New York state should improve its track record when it comes to promoting financial literacy and providing New Yorkers with access to information and tools to build their financial knowledge and skills, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli today announced the following school district audits have been issued.
Communities in the Rockaways were some of the hardest hit by the COVID-19 pandemic. Now, more than two years after the pandemic first struck, an economic report released today by New York State Comptroller Thomas P. DiNapoli finds positive signs of business and employment growth that offer reason to believe the Rockaways is on the road to recovery.
The average household debt in New York climbed to a new high of $53,830 at the end of 2021. While New Yorkers trail the national average debt burden ($55,810), student loan and credit card debt per capita were well above the national average, with student loan balances 335% higher than they were in 2003, according to a report released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli issued the following statement today after giving remarks at the New York City Financial Control Board:
“Federal relief and higher revenues in City Fiscal Year (FY) 2022 allowed the city to build reserves and other budgetary cushion, but many of the potential fiscal issues facing the city remain out of its direct control. The city faces substantial fiscal risks in the coming years that will require fiscal discipline and preparation.
New York State Comptroller Thomas P. DiNapoli today announced employer contribution rates for the New York State and Local Retirement System (NYSLRS). Employers’ average contribution rates for the State Fiscal Year 2023-24 will increase from 11.6% to 13.1% of payroll for the Employees’ Retirement System (ERS) and from 27.0% to 27.8% of payroll for the Police and Fire Retirement System (PFRS).
NYSLRS is made up of these two systems, which pay retirement and disability benefits to public employees and death benefits to their survivors.
In July, the Office of the State Comptroller approved 1,232 contracts for state agencies and public authorities valued at $2.2 billion and approved more than 1.8 million payments worth more than $9.4 billion. The office rejected 120 contracts and related transactions valued at $294.2 million and nearly 2,100 payments valued at nearly $58.1 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.
The New York City Department of Buildings (DOB) is not doing enough to protect construction workers on building sites, according to an audit released by New York State Comptroller Thomas P. DiNapoli. The audit found DOB needs to be more aggressive in its oversight, inspections and use of enforcement powers to make sure violations are corrected to help prevent construction-related accidents, injuries and fatalities.
MetroPlus, a subsidiary of NYC Health + Hospitals (H+H), offers low-cost to no-cost health insurance coverage to eligible New Yorkers through a variety of plans. Between February 2020 and June 2022, MetroPlus enrollment reached a record high of 670,915 members, an increase of 159,284 (31%), according to a report released today by State Comptroller Thomas P. DiNapoli. The financial stability of H+H is impacted by MetroPlus’s membership levels and members use of H+H health services.
New York state is failing to promote and increase use of a key system designed to assist people with disabilities find employment services, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
