Local Government Publications

This booklet provides guidance on the implications of the Constitutional tax limit, information on its calculation and instructions for filing.

Reflecting the turmoil on Wall Street and in the national and global economies, New York State’s budget shortfalls continue to worsen. Clearly, we are in very difficult fiscal times. By acting early, controlling spending and avoiding tempting budgetary gimmicks, state and local leaders can continue to deliver vital services now, while ensuring sound financial operations in the future. School district officials should find the information in this report useful as they consider ways to improve their own operations.

The purpose of this bulletin is to update and revisit our 1994 bulletin. This revision includes additional guidance on the types of liabilities that should be included as part of the compensated absences liability, clarifies the differences between current and long-term compensated absences liabilities, and discusses funding for compensated absences as it applies to the General Municipal Law (GML) §6-p “Employee Benefit Accrued Liability Reserve Fund (EBALR).”

Compared with other states, particularly those in the South and West, significantly fewer subprime loans were issued in New York, although there are areas within the State where subprime mortgages were utilized more frequently. However, the number of home foreclosures in New York is increasing as more homeowners are faced with mortgages of all types that they can no longer afford.

The current global financial market crisis could have serious implications for New York’s local governments if access to the credit markets remains constrained. While many long-term implications for local government finances may occur as a result of the broader deterioration in the economy, the credit situation has produced a more immediate impact on liquidity – the ability of local governments to finance their short-term capital operations and cash flow needs. Local governments who are dependent on short-term debt for these purposes could face continued risks.

The 2008 Annual Report on Local Governments introduces a new look to the annual local government financial data reported by every county, city, town, village, school district and fire district in New York State. In an effort to promote transparency and accountability, OSC has now made much of the data reported to it from 1996 to 2006 accessible through Open Book New York– a new, user-friendly website that also provides information on spending by State agencies, as well as all State contracts.

State law requires that all deposits and investments with banks or trust companies (e.g., checking accounts, time deposit accounts, certificates of deposit, etc.) in excess of FDIC coverage be properly secured.

This report examines some of the various options proposed to reduce local property tax growth.

Sales taxes are an important source of revenue for New York State's local governments. This revenue stream has helped local governments cope with the rising cost of providing services and mitigate property tax increases. Sales tax revenues now exceed the real property tax as the largest revenue source for counties.

This guide is designed to help you analyze the financial condition of your local government or school district.

The purpose of this bulletin is to provide LOSAP sponsors model notes that should be included with their annual financial reports. These notes will provide increased disclosure about the financial condition and operations of LOSAP’s. Revised August 2008 (Originally Issued January 2008)

Model Notes:
Defined Benefit Plans [pdf]
Defined Contribution Plans [pdf]

Since the cost of electricity represents a considerable burden to local governments and their taxpayers, this report focuses on initiatives that reduce electric bills and the consumption of electricity overall, as well as the consumption of electricity generated through traditional methods.

As previous reports by the Office of the State Comptroller have pointed out, the terms city, town and village have more to do with history than they do with presentday governmental function.2 This report looks at urban villages as one type of municipal government that has been impacted by these historic designations.

This report provides an overview of financial and employment trends of the 116 active Industrial Development Agencies (IDAs) in New York State.

New Yorkers spend tens of billions of dollars on education each year. After three years of auditing how school districts manage their finances, we have seen dramatic progress. In 2007, OSC issued 257 audits of schools. As part of our audit effort, we highlight the best practices of the school districts that are well managed so that others around the state can learn from them. For those needing more assistance, our audits also offer practical recommendations to help schools operate more effectively and efficiently. For instance, we continue to find problems with how schools are designing their controls for information technology and what employees are being paid when they leave.

This report outlines major local government fiscal trends and highlights recent policy developments that affect their financial health. It also summarizes the services and activities of the Division of Local Government and School Accountability, where staff in Albany and eight regional offices across the State are committed to promoting taxpayers’ interests by helping to improve the fiscal management of local governments and schools within New York.

New York State and its local governments maintain an extensive infrastructure critical to the economy, including roads, bridges, educational facilities, water and sewer systems and medical facilities. Most of this capital investment is financed through the issuance of long term debt. Investment in such infrastructure maintains and improves the vitality and economic well being of our communities. However, when governments rely excessively on debt, especially to pay for current operating costs, the long term costs of supporting the debt will impact current as well as future operating budgets by limiting financial flexibility and the ability to finance essential capital projects in the future.

This report provides an overview of their finances, including data for School Districts fiscal years ending in 2004 and 2005.

This report provides an overview of their finances, including data for Fire Districts fiscal years ending in 2004 and 2005.

This report provides an overview of their finances, including data for Villages fiscal years ending in 2004 and 2005.