According to a report released today by State Comptroller Thomas P. DiNapoli, New York closed out the state fiscal year on March 31 with cash-on-hand in the General Fund of $8.9 billion, or $2.4 billion above projections. The state will face cash flow challenges as soon as next month due to billions in state aid payments for health and education, delayed state tax revenues and additional spending to fight the coronavirus.

“The state Legislature and Governor agreed on a new budget during an extraordinarily difficult time. The economic and budgetary impact from the coronavirus public health emergency presents our state with unprecedented risks. Unanticipated healthcare costs, dramatically increased unemployment and depressed business activity affects all state and local government finances. Moving forward, the Comptroller’s office will continue our role of monitoring revenues, spending, debt and cash flow trends.

“Our analysis of the new budget will be forthcoming.”

New York State Comptroller Thomas P. DiNapoli today announced the following school district audits have been issued.

Brewster Central School District – Professional Services (Putnam County)

District officials did not seek competition for professional services from three of the 10 professional service providers reviewed. Auditors determined these providers were paid $696,291 during the audit period.

New York State Comptroller Thomas P. DiNapoli today announced the following local government audits have been issued.

The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability, according to annual estimates released today by New York State Comptroller Thomas P. DiNapoli.

David Decker, former director of the Lake George Watershed Coalition, was convicted today in Warren County Court of two counts of Grand Larceny in the Second Degree, Scheme to Defraud in the First Degree and related false filing charges, related to his diversion of federal and state grant funds meant to improve the area surrounding Lake George, according to New York State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P. DiNapoli today issued a revenue projection for the 2020-2021 state budget which reflects an estimate of the economic impact and ongoing volatility stemming from the spread of the coronavirus (COVID-19). DiNapoli estimates tax revenue will be at least $4 billion below the projections in the Executive Budget of $87.9 billion. He also offered one alternative scenario if a more severe recession or sharper declines in the stock market occur, which could lower tax revenues by more than $7 billion.

State Comptroller Thomas P. DiNapoli released a report today, which found 27 local governments are three or more years delinquent in meeting one or more annual financial reporting requirements.

New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.

New York State Comptroller Thomas P. DiNapoli today announced the following school district audits have been issued.