Despite the many challenges we all faced last year, State Fiscal Year 2021-22 was another productive year for the Office of Unclaimed Funds, returning $404 million to rightful owners.

MetroPlus Health Plan, a subsidiary of NYC Health + Hospitals (H+H), offers low cost to no cost health insurance coverage to eligible New Yorkers. In June 2022, enrollment reached a record high, which can be attributed to conditions and policy changes spurred by the COVID-19 pandemic. Changes in MetroPlus enrollment have a direct impact on H+H's financial stability. As more of its members choose H+H as a provider, the hospital system generates more revenue.

The agriculture industry supports jobs and communities throughout New York State. The COVID-19 pandemic and economic shutdown led to job losses across almost all industries in New York, but the agricultural sector proved to be among the most resilient, losing just 1 percent of jobs in 2020 compared to a statewide annual employment loss of 8.7 percent. Both employment and wages in the farming sector grew in 2021 to reach new highs.

New York City’s fiscal position has significantly improved since June 2021. However, this was mostly due to unanticipated resources generated from a combination of factors that is not likely to occur at the same level again, and some factors have already begun to reverse. Total revenues are expected to decline by 9.4 percent in FY 2023 due to lower tax revenues and federal aid for COVID-19 relief. In total, OSC calculated risks to the City’s budget that could exceed $2 billion annually by FY 2024.