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DiNapoli: Economic and Tax Collection Growth Slowing in New York City
… the five prior fiscal years. The city’s financial plan, updated in June, assumes that collections will grow 1.8 … in FY 2019 and $2.3 billion in FY 2020. DiNapoli’s report notes that the out-year budget gaps are relatively small as a … conditions. The budgets for those years also include a general reserve of $1 billion that could be used to narrow …
https://www.osc.ny.gov/press/releases/2016/08/dinapoli-economic-and-tax-collection-growth-slowing-new-york-cityNYC 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 … New York Citys economy is on pace to add more than 72000 jobs in 2018 and the unemployment rate …
https://www.osc.ny.gov/press/releases/2018/07/nyc-finances-remain-strong-out-year-budget-gaps-have-grownChanges in Federal Policies Pose Significant Risks for New York City's Budget
… it will receive $465 million more in state education aid next year. The city projects business tax collections will … Unless business tax collections improve, even the revised forecast for FY 2018 is unlikely to be met. Any additional …
https://www.osc.ny.gov/press/releases/2017/12/changes-federal-policies-pose-significant-risks-new-york-citys-budgetDiNapoli: Report Warns of Growing State Debt
… the following four years to $71.8 billion, according to a report issued today by New York State Comptroller Thomas P. … state's current five-year capital plan period. DiNapoli's report notes: New York's current debt total is second only to … plan to guide the five-year Capital Plan. Read the report , or go to: …
https://www.osc.ny.gov/press/releases/2017/12/dinapoli-report-warns-growing-state-debtDiNapoli: Environmental Protection Fund Spending Reflects Historic State Commitment
… funding sources for preserving open space, protecting water quality and improving parks and waterfronts, are at an … Real Estate Transfer Tax (RETT); a portion of unclaimed bottle and can deposits; certain penalties collected for … farm, municipal and nonprofit initiatives to reduce water pollution and otherwise improve the quality of water …
https://www.osc.ny.gov/press/releases/2018/03/dinapoli-environmental-protection-fund-spending-reflects-historic-state-commitmentState Comptroller DiNapoli Releases Audits
… and starting services, is critical to ensure that students reap the benefits of special education instruction and … into disrepair, in some cases posing critical health and safety issues. The City responded with a marked increase in …
https://www.osc.ny.gov/press/releases/2023/03/state-comptroller-dinapoli-releases-auditsOpinion 90-24
… the board's power to hire bond counsel. 12 Opns St Comp, 1956, p 68 is hereby superseded. You have asked whether 12 Opns St Comp, 1956, p 68 still represents the views of this Office. … by a municipal governing board (see, e.g., 1986 Opns St Comp 86-31, p 52). We have also recognized, however, that a …
https://www.osc.ny.gov/legal-opinions/opinion-90-24DiNapoli: Audits Find Certain IDAs Lack Job Creation Data
… Comptroller Thomas P. DiNapoli have revealed a number of local Industrial Development Agencies (IDAs) do not verify if businesses receiving tax breaks are actually … companies that fail to reach specific benchmarks because of inadequate contract agreements. DiNapoli’s office audited …
https://www.osc.ny.gov/press/releases/2015/04/dinapoli-audits-find-certain-idas-lack-job-creation-dataDiNapoli: Fairport Audits Reveal Unauthorized Practices for Economic Development Agencies
… granting $1 million worth of inappropriate gifts and commercial loans, according to an audit released today by … of a project. FIDA granted two additional unauthorized commercial loans of approximately $187,000. Questionable … expenses and not those of other entities; Cease making commercial loans directly or through the FLDC using FIDA …
https://www.osc.ny.gov/press/releases/2016/03/dinapoli-fairport-audits-reveal-unauthorized-practices-economic-development-agenciesAudit of ESDC Finds Few Measurable Results for $211 Million State Advertising Contract
… State Development Corporation (ESDC) spent $211 million on an advertising contract to promote economic development … Auditors calculated that ESDC spent more than $25,000 on advertising for each of the promised jobs. Auditors also … of outreach efforts. Auditors also noted that spending on advertising did not produce the outcome of increasing the …
https://www.osc.ny.gov/press/releases/2015/05/audit-esdc-finds-few-measurable-results-211-million-state-advertising-contractState Comptroller DiNapoli Releases Municipal & School Audits
… collections or maintain inventory records for the beverage events. As a result, there is a substantial risk that not all … totaling $324,934 primarily for routine anticipated events. Hannibal Fire Company – Misappropriation of Funds …
https://www.osc.ny.gov/press/releases/2023/07/state-comptroller-dinapoli-releases-municipal-school-audits-1Investors Reach Settlement with Wynn Resorts
… of Wynn Resorts Ltd. claiming they failed to protect the company and employees from former CEO Steve Wynn’s alleged … passivity perpetuated it. There must be zero tolerance for this kind of behavior, and this agreement is a major step … board will require directors who want to sell Wynn Resorts stock to do so through a 10b5-1 plan. The 10b5-1 plan …
https://www.osc.ny.gov/press/releases/2019/11/investors-reach-settlement-wynn-resortsState Comptroller DiNapoli and Department of Financial Services Superintendent Harris Designate New Banking Development District Branch To Support Community Banking in Red Hook
… Comptroller’s office makes public deposits available to banks and credit unions to open or maintain a bank branch. … state's Banking Development District program helps bring banks where they are desperately needed and invests in their … Adrienne A Harris today announced the approval of Spring Banks Red Hook Branch as a Banking Development District BDD …
https://www.osc.ny.gov/press/releases/2025/03/state-comptroller-dinapoli-and-department-financial-services-superintendent-harris-designate-newEast Ramapo Central School District – Budget Review (B25-5-2)
… our budget review was to determine whether the significant revenue and expenditure projections in the District’s adopted … The 2024-25 adopted budget did not include any revenue for interest and earnings. We project the District … could potentially receive $4.7 million in unbudgeted revenue. The budget included the rental of property revenues …
https://www.osc.ny.gov/local-government/audits/school-district/2025/04/03/east-ramapo-central-school-district-budget-review-b25-5-2XIV.4.C Bank Account Reporting and Reconciliations – XIV. Special Procedures
… statement of all balance(s) on deposit in any bank account under the administrative control of any state officer … of the New York State Register to ensure that all bank account and financial institution names are correctly shown. Updates to bank account information should be immediately reported to the …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xiv/xiv4c-bank-account-reporting-and-reconciliationsHousing Trust Fund Corporation: Internal Controls Over and Maximization of Federal Funding for Community Development Block Grant & HOME Investment Partnerships Programs (2021-S-10)
To determine whether Homes and Community Renewal has established and maintains adequate internal controls to oversee and monitor the federally funded Community Development Block Grant program and HOME Investment Partnerships Program to ensure they meet requirements, and whether ...
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2022-21s10.pdfDiNapoli: New York City's Tech Sector Is Booming
… located in New York City. The State Comptroller and Mayor de Blasio discussed the report during a tour of Maven, a … more New Yorkers to the opportunities in tech," said de Blasio. "Today's jobs report demonstrates just how … to fully recover from the 2008 financial crisis. Mayor de Blasio recently launched New York Works, a jobs plan that …
https://www.osc.ny.gov/press/releases/2017/09/dinapoli-new-york-citys-tech-sector-boomingDiNapoli: Monroe County Failed to Monitor Contractor Operating Golf Courses, Costing Taxpayers
… Thomas P. DiNapoli. “Monroe County’s failure to oversee this contract has cost county taxpayers a bundle and left the …
https://www.osc.ny.gov/press/releases/2014/08/dinapoli-monroe-county-failed-monitor-contractor-operating-golf-courses-costing-taxpayersComptroller DiNapoli Releases Municipal Audits
… DiNapoli. "By auditing municipal finances and operations, my office continues to provide taxpayers the assurance that their money is being … plans to improve the budget development process. ### For access to state and local government spending and nearly …
https://www.osc.ny.gov/press/releases/2014/04/comptroller-dinapoli-releases-municipal-audits-0DiNapoli: Shift in MTA's Paratransit Program Generates Cost Savings
… Costs for the Metropolitan Transportation Authority’s (MTA) program to provide transportation services for people with disabilities have declined in recent … Costs for the Metropolitan Transportation Authoritys MTA program to provide transportation services for people with disabilities have …
https://www.osc.ny.gov/press/releases/2023/11/dinapoli-shift-mtas-paratransit-program-generates-cost-savings