The Procurement Stewardship Act Report is prepared annually by the Office of the New York State Comptroller as required by New York State Finance Law, Section 163.14. The Report provides information on state agency contracts, agency purchases from centralized contracts, bid protests and use of consultants during the past fiscal year.
The Procurement Stewardship Act Report is prepared annually by the Office of the New York State Comptroller as required by New York State Finance Law, Section 163.14. The Report provides information on state agency contracts, agency purchases from centralized contracts, bid protests and use of consultants during the past fiscal year.
The MTA has made substantial progress funding its capital programs and has tried to limit the strain on its operating budget from debt service costs, but potential federal actions threaten its financial future and debt profile.
This report summarizes project and financial data submitted by industrial development agencies (IDAs) for fiscal year 2023 — the most recent data available — through the Public Authorities Reporting Information System. It also contains a brief discussion of local development corporations (LDCs), a related type of local authority. For regional and individual IDA summary-level data, see our Interactive Map.
The State of New York Mortgage Agency (SONYMA) has boosted lending and programs for minority households and economically disadvantaged communities, increasing its share of loans provided to low-income and minority borrowers over the last 10 years, but wide racial and ethnic disparities persist in homeownership in New York. Improvements to data and reporting are needed so that policymakers have better information to evaluate outcomes and consider whether additional actions are needed, given rising housing burdens across the State.
Stronger than anticipated revenues and lower costs for asylum seekers will help New York City balance its $118 billion fiscal year 2026 budget. However, potential fiscal challenges are emerging, including continued uncertainty regarding federal policy and economic conditions, and fiscal risks from anticipated federal budget cuts. These challenges could limit the City’s potential revenue upside and make it harder to continue to fund recent spending additions for discretionary programs and maintain services.
The Enacted Budget for State Fiscal Year 2025-26 is projected to total $254 billion, a 5.2% increase in spending at a time when new federal actions on funding and policy may change the relationship between the federal government and states. Federal funding represents more than 1 in 3 dollars in the State’s budget. Federal reductions will have real impacts on the people in the State, whether it is the food or medical care they can afford or even the level of care that hospitals provide.
Young workers in New York City between the ages of 16-24 continued to face a high 13.2% unemployment rate in 2024, which was 3.6 points higher than in 2019 and higher than all other age groups. Potential federal funding cuts to education and workforce development grants, as well as a looming economic recession, may weaken job prospects for young people.
The New York State Minority- and Women-Owned Business Enterprise (MWBE) Asset Management and Financial Institution Strategy (Chapter 171, Laws of 2010) was enacted to codify and replicate best practices for providing MWBEs that are asset managers, investment banks and financial and professional service providers with the opportunity to offer services to fiduciary-controlled entities established by New York State law.
