This snapshot highlights the FSMS results for school districts that reported for school fiscal year (SY) 2021-22, which ended on June 30, 2022.  Fewer school districts were scored in fiscal stress in this year than any other year since the System’s inception largely due to increases in State aid and temporary federal aid.

A sample of 95 local governments across New York State reported $1.34 billion in actual and anticipated spending on capital projects over a 10-year period, with about $737 million (55% of the total) in response to climate-related hazards such as increased flooding and storm damage. A review of New York City’s capital commitments for fiscal year 2023 showed that it included $829 million for adaptation and resilience projects, and another $1.3 billion for projects with adaptation and resilience components, with planned commitments averaging more than $1.8 billion per year.

The COVID-19 pandemic exacerbated pre-existing staffing pressures, particularly a shortage of staff nurses, in NYC Health + Hospitals (H+H) facilities, leading to an increased reliance on temporary nurses and higher staffing costs. This report includes a trend analysis of nurses in New York City and the rest of the State, challenges to hire more staff nurses nationwide and the experience of H+H nurse staffing during this time.

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 49th in 2019 to 30th in Federal Fiscal Year 2021. 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. This report is the seventh in a series by the Office of the State Comptroller that examines the flow of funds between the federal government and the states.

This report summarizes data for fiscal year 2021, the most recent data reported by IDAs through the Public Authorities Reporting Information System. The report also contains a brief discussion of local development corporations, a related type of local authority. For IDA-level summary data, see our Interactive Map.

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 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.

Like many cities across the United States, New York City has adjusted its budget priorities during the COVID-19 pandemic to help address pressing needs. This report examines how the City’s spending priorities shifted during the pandemic, including increases to support education, public safety, quality of life improvements and social services, as well the risks and uncertainties that could impact these newly funded programs in the long term.

Last year the New York State Thruway Authority proposed a multi-year schedule of toll increases to begin in 2024. This report provides a summary of the Thruway Authority’s current and forecasted revenue and expenses, factors that have impacted its finances over the past several years, the toll increase proposal, and considerations to help guide the assessment of the proposal.