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DiNapoli: Tax Revenues in February $758 Million Over Budget Projections
… through February were $758.4 million higher than forecast in the most recent Division of the Budget (DOB) update to the … DiNapoli said. “While these resources will be helpful in the state’s ongoing recovery effort, it is important to … and think long-term, as challenges remain.” Tax revenues in the month of February totaled $7 billion, $1.8 billion …
https://www.osc.ny.gov/press/releases/2021/03/dinapoli-tax-revenues-february-758-million-over-budget-projectionsDiNapoli: Local Sales Taxes Jump 49.2 Percent in Second Quarter
… of the pandemic. “The strength of these collections, along with federal aid, will give local governments statewide the … reflect a combination of pent-up consumer demand, along with purchases tied to recent spikes in home sales. In … combination of more online shopping during the pandemic with the state’s ability to capture taxes from a wider array …
https://www.osc.ny.gov/press/releases/2021/07/dinapoli-local-sales-taxes-jump-49-point-2-percent-second-quarterDiNapoli: Local Tax Cap Will Be Two Percent in 2022
… to 2% for a third time in four years for local governments with calendar fiscal years," DiNapoli said. "As the economy … increases to the lesser of the rate of inflation or 2% with certain exceptions, including a provision that allows … year is the third time since 2019 that municipalities with a calendar year fiscal year (Jan. 1 through Dec. 31) had …
https://www.osc.ny.gov/press/releases/2021/07/dinapoli-local-tax-cap-will-be-two-percent-2022NYC Surplus Projected to Reach $550 Million in FY 2020
… Thomas P. DiNapoli. “New York City’s economy is thriving with historically low unemployment, strong Wall Street …
https://www.osc.ny.gov/press/releases/2019/12/nyc-surplus-projected-reach-550-million-fy-2020Minds in Motion, Inc. – Compliance With the Reimbursable Cost Manual
… Objective To determine whether the costs reported by Minds in Motion, Inc. (MIM) on its Consolidated Fiscal Reports … for-profit special education provider located in Newburgh. MIM provides preschool special education … the fiscal year ended June 30, 2015, MIM reported $571,094 in reimbursable costs for the one rate-based preschool …
https://www.osc.ny.gov/state-agencies/audits/2019/12/31/minds-motion-inc-compliance-reimbursable-cost-manualHomeless Outreach Services in the New York City Subway System
… and monitoring controls over homeless outreach services in the New York City subway system and whether they have met their goal in reducing the number of homeless individuals in the subway system through placements. The audit covers the …
https://www.osc.ny.gov/state-agencies/audits/2020/01/16/homeless-outreach-services-new-york-city-subway-systemOversight of Resident Care-Related Medical Equipment in Nursing Homes (Follow-Up)
… of implementation of the three recommendations included in our initial audit report Oversight of Resident Care-Related Medical Equipment in Nursing Homes (Report 2016-S-80 ). About the Program … medical equipment. The Department oversees nursing homes in the State through its Division of Nursing Homes and …
https://www.osc.ny.gov/state-agencies/audits/2019/11/18/oversight-resident-care-related-medical-equipment-nursing-homes-followNew York’s Economy and Finances in the COVID-19 Era
… for the State of $75,367. Retail trade, another sector with comparatively low wages, lost 93,000 jobs, one in every … categories shown in the table below, jobs in sectors with average wages below the overall State average made up 77 … provided by traditional unemployment insurance, along with additional unemployment benefits and direct payments to …
https://www.osc.ny.gov/reports/covid-19-september-30-2020DiNapoli: Local Sales Tax Collections Down 7.8 Percent in August
… DiNapoli said. "Washington needs to stop playing political games and provide financial help to local governments to … from 1.3 percent in Tioga to 35.5 percent in Delaware. New York City had a 7.1 percent decline, a $43.9 million … of the pandemic’s effects (starting in March, when only New York City was showing losses, and continuing through …
https://www.osc.ny.gov/press/releases/2020/09/dinapoli-local-sales-tax-collections-down-78-percent-augustNew York’s Economy and Finances in the COVID-19 Era
… percent of New York households provided a self-response online, by phone, or by mail, lagging the national figure of …
https://www.osc.ny.gov/reports/covid-19-september-16-2020New York’s Economy and Finances in the COVID-19 Era
… The State Comptroller’s office is committed to keeping New Yorkers regularly updated on the state’s economy and … Economic Trends Paycheck Protection Program Helps 72% of New York Small Businesses Program Must Boost Aid to … Due to facility closures in response to the pandemic, video lottery terminal (VLT) receipts were less than $1 …
https://www.osc.ny.gov/reports/covid-19-august-5-2020New York’s Economy and Finances in the COVID-19 Era
… which includes the General Fund as well as certain other funds, totaled $19.7 billion as of June 30. Major factors …
https://www.osc.ny.gov/reports/covid-19-july-22-2020New York’s Economy and Finances in the COVID-19 Era
… pandemic dealt a body blow to the State’s economy, with combined losses in March and April wiping out 24 years … two months, were: Long Island – 296,000 jobs lost, with 29.4 percent (87,000) recovered through June. Hudson Valley region – 185,000 lost, with 24.6 percent (45,500) recovered. Upstate – 519,000 lost, …
https://www.osc.ny.gov/reports/covid-19-august-19-2020DiNapoli: Local Sales Tax Collections Drop 8.2 Percent in July
… Sales tax revenue for local governments in July fell 8.2 percent compared to the same period last … over the same month in the prior year. “New York’s local governments continue to see a significant downturn in …
https://www.osc.ny.gov/press/releases/2020/08/dinapoli-local-sales-tax-collections-drop-82-percent-julyNew York’s Economy and Finances in the COVID-19 Era
… only 35 percent of the record-breaking loss of 1.9 million in March and April. As the Office of the State … of Change in GDP Accommodation and food services 16.4% Health care and social assistance 12.5% Arts, … quarter of the COVID-19 public health emergency. The FY 2021 First Quarterly Update to the State’s Financial Plan, …
https://www.osc.ny.gov/reports/covid-19-october-14-2020New York’s Economy and Finances in the COVID-19 Era
… of lost jobs. 53% of New York adults age 18 and over live in households that have lost employment income since … Data For example, while 10 percent of all U.S. adults live in households reporting not having enough to eat in the … In the wake of COVID19 more than half of adult New Yorkers live in households that have lost employment income …
https://www.osc.ny.gov/reports/covid-19-july-9-2020New York’s Economy and Finances in the COVID-19 Era
… as shown in the map below. New Jersey led the nation with a 4.4 percentage point decline. Unfortunately, a deeper …
https://www.osc.ny.gov/reports/covid-19-october-28-2020DiNapoli: Wall St. Profits Soared in First Half of 2020
… Wild market swings drove trading volume upward along with firms’ commissions and trading income. Firms’ income … highest employment level since the 2008 financial crisis with 182,100 jobs. Immigrants made up over one-third of … for 2019 was $164,100, up 3 percent from 2018, and in line with last year’s increased profits. In the first half of …
https://www.osc.ny.gov/press/releases/2020/10/dinapoli-wall-st-profits-soared-first-half-2020New York’s Economy and Finances in the COVID-19 Era
… Lingering Economic Pain The economic outlook contained in the Governor’s Executive Budget proposal for State Fiscal … domestic product is projected to increase by 4.4 percent in calendar year 2021 after an estimated decline of 3.4 percent in 2020, according to the Division of the Budget (DOB). While …
https://www.osc.ny.gov/reports/covid-19-january-21-2021DiNapoli: Paycheck Protection Program in NYC Stumbled, but Finding Footing
… and the least likely to have existing relationships with large banks. Many major lenders only accepted applications for the PPP program from customers with existing accounts. While most PPP loan records did not … Queens, only Sunnyside and Woodside surpassed the average, with 9.3 percent of businesses receiving loans in Phase One. …
https://www.osc.ny.gov/press/releases/2021/02/dinapoli-paycheck-protection-program-nyc-stumbled-finding-footing