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New York’s Economy and Finances in the COVID-19 Era (July 1, 2021)

Personal income in New York State has surpassed pre-pandemic levels; while this is a positive development, there are two causes for concern. First, growth is primarily due to transfer receipts paid to New Yorkers from the government, which account for more than 20 percent of personal income. Second, earnings in seven industrial sectors, including the leisure and hospitality sector that was hardest hit during the pandemic, have not yet returned to pre-2020 levels.

State Contract and Payment Actions in May

In May, the Office of the State Comptroller approved 1,325 contracts for state agencies and public authorities valued at $1.3 billion and approved nearly 18.9 million payments worth more than $19.1 billion.

2020 Annual Report on Preschool Special Education

In 2020, OSC completed 10 audits of preschool special education providers' expenses submitted to SED. These audits cumulatively identified over $4.4 million in recommended disallowances, or more than 3 percent of the total claimed expenses of $139.3 million for the audit period.