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Review of the Financial Plan of the City of New York, August 2023

New York City’s finances continue to benefit from better-than-projected revenues and savings generated through initiatives launched in response to its financial challenges. While many of the fiscal challenges facing the City are not in its direct control — including the continued influx of asylum seekers, elevated demand for City programs due to an uneven recovery and the potential for federal and State actions that could further pressure City finances — preparation remains paramount to navigating this uncertainty.

DiNapoli: NYC's 2024 Budget Balanced, but Risks Loom

A $5.5 billion surplus from last fiscal year and $1.7 billion in savings from the city’s Program to Eliminate the Gap (PEG) have helped New York City balance its $112.6 billion budget for city fiscal year (FY) 2024, despite $2.9 billion in costs in FY 2024 to address the influx of asylum seekers.

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Revenue Impact of Commercial Casinos on Upstate Local Governments

New York State voters approved a constitutional amendment in 2013 which authorized seven commercial casinos. The first four of those opened between 2016 and 2018 in upstate communities and the Request for Applications for the remaining three licenses for downstate communities began in January 2023. This report analyzes the impact the revenue from the four upstate commercial casinos has had on the affected local governments.