Tax collections totaling $19.8 billion fell short of projections for New York state in the first quarter of the state’s fiscal year (SFY), a decline of $797.6 million, or 3.9 percent, from the same period last year and $454.1 million below projections, according to the June state cash report issued today by State Comptroller Thomas P. DiNapoli.
State Comptroller Thomas P. DiNapoli announced today his office approved 1,984 contracts valued at $2.8 billion and approved more than 1.9 million payments worth more than $11.8 billion in June. His office also rejected 238 contracts and related transactions valued at $560 million and nearly 1,000 payments valued at more than $8.2 million due to fraud, waste or other improprieties.
New York state faces potential budget gaps in future years, according to an analysis of the state’s Financial Plan released today by State Comptroller Thomas P. DiNapoli. The budget gaps result from spending increases and tax reductions enacted this year, and the use of temporary resources to pay for recurring costs.
In 2016, the New York State Common Retirement Fund (Fund) reached agreements with six major corporations to voluntarily disclose their political spending, New York State Comptroller Thomas P. DiNapoli announced today. The latest agreement is with J.M. Smucker Co., which has adopted the Fund’s request that it publicly report all direct and indirect corporate political spending.
New York State Comptroller Thomas P.
Governor Cuomo today set forth a strong agenda for New York State in 2014. His leadership and vision have pushed New York in a positive direction.
Over the past few years, the state’s financial position has grown stronger with spending more closely aligned with revenue. However, more work remains to achieve structure balance. In this current fiscal year, my office identified almost $5 billion in temporary resources to support state spending. It is also time to tackle comprehensive reforms to the state’s budget process, debt and capital planning.
I send my congratulations to Melissa Mark-Viverito on her selection as Speaker of the New York City Council. Melissa will be a forceful advocate for all New York City residents. I look forward to working with Mayor Bill de Blasio, Speaker Mark-Viverito and all of the newly inaugurated city council members in the coming years.
State Comptroller Thomas P. DiNapoli announced today his office reviewed 1,711 contracts valued at $6 billion and approved more than 1.7 million payments worth more than $8.7 billion in the month of November. His office also rejected 175 contract transactions valued at $740 million and 791 payments valued at $1.3 million.
State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned sale of obligations for the state, New York City and their major public authorities during the first quarter of 2014.
The New York State Common Retirement Fund reached an all-time high of $160.7 billion in 2013, State Comptroller Thomas P. DiNapoli noted today in a release summarizing his office’s major accomplishments in 2013. Other notable highlights include several convictions from the fight against public corruption, statewide efforts to deal with local fiscal stress, returning $412 million in lost money to New Yorkers through the Unclaimed Funds program, and his continued push for campaign finance reform.
