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NEWS from the Office of the New York State Comptroller
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DiNapoli: NYC Facing Larger Budget Gaps Amid Slowing Economic Growth and Rising Costs

New York City’s budget gaps may reach as high as $10 billion in FY 2027 and grow to $13.6 billion by FY 2029, based on risks including slowing economic growth, rising costs and the restructuring of the funding relationship between the federal government, states and their localities, according to a report released today by State Comptroller Thomas P. DiNapoli on the updated financial plan released by the city in November (November Plan).

DiNapoli: Federal Actions Threaten New York's Farms and Food Production

New York farmers are under increasing economic and financial pressure because of federal policy changes, including higher tariffs, cuts to certain agricultural programs, and stricter immigration enforcement policies, according to a report released today by New York State Comptroller Thomas P. DiNapoli. These challenges could diminish farm production, squeeze profits, and lead to higher prices for consumers.

DiNapoli: NYC Health + Hospitals Confront Tough Fiscal Outlook as Washington Moves to Cut Health Care Spending

New York City Health + Hospitals (H+H) will see pressure on key sources of revenue as Medicaid and low-income patients that rely on federal support lose health insurance, while reimbursement rates for health care programs are cut by Washington, making it harder for the largest public health system in the country to reach its financial goals, according to a report released today by State Comptroller Thomas P. DiNapoli.

DiNapoli: Gen Z and Young Millennials in New York Struggle With Economic, Affordability Challenges

New York’s young adults — some members of Generation Z (born 1997-2012) and Millennials (born 1981-1996) — are facing a complex economic landscape including higher unemployment rates, increasing costs, and larger debt burdens, that threatens their financial well-being, according to a new report released by State Comptroller Thomas P. DiNapoli.

DiNapoli: New Yorkers Deserve a Transparent Hiring Process When Artificial Intelligence Is Used To Vet Their Job Applications

New York City’s Department of Consumer and Worker Protection (DCWP) is falling short in enforcing Local Law 144 (LL144) which regulates the use of artificial intelligence (AI) in employment decisions, according to an audit released today by New York State Comptroller Thomas P. DiNapoli. The audit found that DCWP had trouble identifying non-compliance with the law, particularly when employers did not disclose AI use or post bias audits.

DiNapoli Releases Report on FY 2027 Proposed Executive Budget

State Comptroller Thomas P. DiNapoli’s report examining the proposed State Fiscal Year (SFY) 2027 Executive Budget warns the trajectory of projected state spending is estimated to increase at a rate faster than expected revenues, creating cumulative outyear budget gaps estimated by the Division of Budget (DOB) to total $27.5 billion through SFY 2030. Actions taken in Washington, including federal reductions in aid, create increased fiscal strains that are likely to affect the state’s economy, finances and safety net.

State Comptroller DiNapoli and DFS Acting Superintendent Asrow Designate New Banking Development District to Support Community Banking in the Butternut Valley

New York State Comptroller Thomas P. DiNapoli and Acting Superintendent of the Department of Financial Services (DFS) Kaitlin Asrow today announced the approval of the Butternut Valley Banking Development District (BDD) as a participant in the BDD program and deposited $35 million in New York State funds to Sidney Federal Credit Union’s (SFCU) Morris Branch.

Statement From New York State Comptroller DiNapoli on New York City's Fiscal Year 2027 Preliminary Budget

New York State Comptroller Thomas P. DiNapoli released a statement today on Mayor Zohran Mamdani’s Fiscal Year 2027 preliminary budget:

“The $127 billion Fiscal Year (FY) 2027 preliminary budget marks a substantial shift in the city’s approach to budgeting, incorporating chronically underbudgeted expenses and new spending risks. I commend Mayor Mamdani for recognizing the fiscal risks ahead and I urge caution in tracking revenue and making swift adjustments if needed.