A new report released today by State Comptroller Thomas P. DiNapoli found 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.
New York State Comptroller Thomas P. DiNapoli released the following statement on Mayor Adams' executive budget for Fiscal Year (FY) 2024:
“The city has laid its fiscal cards on the table, including budget risks my office has raised in recent years. The mayor’s executive budget provides a more transparent accounting for new costs associated with collective bargaining wage increases and asylum seekers. It also shows stronger than projected city revenues and additional savings from the Program to Eliminate the Gap (PEG).
As New York City’s overall taxable sales begin to normalize from their pandemic-fueled levels, various economic sectors, most notably leisure and hospitality, continue to recover their pandemic declines. As national retail sales growth slows from its double-digit pace of 2021, City retail sales and associated revenues could see a return to historical growth rates following the next two fiscal years.
New York City’s taxable sales grew by 18.1% in the first three quarters of the latest sales tax year (STY, March 2022 to February 2023), with leisure and hospitality sales on track to exceed pre-pandemic levels, according to a report released today by State Comptroller Thomas P. DiNapoli.
Wall Street’s 2022 average bonus paid to securities employees dropped to $176,700, a 26% decline from the previous year’s $240,400. Rising interest rates and fear of a recession led to significantly less profits on Wall Street after a record year in 2021.
Wall Street’s 2022 average bonus paid to securities employees dropped to $176,700, a 26% decline from the previous year’s $240,400, according to New York State Comptroller Thomas P. DiNapoli’s annual estimate. Rising interest rates and fear of a recession led to significantly less profits on Wall Street after a record year in 2021. As a result, bonuses returned to pre-pandemic levels, which will mean a decline in related income tax revenue, as anticipated by New York state and the city.
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 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. A report released today by New York State Comptroller Thomas P. DiNapoli 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 Metropolitan Transportation Authority (MTA) is on stronger financial footing than seven months ago with $1.9 billion in unanticipated resources now expected to be available over the course of the financial plan period, yet it still plans to raise fares and tolls by 15 percent over a three-year period, according to an analysis of the MTA’s financial plan released today by New York State Comptroller Thomas P. DiNapoli.
The Metropolitan Transportation Authority’s (MTA’s) East Side Access project, which will bring Long Island Rail Road (LIRR) service to Grand Central Terminal for the first time, is expected to cost nearly $9 billion when finished in 2019, more than twice the MTA’s initial cost estimate and a decade later than expected, according to a report released today by New York State Comptroller Thomas P. DiNapoli.
