The Metropolitan Transportation Authority (MTA) has two years to bring back riders and rebuild fare revenue before federal relief aid runs out, but in that time, it must develop plans to cover budget gaps that start at $2.5 billion in 2025 and grow in the outyears, according to a report on MTA’s financial outlook released today by New York State Comptroller Thomas P. DiNapoli.
The American Rescue Plan Act of 2021 provided $350 billion in additional fiscal relief to address the continued impact of COVID-19 on the economy, public health, and the finances of state and local governments, individuals and businesses. This report examines how New York City and other local governments across the country used the first of two partial payments of these funds, totaling nearly $224 billion.
New York City is using the federal funds it received in the wake of the COVID-19 pandemic to replace revenue losses and mitigate negative economic impacts, similar to other major cities in the country, but it has used them at a faster pace than its peer cities, which leaves less available to address future uncertainties, according to a report released today by State Comptroller Thomas P. DiNapoli.
The NYC Department of Education (DOE) needs to step up its efforts to prepare students for their next steps after high school, according to an audit released today by State Comptroller Thomas P. DiNapoli.
Communities in the Rockaways were some of the hardest hit by the pandemic. Despite the challenges, local economic indicators have slowly improved as the pandemic has worn on, with the number of Rockaways businesses growing in 2020 and 2021. Since the City’s reopening following the height of the pandemic, local stakeholders in the Rockaways have made concerted efforts to promote economic recovery and improved environmental conditions, with a focus on mitigating the impact of extreme climate events.
Communities in the Rockaways were some of the hardest hit by the COVID-19 pandemic. Now, more than two years after the pandemic first struck, an economic report released today by New York State Comptroller Thomas P. DiNapoli finds positive signs of business and employment growth that offer reason to believe the Rockaways is on the road to recovery.
New York State Comptroller Thomas P. DiNapoli issued the following statement today after giving remarks at the New York City Financial Control Board:
“Federal relief and higher revenues in City Fiscal Year (FY) 2022 allowed the city to build reserves and other budgetary cushion, but many of the potential fiscal issues facing the city remain out of its direct control. The city faces substantial fiscal risks in the coming years that will require fiscal discipline and preparation.
The New York City Department of Buildings (DOB) is not doing enough to protect construction workers on building sites, according to an audit released by New York State Comptroller Thomas P. DiNapoli. The audit found DOB needs to be more aggressive in its oversight, inspections and use of enforcement powers to make sure violations are corrected to help prevent construction-related accidents, injuries and fatalities.
MetroPlus, a subsidiary of NYC Health + Hospitals (H+H), offers low-cost to no-cost health insurance coverage to eligible New Yorkers through a variety of plans. Between February 2020 and June 2022, MetroPlus enrollment reached a record high of 670,915 members, an increase of 159,284 (31%), according to a report released today by State Comptroller Thomas P. DiNapoli. The financial stability of H+H is impacted by MetroPlus’s membership levels and members use of H+H health services.
MetroPlus Health Plan, a subsidiary of NYC Health + Hospitals (H+H), offers low cost to no cost health insurance coverage to eligible New Yorkers. In June 2022, enrollment reached a record high, which can be attributed to conditions and policy changes spurred by the COVID-19 pandemic. Changes in MetroPlus enrollment have a direct impact on H+H's financial stability. As more of its members choose H+H as a provider, the hospital system generates more revenue.
