New York State Comptroller Thomas P. DiNapoli released the following statement on Mayor Adams' executive budget for Fiscal Year (FY) 2024:

“The city has laid its fiscal cards on the table, including budget risks my office has raised in recent years. The mayor’s executive budget provides a more transparent accounting for new costs associated with collective bargaining wage increases and asylum seekers. It also shows stronger than projected city revenues and additional savings from the Program to Eliminate the Gap (PEG).

New York City’s taxable sales grew by 18.1% in the first three quarters of the latest sales tax year (STY, March 2022 to February 2023), with leisure and hospitality sales on track to exceed pre-pandemic levels, according to a report released today by State Comptroller Thomas P. DiNapoli.

Payments under New York’s Paid Family Leave (PFL) program rose steadily between 2018 and 2021 as the amount of allowable time off and weekly cash benefits increased. Almost eight million workers were covered under PFL, with $872 million paid on approximately 156,000 claims in 2021, the latest year for which PFL data is available from the state Department of Financial Services, according to an analysis by State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P. DiNapoli today announced the following local government and school audits were issued.

A sample of local governments across New York reported $1.34 billion in actual and anticipated spending on capital projects over a 10-year period, with about 55% of the total in response to climate-related hazards such as increased flooding and storm damage, according to a report released today by State Comptroller Thomas P. DiNapoli.

Tax collections for State Fiscal Year (SFY) 2022-23 totaled $111.7 billion, $2.9 billion higher than the forecast released by the Division of the Budget (DOB) in the Amended Executive Budget financial plan at the beginning of March but $9.5 billion lower than the previous year, according to the March State Cash Report released today by New York State Comptroller Thomas P. DiNapoli.

The surge in federal spending in response to the COVID-19 pandemic significantly improved New York’s per capita ranking in the federal balance of payments from 49^th in 2019 to 30^th in Federal Fiscal Year (FFY) 2021, according to a report released by State Comptroller Thomas P. DiNapoli. For every dollar New York sent to the federal government in tax receipts, it received $1.51 back in federal spending, as compared to a national average of $1.70.

New York State Comptroller Thomas P. DiNapoli today announced the following local government and school audits were issued.

As New York state grapples with cost-effective solutions for its estimated $250 billion in infrastructure needs over the next 20 years, the state should examine both the opportunities that public-private partnerships offer as well as the underlying financial risks associated with forming those partnerships, according to a report released today by State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P. DiNapoli called for strong oversight provisions if New York broadens the authority of the state to enter into public-private partnership (P3) projects or goes forward with private financing of public projects. DiNapoli’s recommendations follow the release of a report today examining the benefits and problems that have plagued P3 projects elsewhere in the country.