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Are Local Governments Approaching a Fiscal Cliff?

This report examines the ways that funding received by local governments – from federal stimulus programs – as well as volatile annual state and local revenue sources – can impact local budgeting. The temporary nature of the federal stimulus funds in combination with state aid that has not kept pace with inflation, sales tax growth that has returned to lower pre-pandemic levels, and flat property tax revenue growth can put local governments closer to the edge of the fiscal cliff if not carefully managed.

DiNapoli: Better DEC Oversight of Dams Recommended To Prevent Failures and Safeguard Communities

The New York State Department of Environmental Conservation (DEC) should improve oversight and enforcement of compliance with the state’s dam safety regulations to guard against potential costly and life-threatening failures, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.

DiNapoli Warns Changing Fiscal Landscape Could Increase Budget Challenges for Local Governments

The expiration of one-time federal pandemic aid, combined with state aid that has not kept pace with inflation and slower growth in local revenue may push some local governments closer to the edge of a fiscal cliff, according to a report released today by State Comptroller Thomas P. DiNapoli. The report provides an overview of these revenue sources and how they have affected local budgets in recent years.

DiNapoli: State Pension Fund Valued at $273.4 Billion at End of Third Quarter

New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $273.4 billion at the end of the third quarter of State Fiscal Year 2024-25. For the three-month period ending Dec. 31, 2024, Fund investments returned an estimated -0.14%.

Report on the State Fiscal Year 2025-26 Executive Budget

This assessment of the proposed Executive Budget identifies risks and concerns that underscore the importance of taking action to address the trajectory of State spending and improve the State’s structural imbalance, while continuing to bolster the State’s rainy day reserves. After several years of benefitting from extraordinary pandemic relief funding, the federal-state relationship may be changing in ways that could result in cuts to key State programs, especially in health and social services. The need to strengthen the State’s fiscal position has never been greater.

Thousands of State Computers and Other IT Devices Unaccounted for or Stored With Lax Security

The state’s Office of Information Technology Services’ (ITS) lax inventory records have led to thousands of computers and other costly information technology (IT) equipment being unaccounted for, and the agency destroys new and barely used devices rather than donating or selling them, according to an audit released today by State Comptroller Thomas P. DiNapoli.

Former Avon Police Chief Pleads Guilty to Stealing Federal Funds

U.S. Attorney Trini E. Ross announced today that that Joseph Geer, 40, of Caledonia, NY, pleaded guilty before Chief U.S. District Judge Elizabeth A. Wolford to theft of funds related to a federal program, which carries a maximum penalty of 10 years in prison, and a fine of $250,000.

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