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NEWS from the Office of the New York State Comptroller
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DiNapoli: Some Bright Spots for NYC Finances in FY21, but Long-Term Challenges Looming

New York City is projecting a $3.4 billion surplus for city fiscal year (FY) 2021 because of better-than-projected revenues from income and corporate taxes, debt service savings from lower interest rates and a deferral of labor costs to FY 2022, but the city will have to overcome major fiscal challenges in the years ahead as it recovers from the COVID-19 pandemic, according to a report released today by State Comptroller Thomas P. DiNapoli.

NY State Comptroller DiNapoli Statement on McDonald's Agreement to Tie Executive Compensation to Diversity, Workforce Management

New York State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund, released the following statement today in response to McDonald’s decision to disclose workforce diversity data and tie executive compensation to the company’s ability to foster inclusion and ensure improved human capital management.

New York State Comptroller Thomas P. DiNapoli Statement on MTA's Budget

New York State Comptroller Thomas P. DiNapoli released the following statement today in response to the Metropolitan Transportation Authority’s improved revenue forecast and expectations of additional federal aid.

“Improvements in fare, toll and tax collections have put MTA’s short-term finances on a stronger footing than expected. These positive developments mean that MTA can avoid recovery-damaging service cuts or layoffs in 2022.

DiNapoli: State Tax Revenues $2 Billion Lower Than Last Fiscal Year

State tax receipts cumulatively through January of State Fiscal Year 2020-21 are nearly $2 billion lower than last year, according to the monthly State Cash Report released by New York State Comptroller Thomas P. DiNapoli. Overall, tax receipts are $1.7 billion higher than anticipated by the state Division of the Budget’s (DOB) January projections.

Tax receipts for the month of January totaled $11.4 billion. This is $550.5 million above last year and $1.7 billion above DOB’s latest projections.

DiNapoli: January Local Sales Tax Collections Down 5.9 Percent

Local government sales tax collections statewide were down 5.9 percent in January compared to the same time last year, State Comptroller Thomas P. DiNapoli announced today. Collections totaled $1.5 billion, down $95 million from January 2020.

The decline was less than the 8.4 percent drop in December and the double-digit declines in the earlier months of the pandemic (April-June).

DiNapoli: Chatham Police Chief Pleads Guilty to Pension Double-Dipping and Defrauding Village

State Comptroller Thomas P. DiNapoli, Columbia County District Attorney Paul Czajka, and the New York State Police today announced the guilty plea of former Village of Chatham Chief of Police Peter Volkmann following a joint investigation. As a result of his conviction, Volkmann is required to leave public office.

DiNapoli: Paycheck Protection Program in NYC Stumbled, but Finding Footing

New York City was the early epicenter of the COVID-19 pandemic outbreak, but many small businesses hit hardest were initially left out of the federal Paycheck Protection Program (PPP) because they faced difficulties meeting the program’s rigid requirements and lacked access to major lenders, according to a report released today by State Comptroller Thomas P. DiNapoli.