Like many cities across the United States, New York City has adjusted its budget priorities during the COVID-19 pandemic to help address pressing needs, but some new critical programs and services may face fiscal cliffs, according to a new report from State Comptroller Thomas P. DiNapoli. The report compared the city’s pre-pandemic and current preliminary budgets for Fiscal Year 2024 (FY24) to examine how spending priorities shifted.
New York State Comptroller Thomas P. DiNapoli released the following statement on New York City Mayor Eric Adams' State of the City address:
“The State of the City address delivered by Mayor Eric Adams put forth his vision for a city that keeps New Yorkers safe and prioritizes the economy, affordable housing and essential services. I commend the mayor's bold plan of action for a city that supports working families.
New York State Comptroller Thomas P. DiNapoli released the following statement on New York City’s fiscal year (FY) 2024 preliminary budget proposal:
New York State Comptroller Thomas P. DiNapoli, Brooklyn District Attorney Eric Gonzalez and the United States Postal Inspection Service today announced the arrest of Gennady Galker for allegedly stealing checks from Brooklynites and using a stolen identity to further his scheme. Galker is accused of thefts totaling $31,149, including a $1,148 check from DiNapoli’s Office of Unclaimed Funds, and various checks from the Jewish Communal Fund intended for area charities.
New York State Comptroller Thomas P. DiNapoli released the following statement today regarding the Metropolitan Transportation Authority’s (MTA) adoption of its 2023 budget:
New York City’s fiscal year (FY) 2023 budget is projected to rise to $109.4, after transfers, but City finances could come under pressure amid a slowing economic recovery and an increase in demand for City services. For the upcoming FY 2024 preliminary budget, State Comptroller DiNapoli urges the City to provide a realistic and transparent view of the City’s revenue and expenses and take actions to close out-year gaps while maintaining critical services.
New York City’s fiscal year (FY) 2023 budget is projected to rise to $109.4 billion (adjusted from $104 billion after surplus transfers), reflecting continued improvement in the city’s fiscal position since June, but city finances could come under pressure amid a slowing economic recovery and an increase in demand for city services, according to State Comptroller Thomas P. DiNapoli’s analysis of the city’s November financial plan update.
More than two years after the height of the COVID-19 pandemic, young people in New York City continue to face double-digit unemployment, with young men experiencing the greatest challenges in finding work, according to a report released today by State Comptroller Thomas P. DiNapoli. Unemployment among 16- to 24-year-olds stands at nearly 18% in the city, as compared to about 9% in the rest of New York state and 8% nationally.
More than two years after the height of the COVID-19 pandemic in New York City, young people are still facing double-digit unemployment. There are currently over 70,000 unemployed young workers in the City, nearly two times as many as in 2019. Young men are struggling the most with nearly 24% remaining unemployed, significantly higher than in the rest of New York State and the nation.
The Metropolitan Transportation Authority’s (MTA) proposal to reduce budget gaps through 2028 by an average of $915 million annually by paying down debt raises questions on how it will find additional savings and revenue to fund operations when federal aid runs out, according to a report issued today by State Comptroller Thomas P. DiNapoli.
