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A Review of Capital Needs and Resilience at the MTA

The Metropolitan Transportation Authority is facing significant long-term financial challenges, including risks to its capital plan and pressure from escalating debt, while the impacts of climate change demand a sharper focus on preparation for and response to extreme weather events. The passage of the Infrastructure Investment and Jobs Act offers a boost for the agency’s capital plan, but also heightens the need for appropriate prioritization of capital projects.

DiNapoli: MTA Needs to Refocus Attention on Overdue Upgrades and Preparations for Extreme Weather

The MTA should publish a new assessment of its long-term capital needs that pays particular attention to the growing threat climate change poses to transit, and its most recent 20-year needs assessment shows many capital needs are overdue for attention, according to Comptroller Thomas P. DiNapoli’s latest report.

State Comptroller DiNapoli Statement on New York City Financial Plan

"New York City’s November 2021 Financial Plan modification indicates that the recovery is underway, but that its trajectory is uncertain, with employment growth and improvement in the commercial real estate market expected to slow from earlier projections. The updated financial plan highlights why smart use of the city’s federal relief funds and better-than-projected revenues are necessary to shore up reserves.

COVID-19 Pandemic Drove Record Medicaid Enrollment in 2021

A record number of New Yorkers relied on Medicaid for health care in 2021, with monthly enrollment exceeding 7 million for the first time, according to a new report by New York State Comptroller Thomas P. DiNapoli. While enrollment has grown by about 5% per year over the last 15 years, increasing from about one in seven New Yorkers in 1998 to one in three in 2021, state budget projections rely on expectations for significant enrollment declines that may not materialize.

State Contract and Payment Actions in October

In October, the Office of the State Comptroller approved 1,553 contracts for state agencies and public authorities valued at $1.6 billion and approved more than 2.5 million payments worth more than $11.2 billion. The office rejected 137 contracts and related transactions valued at $218.3 million and more than 3,700 payments valued at nearly $11 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.

Hero Banner - Chanukah

“As we celebrate this Festival of Lights, we extend our best wishes for a peaceful and joyous Chanukah to all of our Jewish friends.”

Hero Banner - Thanksgiving

“We wish you and your loved ones good health and safety as you gather to enjoy the people and parts of life for which we are most thankful. Happy Thanksgiving!”

Small Businesses and the Economic Recovery: Work in Progress

Businesses in New York were more severely impacted by the COVID-19 pandemic in the spring of 2020 than in the rest of the nation, and the negative impacts on small businesses with less than 500 employees persist. In addition, small businesses report facing new challenges with hiring difficulties and with supply chains. Nevertheless, one in five small businesses reported a return to normal operations in October 2021, there have been significant improvements in several sectors, and applications for new businesses are surging, which bodes well for the economic recovery.