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DiNapoli: NYC Remains on Solid Ground but Budget Risks Need to be Managed
… surplus of $2.6 billion in the current fiscal year, ending on June 30, which will be used to balance the 2019 budget, … Thomas P. DiNapoli. "New York City’s finances look to be on solid ground, with a strong economy, a balanced budget and … percent in 2017, the lowest level in 41 years. The city is on pace for continued job gains in 2018, although growth is …
https://www.osc.ny.gov/press/releases/2018/03/dinapoli-nyc-remains-solid-ground-budget-risks-need-be-managedWall Street Profits for 2014 May Not Reach 2013 Level
… City. DiNapoli estimates that the securities industry is 15 percent smaller in New York City than before the financial … bonus payments deferred from prior years) rose by 15 percent in 2013 to $164,530, the highest average bonus … tax revenue for New York City in its 2014 fiscal year, or 6.7 percent of all city tax revenue. New York State collected …
https://www.osc.ny.gov/press/releases/2014/10/wall-street-profits-2014-may-not-reach-2013-levelDiNapoli: Capital Planning Problems Persist at NYRA
… long-term and short-term capital project planning, but my auditors discovered that NYRA’s planning was weak,” … from bankruptcy protection needs to do a much better job of minding its finances and seeing to its most pressing … in return for a financial assistance package. As part of this package, the state forgave nearly all of NYRA’s debt …
https://www.osc.ny.gov/press/releases/2015/10/dinapoli-capital-planning-problems-persist-nyraDiNapoli: New York State Gets 91 Cents for Every Dollar Sent to Washington
… For every dollar New York sends to Washington D.C., it receives about 91 cents back in federal spending – compared to a national average of nearly $1.22, according to a report released today by …
https://www.osc.ny.gov/press/releases/2015/10/dinapoli-new-york-state-gets-91-cents-every-dollar-sent-washingtonDiNapoli: OTDA Needs to Improve Oversight of Services Provided to Those in Homeless Shelters
… “Thousands of New Yorkers, many of them in need of mental health care or drug addiction services, are in desperate need … and families, including case management, access to health care, treatment for substance abuse, childcare … abuse services (46%). Five of 19 cases requiring mental health services (26%). Two of 13 cases requiring multiple …
https://www.osc.ny.gov/press/releases/2023/08/dinapoli-otda-needs-improve-oversight-services-provided-those-homeless-sheltersOpinion 92-47
… and investment of E911 surcharge moneys) MUNICIPAL FUNDS -- Accounting (crediting interest earned on investment … required by State or local legislation, moneys in various funds held by a municipality may be deposited in a single … Law, §9-a, relative to inter-fund advances between funds raised from different tax bases), it follows that …
https://www.osc.ny.gov/legal-opinions/opinion-92-47Opinion 96-7
… subsequent court cases or statutory amendments that bear on the issues discussed in the opinion. FIRE DISTRICTS -- Powers and Duties … of apportioning costs under cooperation agreement) TOWN LAW, §§176(10), 176-b; GENERAL MUNICIPAL LAW, §119-o: Several …
https://www.osc.ny.gov/legal-opinions/opinion-96-7DiNapoli: Medicaid Redesign Presents Opportunities and Risks
… said. “A federal waiver may bring as much as $8 billion in additional aid as an incentive to drive further reforms. … However, failure to meet key benchmarks would result in a loss of significant potential federal funding. That … state to increase its own spending on the program or rein in Medicaid costs in ways that have been largely avoided in …
https://www.osc.ny.gov/press/releases/2015/03/dinapoli-medicaid-redesign-presents-opportunities-and-risksDiNapoli: MTA Budget Outlook Improves
… financial footing than seven months ago with $1.9 billion in unanticipated resources now expected to be available over … total of $240 million from $638 million. The $1.9 billion in unanticipated resources during the financial plan period … MTA plans to raise fares and tolls again by 7.5 percent in 2015 and by another 7.5 percent in 2017 -- more than twice …
https://www.osc.ny.gov/press/releases/2013/09/dinapoli-mta-budget-outlook-improvesLocal Government – 2021 Financial Condition Report
… property taxes remain the single largest source of local government revenue in the State, accounting for $36.6 billion, or 43 percent, of the …
https://www.osc.ny.gov/reports/finance/2021-fcr/local-governmentDiNapoli: MTA Budget Continues to Face Serious Risks
… by the MTA more than tripled between 2000 and 2019, rising from $11.4 billion to $35.4 billion. The MTA expects debt … billion cost. While it is the largest capital program in the MTA’s history (costing 62 percent more than the … the 2020-2024 capital program and projects remaining from prior programs in five years, the MTA will need to more …
https://www.osc.ny.gov/press/releases/2020/03/dinapoli-mta-budget-continues-face-serious-risksDiNapoli: NYC Projects $3 Billion Surplus for 2015, Balanced Budget Next Year
… New York City is projecting a surplus of $3 billion for fiscal year (FY) 2015 and a balanced budget for FY 2016 with relatively small gaps in the following three … statutory minimum and the largest ever. The city has also set aside $500 million in FY 2016 to fund a Capital …
https://www.osc.ny.gov/press/releases/2015/06/dinapoli-nyc-projects-3-billion-surplus-2015-balanced-budget-next-yearMitchell Lama Applicants Charged $200 for Virtually No Chance of Apartment in Their Lifetime
… to collect $200 fees from applicants who had virtually no chance of getting an apartment in their lifetime, an audit … the problems we’ve found. Collecting fees with virtually no chance for an apartment gives applicants false hope and … waiting for more than 20 years with many having little or no chance of getting an apartment. Given that there are 93 …
https://www.osc.ny.gov/press/releases/2019/12/mitchell-lama-applicants-charged-200-virtually-no-chance-apartment-their-lifetimeOpinion 91-44
… This opinion represents the views of the Office of the State Comptroller at the time it was rendered. The opinion … insurance plan. October 16, 1991 Richard T. Nolan, Esq. Mt. Sinai Fire District … Whether a member of the board of …
https://www.osc.ny.gov/legal-opinions/opinion-91-44Opinion 2003-1
… Pursuant to Town Law §202(5), the cost of an extension to a town water district is charged against only properties … the town board. You ask whether the cost of an improvement for an extension to an existing town water district is borne … which relates to the expense of maintaining improvements, does not contain a provision similar to that in section …
https://www.osc.ny.gov/legal-opinions/opinion-2003-1Opinion 94-28
… views of the Office of the State Comptroller at the time it was rendered. The opinion may no longer represent those views if, among other things, there have been subsequent court cases or statutory amendments that … fund. However, to the extent that the advance planning is undertaken for purposes of an existing improvement …
https://www.osc.ny.gov/legal-opinions/opinion-94-28Opinion 90-31
… or statutory amendments that bear on the issues discussed in the opinion. PUBLIC MEETINGS AND HEARINGS -- Voting … Law, §353-a authorizes, inter alia , two or more towns in the same or adjoining counties, jointly, to acquire real … action must establish a committee composed of a member from each town board. The committee is empowered to acquire …
https://www.osc.ny.gov/legal-opinions/opinion-90-31Opinion 88-59
… subsequent court cases or statutory amendments that bear on the issues discussed in the opinion. PUBLIC OFFICERS AND EMPLOYEES -- Compensation … during term) STATE CONSTITUTION, ARTICLE VIII, §1; VILLAGE LAW, §§3-300(3), 3-301(2), (3), 5-506(1)(f), 5-508(4), …
https://www.osc.ny.gov/legal-opinions/opinion-88-59Opinion 93-28
… Local Highway Assistance ("CHIPs") moneys appropriated by the town board for the repair and improvement of highways … board and town highway superintendent which is required by section 284 of the Highway Law. Section 10-c of the … town board and the highway superintendent to determine, by agreement, how certain moneys for highway repairs and …
https://www.osc.ny.gov/legal-opinions/opinion-93-28Opinion 2006-9
… dissolution of the town district (Town Law §198[12][d]; 15 Opns St Comp, 1959, p 396). Section 198(12)(b) expressly …
https://www.osc.ny.gov/legal-opinions/opinion-2006-9