New York State Comptroller Thomas P. DiNapoli today announced the launch of new online dashboards to track data for key industry sectors in New York City on a regular basis, providing policy makers and the public with a look at how the COVID-19 pandemic has affected the city and how its recovery is progressing.
New York State Comptroller Thomas P. DiNapoli released the following statement on Mayor Adams’ preliminary budget proposal:
“Mayor Adams put forward his first budget proposal as New York City is still rebounding from the pandemic and is facing an uneven economic recovery. The city’s outlook has improved, a result of some good fortune and more proactive planning, but it can do more to prepare for ongoing uncertainty and boost its reserves.
New York City’s published financial plan includes funding for some recurring spending initiatives for only a limited period, creating additional risks to already identified budget gaps. The Office of the State Comptroller has created a tool to identify sources and uses of funds for City programs that are not fully funded during the remaining years of the City’s financial plan, through Fiscal Year 2025
The City experienced significant growth in its fulltime workforce in the years prior to the COVID-19 pandemic, much of which was driven by new or expanded services. The pandemic, and the City’s efforts to manage the budgetary implications of its impact, have led to a decline in staffing which has undone much of this growth.
New York City’s uneven recovery will present evolving challenges over the next few years, New York State Comptroller Thomas P. DiNapoli said today in remarks to the Association for a Better New York (ABNY). Sharp declines in the city’s workforce, combined with revenue uncertainty for key programs as federal aid winds down, may test the city’s ability to respond to demands for critical services just as it is trying to ensure a robust and broad recovery, DiNapoli said.
New York State Comptroller Thomas P. DiNapoli today released the following statement on New York City’s property tax assessments:
“The release of New York City’s tentative property assessment roll suggests a bright spot for New York City’s finances entering fiscal year (FY) 2023, amid uncertainty in the city's economic recovery and its impact on city property taxes, the largest source of city revenues.
New York City’s Department for the Aging (DFTA) needs to do more to ensure the meals it provides to homebound seniors are prepared in sanitary conditions and are nutritious, high-quality meals, according to an audit released today by New York State Comptroller Thomas P. DiNapoli. The agency’s failure to adequately monitor the vendors it hires to make and deliver the meals is a particular concern during the COVID-19 pandemic, which has increased isolation and food insecurity.
When the COVID-19 pandemic began, many businesses in retail trade, restaurant, and arts, entertainment and recreation closed. This report examines the damage the pandemic has inflicted on those sectors, and considers the distribution of federal funds for businesses in the City, particularly for businesses in low- and moderate-income communities and in historically underutilized business zones.
New York City’s restaurant, retail and recreation (RRR) sectors continued to struggle during the COVID-19 pandemic, even before the latest surge in cases, with 169,700 fewer jobs in November than from two years ago, according to a report released today by State Comptroller Thomas P. DiNapoli. The losses accounted for 41% of total private sector jobs lost in the city during the pandemic.
A look back at some of the major accomplishments of the Office of the New York State Comptroller in 2021, including achieving a record 33.5% investment return for the State pension fund, protecting the pension fund by divesting from coal and oil sands companies while investing in sustainable and low-carbon opportunities, tracking employment and economic trends while closely monitoring pandemic relief programs, returning $348 million in lost money to rightful owners, and more.
