Twenty-two local governments were designated in fiscal stress for 2019, according to State Comptroller Thomas P. DiNapoli’s Fiscal Stress Monitoring System (FSMS). The scores were based on financial information reported by local governments operating on a calendar year basis (Jan. 1 – Dec. 31) for 2019 (pre-pandemic). In New York, that includes all counties and towns, 44 cities and 10 villages.
New York State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund, today issued the following statement regarding the Securities and Exchange Commission’s (SEC) final vote on a shareholder rule:
“Today's action by the SEC will negatively impact investors and make it harder for shareholders to hold corporations accountable. These changes are unwanted by investors and may silence those challenging corporations to address issues like gender and racial pay equity, workplace diversity and racial discrimination.
New York State Comptroller Thomas P. DiNapoli today released five audits of the Department of Health’s (DOH) Medicaid program that identified approximately $706.6 million in unnecessary, improper or questionable payments and made several recommendations for improving the program.
"Tonight our nation mourns the passing of U.S. Supreme Court Justice Ruth Bader Ginsburg.
"She was a champion for justice, one of the brightest legal minds in American History and a passionate defender of the U.S. Constitution. She was a trailblazer for women and shattered many glass ceilings on her way to our country's top court. Her accomplishments and moral character will inspire generations to come."
New York City’s restaurant industry had 23,650 establishments in 2019, provided 317,800 jobs, paid $10.7 billion in total wages citywide and delivered nearly $27 billion in taxable sales, but many restaurants and bars have closed or significantly reduced their operations because of the COVID-19 pandemic, leaving tens of thousands unemployed, according to a report released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli today announced the following school district audits have been issued.
The City Council of Mount Vernon did not have adequate financial information for the effective management and fiscal oversight of city operations because officials failed to file annual financial reports, provide interim financial reports and issue audited statements. In addition, they did not have financial information available to develop multiyear financial or capital plans, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
State Comptroller Thomas P. DiNapoli today said the $150 billion federal Coronavirus Relief Fund (CRF) could have been better aimed to the localities, especially New York City, that suffered the most severe impacts from the novel coronavirus, instead of being based on the most recent U.S. Census Bureau population data.
New York State Comptroller Thomas P. DiNapoli today said that state tax receipts are $3.2 billion lower than last year, as he released the State Cash Report for August. DiNapoli noted state tax receipts of $4.3 billion in August were $309.3 million above the latest projections by the state Division of Budget (DOB), but $219.1 million below collections in August 2019.
Local government sales tax revenue declined by 7.8 percent in August compared to the same period last year, according to State Comptroller Thomas P. DiNapoli. August’s sales tax collections totaled $1.3 billion for counties and cities, or $111 million less than in August 2019.
This drop in revenue is similar to the decline in July of 8.2 percent, though much less extreme than the early months of the pandemic when sales tax collections plummeted by double digits.
