As New York state grapples with cost-effective solutions for its estimated $250 billion in infrastructure needs over the next 20 years, the state should examine both the opportunities that public-private partnerships offer as well as the underlying financial risks associated with forming those partnerships, according to a report released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli called for strong oversight provisions if New York broadens the authority of the state to enter into public-private partnership (P3) projects or goes forward with private financing of public projects. DiNapoli’s recommendations follow the release of a report today examining the benefits and problems that have plagued P3 projects elsewhere in the country.
As New York State grapples with cost-effective solutions for its estimated $250 billion in infrastructure needs over the next 20 years, this report examines both the opportunities that public-private partnerships offer as well as the underlying financial risks associated with forming those partnerships.
The Office of the State Comptroller recommends that, before State agencies are authorized to use P3 financing, policy makers should first develop a better understanding of the potential costs and benefits of this approach. This report identifies a number of the risks associated with privately financed infrastructure agreements and suggests ways to reduce such risks.
A new report released today by State Comptroller Thomas P. DiNapoli finds that after a nationwide spike in unemployment, New Yorkers with disabilities continue to face a higher unemployment rate than the national average for those with disabilities. In 2020, unemployment rates for working-aged people with a disability soared in both New York and the nation, reaching 13.9% and 13.4%, respectively. The national rate dropped to 8.2% in 2022, but in New York it was 11.9%.
The COVID-19 pandemic led to soaring unemployment rates for people with disabilities, and these rates have not declined as quickly in New York as they have nationally. This report highlights the continued need for solutions that facilitate increased employment for people with disabilities in New York.
The state Department of Health can do more to control costs and save taxpayers money by making sure it gets the drug rebates that it is entitled to under federal regulations, according to an audit by State Comptroller Thomas P. DiNapoli. DiNapoli’s office has conducted a series of audits on this issue with similar results.
The Office for People With Developmental Disabilities’ (OPWDD) inadequate emergency management coordination left people living in group homes at risk during the onset of the COVID-19 pandemic, according to a new audit released today by New York State Comptroller Thomas P. DiNapoli. OPWDD reported 657 people died from COVID-19, and more than 13,000 contracted the virus in its residential programs from March 2020 to April 2022.
New York State Comptroller Thomas P. DiNapoli issued the following statement today on state budget negotiations.
The New York State Common Retirement Fund (Fund) committed $1.3 billion to two funds as part of its Sustainable Investments and Climate Solutions (SICS) Program, State Comptroller Thomas P. DiNapoli, trustee of the Fund, announced today.
