Reports

The pandemic required a shift in agency operations, initially changing traffic patterns and requiring a pause in construction and repair work. As the City began its recovery, adaptations were needed to expand outdoor public space to encourage economic activity amid the public health crisis. The agency managed the administration and enforcement of the Open Streets and Open Restaurants programs.

New York City’s published financial plan includes funding for some recurring spending initiatives for only a limited period, creating additional risks to already identified budget gaps. The Office of the State Comptroller has created a tool to identify sources and uses of funds for City programs that are not fully funded during the remaining years of the City’s financial plan, through Fiscal Year 2025

While the Dedicated Highway and Bridge Trust Fund was intended to provide a reliable, dedicated stream of funding for the State’s transportation projects, it long ago ceased to serve this purpose and is now largely devoted to repaying past borrowings and supporting current operating costs. As a result, vital highway and bridge projects are at increased risk because the State continues to use these limited resources primarily for purposes other than financing current capital projects.

This report profiles local government spending on roads. It also looks at the aid that local governments receive from the State and the federal government for road-related purposes. Lastly, the report examines data availability related to the condition of locally owned roads, the risks of flooding and other climate events, and the financial needs for road maintenance and improvement.

This snapshot highlights the FSMS results for school districts that reported for the school year (SY) ending on June 30, 2021. It also discusses the challenges that school districts faced in SY 2020-21, the first full year of operations under pandemic conditions.

This annual report summarizes the results of all the State agency and public authority audit reports issued by the Office of the State Comptroller from October 1, 2020 through September 30, 2021.

This listing includes all final audit reports related to State agency and public authority operations issued during the five-year period from October 1, 2015 through September 30, 2020, and is a companion to the 2020–2021 Annual Report on Audits.

New York State’s prison population declined by half from March 2008 to March 2021. However, the number of older incarcerated individuals increased marginally over the same period. This report examines the factors contributing to the population change and the medical cost implications.

When the COVID-19 pandemic began, many businesses in retail trade, restaurant, and arts, entertainment and recreation closed. This report examines the damage the pandemic has inflicted on those sectors, and considers the distribution of federal funds for businesses in the City, particularly for businesses in low- and moderate-income communities and in historically underutilized business zones.

A look back at some of the major accomplishments of the Office of the New York State Comptroller in 2021, including achieving a record 33.5% investment return for the State pension fund, protecting the pension fund by divesting from coal and oil sands companies while investing in sustainable and low-carbon opportunities, tracking employment and economic trends while closely monitoring pandemic relief programs, returning $348 million in lost money to rightful owners, and more. 

New York City forecasts a surplus of $965 million in the fiscal year ending in June 2022, based largely on the receipt of $750 million in unrestricted federal aid, and projects outyear gaps to drop by nearly a third from earlier estimates. Despite the positive news, the Office of the State Comptroller has identified several risks that could pose challenges to the City’s budget in the future.

Statewide local sales tax collections grew by 17.5% in November compared to the same month in 2020. Overall, local collections totaled almost $1.6 billion, up $235 million from November of last year. Collections for the month were also notably robust when compared to pre-pandemic levels, up 9.2% (or $133 million) from November of 2019.

Regional Table [.xlsx]

Monthly enrollment in the Medicaid program has grown by about 5 percent per year since January 2007, and exceeded 7 million for the first time in February 2021. This report discusses the factors that have driven growth in Medicaid enrollment and the resulting cost impacts, the relationship between Medicaid enrollment and economic indicators, and the cost implications if the Division of the Budget's anticipated enrollment reductions fail to materialize.

Flushing, and the surrounding neighborhoods that make up the greater Flushing area, enjoyed outsized employment and business growth from 2000 until Queens became the epicenter of the COVID-19 pandemic. Local challenges that existed before the pandemic, such as affordable housing and broadband access, have made recovery more difficult, but key positive indicators such as job recovery are reasons for optimism.

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The Metropolitan Transportation Authority is facing significant long-term financial challenges, including risks to its capital plan and pressure from escalating debt, while the impacts of climate change demand a sharper focus on preparation for and response to extreme weather events. The passage of the Infrastructure Investment and Jobs Act offers a boost for the agency’s capital plan, but also heightens the need for appropriate prioritization of capital projects. This report uses the latest needs assessment to measure the progress in completing projects and making capital commitments, as of September 2021.

The Office of the State Comptroller received 16,356 contract transactions, including both new contracts and contract amendments, valued at $235 billion in the calendar year 2020. The average time from agency contract submission to final sign-off was 5.8 days.

Businesses in New York were more severely impacted by the COVID-19 pandemic in the spring of 2020 than in the rest of the nation, and the negative impacts on small businesses with less than 500 employees persist. In addition, small businesses report facing new challenges with hiring difficulties and with supply chains. Nevertheless, one in five small businesses reported a return to normal operations in October 2021, there have been significant improvements in several sectors, and applications for new businesses are surging, which bodes well for the economic recovery.

Local sales tax collections in New York grew by 12.9% in October compared to a year ago, State Comptroller Thomas P. DiNapoli announced. Collections for all localities totaled more than $1.5 billion, up $175 million from October 2020.

Regional Table [.xlsx]

In early 2021, New York City established a rainy-day fund, to better prepare for financial downturns. This report lays how the City can ensure resources are available when needed, by establishing a clear and written purpose for the funds, creating targets for how much should go into the fund each year and setting the conditions for withdrawals. The report also found the City’s reserve policies are not as robust as other large U.S. cities, and with recent changes in State and local law enabling the use of these funds, recommends the City define how these resources are accumulated and used.

The Office of the State Comptroller prepares this report to enhance public discussion of the State's economy and budget. OSC estimates the State’s tax revenues will grow 22 percent in SFY 2021-22, 4.7 percent SFY 2022-23, and 3.2 percent in SFY 2023-24.