State Contract and Payment Actions 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.
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DiNapoli: Local Sales Tax Collections Up 21% in First Quarter of 2022
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 Comptrol
Hero Banner - Local Sales Tax Collections (April 2022)
State Comptroller DiNapoli found sales collections grew by 21.1% in the first quarter.
State Fiscal Year 2022-23 Enacted Budget Analysis
New York State Comptroller DiNapoli on NYC Executive Budget
“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.
Annual Update: Metropolitan Transportation Authority’s Debt Profile, April 2022
Despite unprecedented federal aid, the MTA is still faced with determining how it will close its budget gaps in the future. If riders do not return faster than the MTA projects, or if new sources of revenue are not found, rising debt payments could force the MTA to close future budget gaps through service cuts, greater than planned fare hikes, or delays to critical capital projects.
DiNapoli: Debt Adding to MTA's Financial Pressures With Riders and Fare Revenue Slow to Return
Despite unprecedented federal aid and better-than-expected state tax revenues, the Metropolitan Transportation Authority (MTA) continues to plan to use borrowing techniques that push difficult financial decisions into the future and could leave less money to pay for services, according to New Yor
DiNapoli Op-Ed in Crain's New York Business
Crain’s New York Business published an op-ed from New York State Comptroller Thomas P. DiNapoli today on the need for greater transparency and accountability in budgeting for the use of federal relief funds. The full op-ed is below:
DiNapoli: Inflation in NYC Metro Area Up 6.1% in March, Growing at Highest Rate in 30 Years
Recent data from the U.S. Bureau of Labor Statistics (BLS) indicates consumer prices grew by 6.1% in the New York City Metropolitan Area in March 2022 compared to the same month one year ago, driven by double-digit increases in the costs of energy and transportation.
Inflation in the New York City Metropolitan Area, April 2022
Accelerating consumer price increases beginning in the spring of 2021 have led to the highest inflation rate in 30 years in the New York City Metropolitan Area. Consumer spending habits have already shifted, and persistent inflation on essential household items, such as housing and food, will limit purchasing power and squeeze household budgets absent stronger wage growth.