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Upstate Transportation Authorities Suffer Revenue Plunge

The COVID-19 pandemic created unprecedented challenges for the State’s regional transportation authorities by disrupting operations, decreasing ridership, and severely reducing revenues; however, these authorities reported that federal aid helped them weather pandemic deficits. If ridership continues to languish and does not return to pre-pandemic levels, the authorities will need additional revenue from other sources to continue to provide services at current levels—or may be faced with limiting services.

NYS Common Retirement Fund Reports First Quarter Results

The New York State Common Retirement Fund’s (Fund) estimated return in the first quarter of the State Fiscal Year (SFY) 2021-22 was 5.82% for the three-month period ending June 30, 2021, according to New York State Comptroller Thomas P. DiNapoli.

State Contract and Payment Actions in June

In June, the Office of the State Comptroller approved 1,487 contracts for state agencies and public authorities valued at $18.6 billion and approved more than 20.9 million payments worth more than $18.1 billion.

DiNapoli: Medicaid Billing Errors Cost State More Than $1.5 Billion

The state Department of Health (DOH) allowed more than $1.5 billion in improper Medicaid payments over the course of several years due to errors in its billing system and may have exposed patients to unqualified and uncredentialed health care providers, according to three reports released today b