Issued February 28, 2025
The Office of the State Comptroller (“OSC”) is seeking an Online Financial Literacy Program as detailed in the solicitation available via the links below.
The solicitation, and other information as it becomes available, is available for download through the following links:
New York State Comptroller Thomas P. DiNapoli today announced the following local government and school audits were issued.
New York City increased its expectations for its surplus in fiscal year (FY) 2025 to $2.34 billion, largely as a result of stronger tax revenue projections and a reduction in the cost of providing services to asylum seekers, which will help balance its $116.9 billion FY 2026 budget, according to a report released today by State Comptroller Thomas P. DiNapoli.
New York City increased its expectations for its surplus in fiscal year (FY) 2025 to $2.34 billion, largely as a result of stronger tax revenue projections and a reduction in the cost of providing services to asylum seekers, which will help balance its $116.9 billion FY 2026 budget. With escalating uncertainty in the federal funding environment — which could lead the State to make choices to balance its budget that pressure local government finances — preparation and transparency remain paramount to navigate the future.
Prudent Budgeting and Transparency Can Help Local Governments Avoid 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.
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.
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.
New York State Comptroller Thomas P. DiNapoli today announced the following local government audits were issued.
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%.
