The greater downtown Brooklyn area is home to world-class arts and cultural organizations, such as the Brooklyn Academy of Music (BAM).
Reports
See Audits to search for audits related to State agencies, NYC agencies, local governments, school districts and public authorities.
July 2012 —
July 2012 —
The greater downtown Brooklyn area is the civic center of Brooklyn and includes the largest business district in New York City outside of Manhattan.
July 2012 —
One year ago, New York City projected a budget gap of $4.6 billion for FY 2013 and out-year gaps that reached $4.9 billion. Since then, the City has successfully closed the FY 2013 budget gap and narrowed the FY 2014 budget gap to $2.5 billion without raising taxes or cutting basic services. Most of the improvement, however, has not come from higher revenue forecasts, but from drawing down reserves and other nonrecurring resources.
June 2012 —
On July 1, 2012, the interest rate on subsidized Direct Federal Loans for college students (also known as Stafford Loans) is set to revert to 6.8 percent for new loans, unless the U.S. Congress acts to prevent the increase.
June 2012 —
School districts can use EBALR moneys to make cash payments to employees for accrued leave time due to them when they leave school district employment. OSC certified the excess EBALR funds that school districts had reserved, but could not legally use, so district officials could put these moneys to productive use to pay for operating costs.
June 2012 —
Nearly one year ago, New York City adopted a balanced budget for FY 2012, but projected a budget gap of $4.6 billion for FY 2013, and even larger gaps for subsequent years. On May 3, 2012, the Mayor issued his executive budget for FY 2013 and an associated four-year financial plan (the “May Plan”). The City now projects a modest surplus for FY 2012, a balanced budget for FY 2013, and out-year budget gaps that average $3.3 billion.
June 2012 —
New York is embarked on a new era of State and local fiscal policy. The State is working to resolve longstanding budgetary problems through ambitious policy changes, the full impacts of which will become clear only over time.
May 2012 —
In 2011-12, vendors were paid interest totaling $1,925,986, representing an increase of $526,531, or more than 37 percent, above the prior year.
May 2012 —
New York added more jobs in the past two years than previously reported, according to revised data from the New York State Department of Labor.
May 2012 —
In 2010, the 114 active IDAs located throughout the State supported 4,444 projects and provided total tax exemptions of nearly $1.3 billion.
April 2012 —
Cost containment actions in the State Fiscal Year (SFY) 2011-12 Enacted Budget, including spending caps for State-funded Medicaid and school aid, have greatly reduced the structural deficit that has long plagued the State.
April 2012 —
This report briefly describes that the average allowable levy growth is 3 percent, rather than the 2 percent voters may be expecting.
All tax cap elements, as reported by school districts to the Office of the State Comptroller, are provided in the accompanying tables.
Tax Cap Elements by County [xls] | Tax Cap Elements by Region [xls] | Tax Cap Elements by School [xls]
April 2012 —
This is the eighth in a series of reports on the progress of the capital security program of the Metropolitan Transportation Authority (MTA).
March 2012 —
In June 2011, New York City projected a balanced budget for FY 2012 but a large budget gap of $4.6 billion in FY 2013, and even larger gaps in subsequent years. On February 2, 2012, the City issued a revised financial plan (the “February Plan”). The City has closed the FY 2013 budget gap and narrowed the outyear gaps to $3 billion in FY 2014 and about $3.5 billion in subsequent years. Most of the improvement comes from freeing up reserves (nearly $5 billion), proceeds from the anticipated sale of taxi medallions ($1 billion) and savings from agency actions.
March 2012 —
This report briefly describes the impact of the housing market crisis on New York State. The report also highlights the results of a survey by OSC on whether local officials are utilizing the 2009 law requiring foreclosing lenders to maintain vacant or abandoned properties.
March 2012 —
The Tuition Assistance Program (TAP) is among the nation’s largest state‐ sponsored, need‐based grant programs for student aid.
March 2012 —
An era of tight budgets has sparked renewed interest in reducing government costs and identifying ways for State agencies to function more cost effectively. To help identify opportunities to achieve more efficient State operations, the Office of the State Comptroller has prepared this statistical overview of overtime use by State agencies over the past five years.
February 2012 —
Cash bonuses paid to New York City securities industry employees are forecast to decline by 14 percent to $19.7 billion during this year’s bonus season.
February 2012 —
Local sales tax collections grew by $650 million, or 5 percent, from 2010 to 2011, compared to a growth rate of 9.9 percent between 2009 and 2010. However, nearly a third of the 2010 growth was attributable to a sales tax rate increase in New York City. Without this, growth would have been about 7 percent.
February 2012 —
As Chief Fiscal Officer for the State of New York, the Comptroller annually examines the Executive Budget proposal and the Enacted Budget, as well as issues monthly reports on the State’s cash position. This report provides an analysis of the State Fiscal Year (SFY) 2012-13 Executive Budget.