The Metropolitan Transportation Authority (MTA) is facing the greatest crisis in its long history, with few viable options without federal funding to avoid cuts in service and staff, additional fare hikes and long-lasting damage that could impair regional transit for decades, according to New York State Comptroller Thomas P. DiNapoli’s annual report on the MTA’s finances.
Having no heat or hot water is a hazard that is supposed to be addressed in 24 hours, but the city’s Department of Housing Preservation and Development (HPD) has likely missed numerous complaints because it wrongly thought they were duplicates, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
New York City’s restaurant industry had 23,650 establishments in 2019, provided 317,800 jobs, paid $10.7 billion in total wages citywide and delivered nearly $27 billion in taxable sales, but many restaurants and bars have closed or significantly reduced their operations because of the COVID-19 pandemic, leaving tens of thousands unemployed, according to a report released today by State Comptroller Thomas P. DiNapoli.
Limited course offerings and lack of access to advisors may be keeping students at the City University of New York (CUNY) from graduating within four years, according to an audit released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli released the following statement in response to the Metropolitan Transportation Authority's announcement of its plans for severe cuts and other measures, if it does not receive needed federal assistance:
New York State Comptroller Thomas P. DiNapoli today released an audit of the New York City Department of Homeless Services’ (DHS) efforts to make capital improvements to shelters. The audit found that badly-needed shelter repairs are too often delayed with little or no explanation, allowing conditions to deteriorate further and, in some cases, forcing residents to relocate.
New York City, New York state and the Metropolitan Transportation Authority all need additional federal aid to mitigate the impact of the COVID-19 pandemic on their budgets and a failure to aid one could adversely affect the others, according to a review of the city’s financial plan released today by New York State Comptroller Thomas P. DiNapoli.
Recent unemployment claims suggest that most of New York City’s job gains over the past decade have been lost due to the economic impacts of the coronavirus. The city now forecasts its economy will shrink by 12.9 percent in 2020, according to a report released today by New York State Comptroller Thomas P. DiNapoli. Tax collections are projected to fall next fiscal year for the first time since the Great Recession.
The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability, according to annual estimates released today by New York State Comptroller Thomas P. DiNapoli.
The Metropolitan Transportation Authority is expected to devote one-fifth of total revenue to debt service by 2023 as it relies increasingly on borrowing to finance its capital needs, leaving a smaller share of revenue for other priorities and hindering budget flexibility during an economic setback, according to a report released today by State Comptroller Thomas P. DiNapoli.
