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DiNapoli Releases Analysis of State Financial Plan

After two years of extraordinary volatility in state finances, the State Fiscal Year (SFY) 2022-23 Enacted Budget Financial Plan from the Division of the Budget (DOB) projects fiscal stability for the next five years and includes plans to bolster rainy day reserves significantly, according to a report by State Comptroller Thomas P. DiNapoli. However, DiNapoli’s analysis identifies several revenue, spending, and sustainability risks that could disrupt the Financial Plan that should be monitored closely.

DiNapoli Releases Bond Calendar for Third Quarter

New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule of planned bond sales for New York State, New York City and their major public authorities during the third quarter of 2022.

The planned sales of $8.69 billion include $7.19 billion of new money and $1.5 billion of refundings and reofferings as follows:

State Contract and Payment Actions in May

In May, the Office of the State Comptroller approved 1,326 contracts for state agencies and public authorities valued at $2.4 billion and approved more than 2.5 million payments worth nearly $15.6 billion. The office rejected 123 contracts and related transactions valued at $276.8 million and more than 4,500 payments valued at nearly $11.5 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.

DiNapoli: Rechargeable Battery Use Rising Dramatically, But State Not Enforcing Recycling Law Requirements

The state Department of Environmental Conservation (DEC) is not doing enough to ensure rechargeable batteries are recycled as required by law to protect the environment and public safety, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.

The Economic Impact of the Great Outdoors

Outdoor recreation in New York provided $21.1 billion in economic activity in 2020 and supported over 241,000 jobs. While New York ranks fourth in the nation on GDP generated by outdoor recreation, outdoor recreation represents a more significant part of the economy in nearly every other state. Efforts to bolster tourism and protect the outdoors are important for spurring greater economic activity and enhancing access to and utilization of these amenities.

State Comptroller DiNapoli Statement on Expansion of Geneva-Based RealEats into New Facility

“RealEats is a homegrown New York success story. It is meeting the growing consumer demand for healthy, easy-to-prepare dinner options that arrive at your door, many created with fresh food from the Finger Lakes,” New York State Comptroller Thomas P. DiNapoli said. “The state pension fund has invested nearly $8 million in RealEats because the company is generating results and shows significant potential as demand for online meal services increases. We’re proud to help this New York business expand into a new facility.

DiNapoli: Too Many New Yorkers Still Without High-Speed Broadband Access

Broadband access is increasingly necessary for everyday activities and especially vital for businesses, remote workers, online education and health care appointments, but Empire State Development’s (ESD) New NY Broadband Program has fallen short of its mission to bring universal broadband access to New Yorkers, according to an audit by State Comptroller Thomas P. DiNapoli.

DiNapoli: New York State Common Retirement Fund Reaches Agreements with Companies on Disclosing Political Spending

Five major U.S. companies have agreed to disclose their political spending under agreements reached with the New York State Common Retirement Fund, New York State Comptroller Thomas P. DiNapoli announced today. DiNapoli’s political spending proposal at Twitter also received a majority of support from shareholders at the company’s annual meeting, and he has since called on the company to fully implement the proposal.

Update on New York’s Unemployment Insurance Trust Fund: Challenges Continue

The devastating job losses caused by the COVID-19 pandemic led to a record number of unemployment insurance (UI) claims in New York, necessitating borrowing from the federal government beginning in May 2020. Two years later, the State’s UI debt has remained stubbornly high despite steady employment gains and state tax rates that have already increased to maximum permissible levels. Absent federal or state significant action, interest costs will mount and employers federal taxes will also grow.