New York City, New York state and the Metropolitan Transportation Authority all need additional federal aid to mitigate the impact of the COVID-19 pandemic on their budgets and a failure to aid one could adversely affect the others, according to a review of the city’s financial plan released today by New York State Comptroller Thomas P. DiNapoli.

Recent unemployment claims suggest that most of New York City’s job gains over the past decade have been lost due to the economic impacts of the coronavirus. The city now forecasts its economy will shrink by 12.9 percent in 2020, according to a report released today by New York State Comptroller Thomas P. DiNapoli. Tax collections are projected to fall next fiscal year for the first time since the Great Recession.

The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability, according to annual estimates released today by New York State Comptroller Thomas P. DiNapoli.

The Metropolitan Transportation Authority is expected to devote one-fifth of total revenue to debt service by 2023 as it relies increasingly on borrowing to finance its capital needs, leaving a smaller share of revenue for other priorities and hindering budget flexibility during an economic setback, according to a report released today by State Comptroller Thomas P. DiNapoli.

New York City projects a surplus of more than $2.7 billion for fiscal year (FY) 2020, up from $550 million in November 2019, which it plans to transfer to FY 2021 to help balance that year’s budget, according to a report released today by State Comptroller Thomas P. DiNapoli.

New York City has added more than 900,000 jobs over the past ten years and its 24 percent rate of growth outpaced the nation and New York state, according a report released today by State Comptroller Thomas P. DiNapoli.

Despite spending about $36 million to reduce the subway homeless population, the homeless situation in the subways has grown significantly worse, in part because the city’s Department of Homeless Services (DHS) has neglected to monitor a non-profit that has repeatedly failed to conduct outreach it was hired for, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.

Despite waiting lists for Mitchell Lama apartments being very long and turnover very slow, some developments continued to collect $200 fees from applicants who had virtually no chance of getting an apartment in their lifetime, an audit released today by New York State Comptroller Thomas P. DiNapoli found.

New York City now projects a surplus of $550 million in fiscal year 2020, reflecting stronger-than-expected personal and business income tax collections during the first four months of the year, according to a report released today by New York State Comptroller Thomas P. DiNapoli.

Pretax profits in the securities industry reached $15.1 billion in the first six months of 2019, an 11 percent increase over the same period last year, and the best start in a decade, but a slowdown in the global economy and other factors pose threats to second half profits, according to State Comptroller Thomas P. DiNapoli’s annual report on Wall St.’s performance.