator Schumer and the New York state congressional delegation deserve praise for passing a …
https://www.osc.ny.gov/press/releases/2020/12/dinapoli-nyc-budget-faces-uncertainty-without-more-federal-reliefExistential Questions Facing National Public Transit Systems Create New Fiscal Pressures for MTA
… bus, and commuter railroad services. The pandemic led to a dramatic drop in riders – and ridership revenue – for … the continued provision of service is especially critical to the economic health of New York City and its residents. … More than half of City residents used public transit to commute to work in 2019. The New York City metro area also …
https://www.osc.ny.gov/reports/osdc/existential-questions-facing-national-public-transit-systems-create-new-fiscal-pressures-mtaDiNapoli: NYC Facing Larger Budget Gaps Amid Slowing Economic Growth and Rising Costs
… Uncertainty from Washington New York City modified its FY 2026 budget to $118.2 billion, $2.3 billion higher than at … adoption. However, this total excludes $3.8 billion of FY 2026 expenses that were prepaid in FY 2025. After adjusting … $122 billion in FY 2025. While the plan shows that FY 2026 remains balanced, the city did not take significant …
https://www.osc.ny.gov/press/releases/2025/12/dinapoli-nyc-facing-larger-budget-gaps-amid-slowing-economic-growth-and-rising-costsState Agencies Bulletin No. 2239
… in Benefits>Suspense Page) Verify the ORP/VDC Retirement Election Date: Agencies must verify the employee’s election date from their ORP/VDC Savings Plans page … instructions for using the calculator and submitting the results to OSC for review. Both tools can be found on the …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2239-calculating-projected-366-day-completion-date-andor-projected-7-yearInvestors: Exxon Needs to Step Up on Climate Change
… including equities, real estate and alternative investment strategies. The Commissioners' work supports the Church of …
https://www.osc.ny.gov/press/releases/2017/05/investors-exxon-needs-step-climate-changeAccounting and Financial Reporting for Leases as Required by GASB Statement No. 87
This bulletin provides accounting and financial reporting guidance related to those contracts that meet the definition of a lease, and illustrates how local governments, and school districts will need to account and report these leases in their annual update document (AUD) and the ST-3.
https://www.osc.ny.gov/files/local-government/publications/pdf/accounting-and-financial-reporting-for-leases-required-by-gasb-87.pdfAccounting and Financial Reporting for Subscription-Based Information Technology Arrangements (SBITAs) as Required by GASB Statement No. 96
The purpose of this bulletin is to provide accounting and financial reporting guidance for subscription-based information technology arrangements (SBITAs) and illustrate how local governments and school districts will need to account for and report these SBITAs in the Annual Financial Report (AFR)
https://www.osc.ny.gov/files/local-government/publications/pdf/accounting-bulletin-gasb-96.pdfUnderstanding the Budget Process
This session will explain the budget process, the procedures that should be used in preparing the budget and the resources and tools available to assist with budget development. It will also address the options for amending the budget and monitoring the budget.
https://www.osc.ny.gov/files/local-government/academy/pdf/understanding-the-budget-process-060723.pdfEPI- Employment Recovery Is Slow for New Yorkers with Disabilities
People living with disabilities face unique daily challenges that can present barriers to employment. The COVID-19 pandemic led to soaring unemployment rates for people with disabilities, and these rates have not declined as quickly in New York as they have nationally.
https://www.osc.ny.gov/files/reports/pdf/disabilities-employment-recovery.pdfPhysical and Financial Conditions at Selected Mitchell-Lama Developments (2023-N-2) 180-Day Response
To determine whether Mitchell-Lama developments supervised by the New York City Department of Housing Preservation and Development are being maintained in a manner that protects the health and safety of residents, and whether funds at these developments are being used for intended purposes.
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2024-23n2-response.pdfReal Property Portfolio (2022-S-14) 180-Day Response
To determine whether Empire State Development (ESD) fully and accurately accounted for and reported on its real property holdings and the need to either hold or dispose of properties, and if ESD disposed of real property in a manner beneficial to the State.
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2024-22s14-response.pdfHomes and Community Renewal: Housing Trust Fund Corporation: Oversight of the Rural Rental Assistance Program (2023-S-53)
To determine whether project owners are receiving Rural Rental Assistance Program payments only for eligible units and are properly maintaining the units for which they receive RRAP payments, and whether the Housing Trust Fund Corporation is engaging in adequate outreach activities to ...
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2024-23s53.pdfPhysical and Financial Conditions at Selected Mitchell-Lama Developments (2023-N-2)
To determine whether Mitchell-Lama developments supervised by the New York City Department of Housing Preservation and Development are being maintained in a manner that protects the health and safety of residents, and whether funds at these developments are being used for intended purposes.
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2024-23n2.pdfUpdate on New York City Staffing Trends
New York City employs the largest municipal workforce in the United States. Prior to the pandemic, the City government (which, unlike many local governments, includes its schools), employed about 300,400 full-time employees, an increase of 33,023 employees since City fiscal year (FY) 2012.
https://www.osc.ny.gov/files/reports/osdc/pdf/report-13-2023.pdfOversight of New York State Forest Tax Programs (2020-S-51)
To determine if the Department of Environmental Conservation is adequately monitoring the 480/480a private forest programs to ensure forest land is appropriately enrolled and landowners are adhering to requirements to assist in the protection of the environmental benefits of the State's forest ...
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2022-20s51.pdfSupplemental Report on the State Fiscal Year 2022-23 Executive Budget (As Amended by the Governor)
This report details provisions of the New York State Fiscal Year 2022-23 Executive Budget proposal, as amended, and is a supplement to the Office of the State Comptroller’s “New York State Fiscal Year 2022-23 Executive Budget Review” that was published in February 2022.
https://www.osc.ny.gov/files/reports/budget/pdf/executive-budget-report-2022-23.pdfAnnual Report on Local Governments for FYE 2020
This Annual Report on Local Governments provides a summary analysis of the financial state of the local governments outside of New York City for local fiscal years ending in 2020. It highlights the unique challenges that local officials faced from the COVID-19 pandemic.
https://www.osc.ny.gov/files/local-government/publications/pdf/annual-report-on-local-governments-for-fye-2020.pdfReview of the Financial Plan of the City of New York, December 2021
On November 30, 2021, the City released its seventh budgetary update since the COVID-19 pandemic began, its modified November 2021 financial plan. The City’s finances have experienced considerable fluctuation throughout this time, fueled by volatility in everything from employment to federal aid.
https://www.osc.ny.gov/files/reports/osdc/pdf/report-16-2022.pdfCompliance With Executive Order 95 (Open Data) (2020-S-11) 180-Day Response
To determine whether the Department of Environmental Conservation is complying with Executive Order 95 (EO 95), including providing, in a timely manner, publishable State data to the Office of Information Technology Services, and whether data posted under EO 95 is reliable and easily usable.
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2021-20s11-response.pdf