Historic federal pandemic relief funds, though being spent down, continued to boost New York’s balance of payments in Federal Fiscal Year 2022. For every dollar New York sent to the federal government in tax receipts, it received $1.06 back in federal spending, as compared to a national average of $1.28, ranking New York 39 out of 45 states with a positive balance of payments. This report is the eighth in a series by the Office of the State Comptroller that examines the flow of funds between the federal government and the states.

The majority of New York City’s capital projects are over their initial budgets and behind schedule, suggesting better monitoring and reporting could lead to adjustments to improve capital project delivery. Recent reforms to the City’s capital planning process have focused on improving the delivery of projects, but little detail is available in public documentation about what is fueling these cost and schedule overruns. With closer, more uniform monitoring of capital projects, the City can better identify where additional improvement is needed.