New York State Comptroller Thomas P. DiNapoli today announced the following local government audits were issued.
City officials did not implement all recommendations in the previous budget review letter when preparing the 2022-23 proposed budget. As a result, certain significant revenue and expenditure projections in the 2022-23 proposed budget continue to be unreasonable.
New York State Comptroller Thomas P. DiNapoli and the New York State Police announced that former New York State Department of Education employee, Shannon Brady, 52, of Albany, was arrested for allegedly falsely claiming to the New York State and Local Retirement System (NYSLRS) that she never received a $4,055 loan check to get a replacement check in the same amount. Both checks were then cashed separately. This arrest was the result of a joint investigation conducted by the Office of the State Comptroller and the New York State Police.
Historic federal aid and better-than-expected revenues allowed for a steep increase in spending in the Enacted Budget. However, sustaining new recurring commitments over a longer time period may be difficult as new economic risks emerge, federal funding is spent down, and temporary tax revenues sunset. Bolstering reserve funds is essential for ensuring services New Yorkers rely on can be preserved through economic challenges and fiscal uncertainties.
Historic federal aid and better-than-expected revenues allowed for a steep increase in spending in the $220.5 billion enacted state budget for State Fiscal Year (SFY) 2022-23, according to an analysis released today by New York State Comptroller Thomas P. DiNapoli. While some of the new spending will be temporary, much of the year-over-year growth will be for new initiatives and more funding for existing programs. DiNapoli expressed concerns about the growth in capital spending and debt.
Local government sales tax collections grew by 21.1%, or $901 million, in the first quarter of 2022 compared to the same period last year. Collections for the three-month period totaled nearly $5.2 billion, with growth at least partially driven by inflation, which hit a 40-year-high in March.
In March, the Office of the State Comptroller approved 1,950 contracts for state agencies and public authorities valued at $3.6 billion and approved nearly 3.7 million payments worth nearly $35.1 billion. The office rejected 147 contracts and related transactions valued at $1.4 billion and more than 9,100 payments valued at more than $30.9 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.
Local government sales tax collections grew by 21.1%, or $901 million, in the first quarter of 2022 compared to the same period last year, according to a report released today by New York State Comptroller Thomas P. DiNapoli. Collections for the three-month period totaled nearly $5.2 billion, with growth at least partially driven by inflation, which hit a 40-year-high in March.
State Comptroller DiNapoli found sales collections grew by 21.1% in the first quarter.
“New York City released its Fiscal Year (FY) 2023 Executive Budget today, totaling $99.7 billion, allocating funds to newly announced agency initiatives and addressing a number of risks in the budget.
"The city’s short-term finances have improved dramatically from budget adoption and still has room to improve before the end of the year.
