Just a year after the Division of the Budget forecast fiscal stability and no projected budget gaps in the State Fiscal Year (SFY) 2022-23 Enacted Budget Financial Plan, the SFY 2023-24 plan shows looming gaps cumulatively totaling $36.4 billion through SFY 2026-27. Reasons for the deteriorating fiscal outlook include declines in revenue from a weaker economic forecast, stock market volatility, and increases in recurring spending, according to a report by State Comptroller Thomas P. DiNapoli.

State tax receipts totaled $27.6 billion through the first quarter of State Fiscal Year (SFY) 2023-24, $450.8 million higher than estimates released in the Division of the Budget’s (DOB) Enacted Budget Financial Plan. However, collections were $6.8 billion lower than last year through the quarter ending in June 2022, according to the monthly State Cash Report released by New York State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund’s (Fund) investment return was -4.14% for the state fiscal year that ended March 31, 2023. The Fund closed the year valued at $248.5 billion.

The recent announcement that New York state will get nearly $665 million in federal funding to invest in improvements to broadband availability gives the state an opportunity to accelerate universal deployment of the highest-speed connections in every corner of the state, according to a new analysis released by State Comptroller Thomas P. DiNapoli.

In May, the Office of the State Comptroller approved 2,046 contracts for state agencies and public authorities valued at $2.2 billion and approved more than 2.5 million payments worth nearly $17.1 billion. The office rejected 192 contracts and related transactions valued at $309 million and more than 3,100 payments valued at nearly $19.1 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.

New York’s Health Department (DOH) and Division of Homeland Security and Emergency Services (DHSES) can do more to protect the state’s water systems from attacks and the threats posed by natural disasters like storms, according to an audit released today by State Comptroller Thomas P. DiNapoli.

The New York State Common Retirement Fund (Fund) reached agreements with seven portfolio companies to enhance disclosure of their spending on political causes, New York State Comptroller Thomas P. DiNapoli, trustee of the Fund, announced today.