“The state Legislature and Governor agreed on a new budget during an extraordinarily difficult time. The economic and budgetary impact from the coronavirus public health emergency presents our state with unprecedented risks. Unanticipated healthcare costs, dramatically increased unemployment and depressed business activity affects all state and local government finances. Moving forward, the Comptroller’s office will continue our role of monitoring revenues, spending, debt and cash flow trends.

“Our analysis of the new budget will be forthcoming.”

New York State Comptroller Thomas P. DiNapoli today issued a revenue projection for the 2020-2021 state budget which reflects an estimate of the economic impact and ongoing volatility stemming from the spread of the coronavirus (COVID-19). DiNapoli estimates tax revenue will be at least $4 billion below the projections in the Executive Budget of $87.9 billion. He also offered one alternative scenario if a more severe recession or sharper declines in the stock market occur, which could lower tax revenues by more than $7 billion.

New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.

An audit released today by New York State Comptroller Thomas P. DiNapoli found the Office of Temporary and Disability Assistance (OTDA) continues to provide inadequate oversight of homeless shelters, allowing unsafe conditions that pose significant health and safety risks.

Coca Cola Co. will consider the wages it pays all of its employees when setting executive salaries, aiming to bring them into closer alignment, State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund (Fund), announced today. In response to the agreement, the Fund withdrew its shareholder resolution with the Atlanta-based beverage giant.

The state Public Service Commission (PSC) is falling short in monitoring Charter Communications Inc. and other utilities across New York, according to an audit released today by State Comptroller Thomas P. DiNapoli. Auditors found regulators lacked the equipment to measure Internet speeds, used inaccurate data to track service reliability and imposed only four penalties in four years.

The state Office of Children and Family Services (OCFS) is not doing enough to ensure adequate protections are in place for children who are placed in the custody of relatives or another suitable person outside the foster care system, according to an audit released today by State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P. DiNapoli hosted a breakfast during the New York State Black and Puerto Rican Legislative Caucus weekend on Feb. 15 at the Hilton Albany.

DiNapoli honored the following prominent leaders:

State Comptroller Thomas P. DiNapoli, Attorney General Letitia James and New York City Department of Investigation Commissioner Margaret Garnett announced the sentencing of non-profit executive Anna Mendez for the misuse of nonprofit funds to fund straw political donations to former New York City Council candidate Albert Alvarez.

On Tuesday, in New York County Supreme Court, Mendez was sentenced to 5 years’ probation.

In January, the Office of the State Comptroller approved 1,485 contracts for state agencies and public authorities valued at $18.1 billion and approved more than 1.8 million payments worth nearly $11.1 billion. The office rejected 130 contracts and related transactions valued at $670 million and more than 2,800 payments valued at nearly $41.2 million. More information on contracts, payments and state and local government spending is available at www.openbooknewyork.com.