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Review of the Financial Plan of the City of New York, December 2023

New York City faces spending risks that could increase its budget gaps for Fiscal Years 2025 through 2027 to an average of $12.6 billion annually, fueled by spending choices made during the pandemic, underbudgeting for recurring spending, and significant costs associated with the influx of asylum seekers into the five boroughs. While many of the fiscal challenges facing the City are not in its direct control, preparation and transparency remain paramount to navigating this uncertainty.

DiNapoli: NYC Fiscal Year 2024 Budget Balanced, but Out Year Gaps Continue to Grow

New York City faces spending risks that could increase its budget gaps for Fiscal Years (FY) 2025 through 2027 to an average of $12.6 billion annually, fueled by spending choices made during the pandemic, underbudgeting for recurring spending, and significant costs associated with the influx of asylum seekers into the five boroughs, according to a report released today by State Comptroller Thomas P. DiNapoli.

NYC's Shifting Population: The Latest Statistics

Population shifts during and after the COVID-19 pandemic are changing the face of New York City. In the wake of the pandemic, the City’s populace is overall older and wealthier, with a rebounding population of international migrants and declining shares of White and Black New Yorkers. The cost of living also rose as the pandemic subsided, making the City increasingly more expensive for lower income New Yorkers, who left in greater numbers in 2022.

DiNapoli: Taxpayers Moving Out of State Spiked in 2020, Led by Those Leaving NYC

A report released today found more than one of every 100 resident personal income tax (PIT) filers left New York state in 2020, according to State Comptroller Thomas P. DiNapoli. The COVID-19 pandemic caused a significant shift in taxpayer movement, with net out-migration quadrupling in 2020 compared to the prior year. While declining in 2021, the net number of taxpayers leaving remained one-third greater than the pre-pandemic average.

Economic Snapshot of the Hunts Point Food Distribution Center

The Hunts Point Food Distribution Center (FDC) is the largest food distribution center in the United States. The FDC distributes approximately 4.5 billion pounds of food annually, about half of which is for New York City. Modernizing FDC is critical to hardening the food supply for 22 million people in a 50-mile radius, protecting it from climate, power or other interruptions.

The South Bronx: An Economic Snapshot

The South Bronx has undergone a period of revitalization that has enabled it to thrive as a cultural hotspot within the Bronx and New York City. South Bronx residents continue to face chronic health, economic and environmental challenges, and the City is seeking to address these issues while boosting economic growth. Continued focus on community benefits and active partnership among City departments, community-based organizations, and State and federal leaders, is critical for the long-term success of the South Bronx.

DiNapoli: The South Bronx Sees Economic Growth Despite Pandemic Challenges

The COVID-19 pandemic hit the South Bronx especially hard, but the area’s economy has shown resiliency, according to a report released today by New York State Comptroller Thomas P. DiNapoli.

“The South Bronx was hard hit by the COVID-19 pandemic but was resilient because of dedicated and hardworking neighborhood groups and advocates, and the strength of its residents,” said DiNapoli. “Still, the need for more affordable housing, jobs and quality of life improvements remains pivotal to the community’s long-term success.”

MTA’s Paratransit Program: An Overview, November 2023

Costs for the Metropolitan Transportation Authority’s (MTA) program to provide transportation services for people with disabilities have declined in recent years, in part due to the MTA’s move to alternative transit services that provided $102.7 million in savings in 2022. Still, some measures of customer satisfaction initially deteriorated as a result of the move to “broker services” and must be monitored to ensure quality service.