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State Comptroller Thomas P. DiNapoli Statement on State Budget for State Fiscal Year 2023-24

"The state budget makes important investments in education and health care, including mental health care, and provides significant, recurring funding to the MTA that will help close budget gaps. The Governor has stated that reserves will equal 15% of State Operating Funds, consistent with recommendations I have long advocated. The budget also makes statutory changes that increase the allowable deposits and balances of the state's rainy day reserves. The state should put this authority to use by relying more on statutory, rather than informal, reserves.

DiNapoli & Lander’s Proposal Calling on Wells Fargo Board to Report on Efforts to Prevent Discrimination and Harassment Wins Majority Support From Shareholders

New York State Comptroller Thomas P. DiNapoli and New York City Comptroller Brad Lander called on Wells Fargo & Co.’s board of directors to publicly report on the company’s efforts to prevent harassment and discrimination in the workplace following a majority shareholder vote in favor of a proposal filed by the New York State Common Retirement Fund (Fund) and the New York City Pension Funds. DiNapoli serves as the trustee of the Fund and Lander serves as fiduciary to the city’s five public pension funds.

New York's Paid Family Leave Program

New York’s Paid Family Leave (PFL) provides paid time off for eligible employees for bonding with a newborn, or newly adopted or foster child or to care for a family member with a serious health condition. Payments under PFL rose steadily between 2018 and 2021 as the amount of allowable time off and weekly cash benefits increased. Almost eight million workers were covered under PFL, with $872 million paid on approximately 156,000 claims in 2021.

DiNapoli: State’s Paid Family Leave Program Helping Millions of New Yorkers

Payments under New York’s Paid Family Leave (PFL) program rose steadily between 2018 and 2021 as the amount of allowable time off and weekly cash benefits increased. Almost eight million workers were covered under PFL, with $872 million paid on approximately 156,000 claims in 2021, the latest year for which PFL data is available from the state Department of Financial Services, according to an analysis by State Comptroller Thomas P. DiNapoli.

DiNapoli: Temporary Federal Spending Drives Up NY’s National Ranking in States’ Balance of Payments

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 (FFY) 2021, according to a report released by State Comptroller Thomas P. DiNapoli. 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.

New York’s Balance of Payments in the Federal Budget - Federal Fiscal Year 2021, April 2023

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.

Public-Private Partnerships Potentially a "Good Option" but Financial Risks for Taxpayers Must Be Addressed

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.

DiNapoli Issues Report on Public-Private Partnerships

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.

Controlling Risk Without Gimmicks: New York’s Infrastructure Crisis and Public-Private Partnerships, January 2011

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.

Private Financing of Public Infrastructure: Risks and Options for New York State, June 2013

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.