Reports

The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2016.

An economic recession, as the old saying goes, is when your neighbor becomes unemployed—and a depression is when it happens to you. A similar logic applies to economic recoveries: whatever the experts may say about the national outlook, most of us are especially concerned about good jobs and good wages in our own communities.

Each year when the State’s budget is enacted, much attention understandably is devoted to its immediate impact. But New York’s history shows that we also need to pay attention to the longer term.

The New York State Minority and Women-Owned Business Enterprise (“MWBE”) Asset Management and Financial Institution Strategy (Chapter 171, Laws of 2010) was enacted to codify and replicate best practices for providing MWBEs (or firms) that are asset managers, investment banks and financial and professional service providers with the opportunity to offer services to fiduciary-controlled entities established by New York State law.

New York State continues to experience record numbers of homeless people. Generally, the focus of media coverage and policy discussions is on New York City and other large metropolitan areas as they contain the largest populations of homeless.

It seems that every community in New York State is experiencing the heartbreak of lives lost to prescription opioid abuse and heroin addiction.

In the 2015-2016 fiscal year, State agencies paid interest totaling $1,462,835, representing a decrease of $62,277 from the prior year.

Although overall results have improved, State agencies continue to have difficulty meeting established time frames. In 2015, State agencies reported that 61 percent of grant contracts with NFPs were not approved by the start or renewal date. This compares with 77 percent as reported in 2014.

New York State ended State Fiscal Year (SFY) 2015-16 in an improved fiscal position, largely reflecting an influx of non-recurring resources.

New York State’s short-term fiscal picture has improved in recent years, thanks to factors that include an extraordinary level of one-time financial settlement resources.

The State Fiscal Year (SFY) 2016-17 Enacted Budget includes a significant increase in school aid as well as a multibillion dollar reduction in personal income taxes to be phased in over nearly a decade.

Since taking office in 2007, I have made the environment one of my office’s top priorities. I’ve enacted green agency operations at my own office while helping other State agencies become more environmentally friendly.

Small businesses play a big role in the New York State economy.

Growth in tax receipts and lower-than-anticipated spending through the first three quarters of SFY 2015-16 have bolstered the State’s fiscal position as it approaches a new fiscal year.

This report by the Office of the State Comptroller on use of overtime by New York State agencies examines patterns over the past nine calendar years. The total cost of overtime in calendar year 2015 was more than $716 million covering roughly 16.8 million overtime hours worked.

In 2015, OSC completed 23 audits of expenses submitted to SED by preschool special education providers. These audits have cumulatively identified over $10 million in disallowances, or about 3.4 percent of the total claimed expenses of almost $301 million for the audit period. 

New York offers a wide variety of sporting opportunities for the almost two million men and women who hunt, fish and trap in the State. More than 90 percent of New Yorkers who engage in these activities participate in fishing or in both hunting and fishing, while 9 percent participate in hunting exclusively.

New York State offers a variety of programs, services and benefits for the nearly 900,000 veterans living in the State. These programs are intended to help veterans address any challenges they may face as a result of their military service, while honoring their dedication and the sacrifices they have made on behalf of our country.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2015-16 through SFY 2017-18, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

The fiscal relationship between the federal government and the states has been a topic of debate since the founding of our nation.

Excel file with supporting data