State Comptroller DiNapoli Statement on MTA 2023 Budget
New York State Comptroller Thomas P. DiNapoli released the following statement today regarding the Metropolitan Transportation Authority’s (MTA) adoption of its 2023 budget:
New York City
Review of the Financial Plan of the City of New York
New York City’s fiscal year (FY) 2023 budget is projected to rise to $109.4, after transfers, but City finances could come under pressure amid a slowing economic recovery and an increase in demand for City services. For the upcoming FY 2024 preliminary budget, State Comptroller DiNapoli urges the City to provide a realistic and transparent view of the City’s revenue and expenses and take actions to close out-year gaps while maintaining critical services.
DiNapoli: NYC Financial Plan Improved From June
New York City’s fiscal year (FY) 2023 budget is projected to rise to $109.4 billion (adjusted from $104 billion after surplus transfers), reflecting continued improvement in the city’s fiscal position since June, but city finances could come under pressure amid a slowing economic recovery and an
DiNapoli: Young People in NYC Still Face Double-Digit Unemployment
More than two years after the height of the COVID-19 pandemic, young people in New York City continue to face double-digit unemployment, with young men experiencing the greatest challenges in finding work, accordi
New York City's Uneven Recovery: Youth Labor Force Struggling
More than two years after the height of the COVID-19 pandemic in New York City, young people are still facing double-digit unemployment. There are currently over 70,000 unemployed young workers in the City, nearly two times as many as in 2019. Young men are struggling the most with nearly 24% remaining unemployed, significantly higher than in the rest of New York State and the nation.
DiNapoli: MTA Budget Gaps Driven By Fare Revenue Drop
Fare Revenue Considerations for the Metropolitan Transportation Authority
The Metropolitan Transportation Authority (MTA) has long faced difficulties closing projected budget gaps, which have been exacerbated by the pandemic, necessitating an unprecedented level of federal funding to maintain service operations. The MTA had been previously encouraged to examine cost and revenue efficiencies but those alone are unlikely to close the more than $2.5 billion annual gap that will remain when federal pandemic relief is exhausted in 2025, forcing the MTA to lay out savings and revenue options for its stakeholders to consider.
DiNapoli: One-in-Four Homeless Shelter Clients with Serious Mental Health Issues Were Not Placed in a Mental Health Shelter
The NYC Department of Homeless Services (DHS) is falling short in meeting the needs of homeless New Yorkers, particularly those with mental health and substance abuse issues, according to an audit released today by State Comptroller
State Comptroller DiNapoli Statement on New York City's November Budget Update
New York State Comptroller Thomas P. DiNapoli issued the following statement regarding the agreement announced today on New York City’s November Financial Plan.
Update on New York City Staffing Trends
Attrition outpaces hiring among New York City’s municipal workforce, which could have an impact on critical City services and programs. The City’s full-time workforce declined by 19,113 employees over the last two years, the largest decline in staffing since the Great Recession of 2008. Despite the City hiring over 40,000 new employees in the last fiscal year, City job vacancies stand at more than 21,000.