From 2001 to 2011, total federal and state aid combined, grew at an average rate of 2.2 percent annually, slower than the rate of inflation (2.4 percent).
Local sales tax collections, including New York City’s, increased by 10.5 percent during the first three quarters of 2010, compared to a 9.0 percent decline in the same period the year before. However, over a third of this growth is due to sales tax rate increases and the extension of the sales tax to additional items in New York City and Nassau County. Adjusting for these tax increases, the growth in sales tax collections to date in 2010 has been about 6 percent.
New York’s dairy farms are a vital part of the upstate economy. Dairy industry losses in local communities have a ripple effect throughout their economies, negatively impacting local businesses that provide supplies or services to dairy farms, and the property and sales tax base.
In 2012, the full market value of all real property in New York State was estimated at $2.5 trillion dollars with about $826 billion exempt from one or more types of taxes. This report explores what tax exemptions are, where they are most prevalent, and what local governments may do to minimize their impact.
The purpose of this bulletin is to provide guidance related to the accounting for moneys received by County governments from the Compassionate Care Act. These revenues are derived from an excise tax on the gross receipts from the sale of medical marihuana.
The purpose of this bulletin is to provide updated guidance to local governments and school districts on the accounting for various gaming revenues. This bulletin addresses the following:
Updated July 2017 (Originally Issued February 2017)
This bulletin provides updated information on the accounting for loans received pursuant to the NYS Emergency Services Revolving Loan Account. It incorporates changes in the law and updated account codes used for reporting. All previous guidance has been incorporated into this bulletin.
Updated December 2015 (Originally Issued June 2015)
This bulletin provides information on the reporting requirements of deferred inflows of resources and deferred outflows of resources as required by Governmental Accounting Standards Board (GASB) Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position (Statement 63), and GASB Statement No. 65, Items Previously Reported as Assets and Liabilities (Statement 65).
An accounting code has been established in the Comptroller’s Uniform System of Accounts for recording revenues relating to reorganization and efficiency grants.
Federal and State Welfare Reform legislation has brought about program and funding changes which necessitate revisions to the revenue and expenditure accounts listed below. These changes are based on recent revisions to Chapter 2, Volume I, of the Fiscal Reference Manual published by the New York State Office of Temporary and Disability Assistance.
