The Metropolitan Transportation Authority (MTA) continues to make progress on bringing back riders, but  ridership remains well below pre-pandemic levels, putting a major strain on its budget. The report highlights key areas of transit service — safety, reliability and frequency — where the MTA can take steps to improve riders’ experience and encourage their return, to effectively fulfil its mission and stabilize its fiscal position.

The COVID-19 pandemic forced New York’s schools to take on the extraordinary challenge of quickly shifting to remote learning formats. Recent national data show student performance dropped significantly in 2022 from 2019, with New York experiencing even greater declines than the nation in fourth grade math and reading. School districts need to swiftly invest significant resources in helping students that are most in need to make up for learning loss, while pandemic relief funds for education are still available.

The Executive Budget proposes $227 billion in All Funds spending in SFY 2023-24, an increase of 2.5% from the prior year. The State faces prolonged inflation, rising federal interest rates and the end of federal relief aid that was instrumental in balancing the past two budgets. As a result, the Division of the Budget projects shortfalls in revenues and increases in spending.

New York City’s $104.8 billion preliminary fiscal year (FY) 2024 budget has benefitted from better-than-projected revenue collections, the reallocation of unused federal pandemic relief funds and savings initiatives. The Comptroller's office assumes that a number of the fiscal risks the City currently faces will continue, increasing the planned budget gap to about $8.9 billion in FY 2025 and $13.9 billion in FY 2027, even when adjusting for stronger revenue collections.

Local sales tax collections in New York state increased by 9.2% in January compared to the same month in 2022. Overall, local collections totaled $1.89 billion, up $159 million compared to the same time last year.

Regional Table [.xlsx]

Approximately one in ten, or about 800,000, New York households experienced food insecurity from 2019 to 2021, and an increasing number say they face food insufficiency since summer 2021. This report is the second in the “New Yorkers in Need” series. It details recent trends in food insecurity, explains policy interventions by the federal and State governments, and demonstrates a clear need for a continuing commitment to reduce the incidence of food insecurity.

The Office of the State Comptroller received 18,605 contract transactions, including both new contracts and contract amendments, valued at $173 billion in the calendar year 2021. The average time from agency contract submission to final sign-off was 5.3 days.