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Comptroller's Oversight of State Contracts
DiNapoli: Former Norwood Treasurer Charged With Stealing Over $70,000 From the Village
State Comptroller Thomas P. DiNapoli, St. Lawrence County District Attorney Gary Pasqua and the New York State Police today announced that Nancy Berger, 55, formerly the Clerk/Treasurer of the Village of Norwood, was arrested for allegedly stealing $73,725 from the Village.
State Contract and Payment Actions in August
In August, the Office of the State Comptroller approved 1,555 contracts for state agencies and public authorities valued at $2.7 billion and approved more than 2 million payments worth nearly $10.3 billion. The office rejected 133 contracts and related transactions valued at $727.8 million and nearly 2,800 payments valued at more than $14.3 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.
A Comparison of Fiscal Recovery Funds Utilization: NYC and Peers
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.
2022 Financial Condition Report
For Fiscal Year Ended March 31, 2022
Data Sources
- Center for the Study of Education Policy, Illinois State University
- City of New York Department of Correction
- City University of New York
- College Board
- Federal Reserve Bank of New York
- Fitch Ratings
- IHS Markit/S&P Global
- Internal Revenue Service
- Moody’s Investors Service
- National Association of State Budget Officers
- National Student Clearinghouse
- NYC Office of Management and Budget
- NYS Department of Agriculture and Markets
- NYS Department of Corrections
2022 Financial Condition Report
For Fiscal Year Ended March 31, 2022
Appendix 3: State Receipts by Major Source
2022 Financial Condition Report
For Fiscal Year Ended March 31, 2022
Appendix 2: Federal Funds Spending by Major Function
2022 Financial Condition Report
For Fiscal Year Ended March 31, 2022
Appendix 1: State Funds Spending by Major Function
2022 Financial Condition Report
For Fiscal Year Ended March 31, 2022
Implications for the Future
The Economic Outlook: Uncertainty Remains
As the world faced the third year of the COVID-19 pandemic, its impact on the economy continued to be felt and was heightened by other factors, such as the Russian invasion of Ukraine. Supply chain disruptions, increased demand of goods, and a tight labor market pushing wages higher combined to boost inflation to its highest level since the early 1980s, causing the Federal Reserve Board to aggressively raise interest rates by 225 basis points between January and August 2022.