State Comptroller DiNapoli Releases Municipal & School Audits
New York State Comptroller Thomas P. DiNapoli today announced the following local government and school audits were issued.
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DiNapoli: State Tax Receipts Higher Than Updated Projections Through the First Half of the Year
State tax receipts totaled $51.5 billion through the first six months of State Fiscal Year (SFY) 2023-24, $1.7 billion higher than estimates released in the Division of the Budget’s (DOB) July Update to the Enacted Budget Financial Plan. However, tax receipts were $6.9 billion lower than the first half of SFY 2022-23, according to the monthly State Cash Report released today by New York State Comptroller Thomas P. DiNapoli.
DiNapoli: NY State Pension Fund Purchases $20 Million in State of Israel Bonds
The New York State Common Retirement Fund has purchased an additional $20 million in Israel bonds offered by Development Corporation for Israel, New York State Comptroller Thomas P. DiNapoli announced today. The purchase brings the state pension fund’s holdings in Israel bonds to $267.8 million.
Agency Services Monitoring Tool
Balancing New York City’s budget each fiscal year is critical and is required by City and State law. However, budget constraints can impact the City’s ability to provide adequate public services for its residents, workers and prospective visitors. In New York City, the demand for services is especially high, being the most populous municipality in the country by far with more than eight million residents.
DiNapoli: Huntington Man Charged With Stealing Over $56,000 in State Pension Payments
New York State Comptroller Thomas P. DiNapoli and Suffolk County District Attorney Raymond A. Tierney today announced the arrest of former Town of Huntington employee Moses K. Johnson, 63, of Huntington, for allegedly stealing his mother’s public pension payments following her death in April of 2021.
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The Securities Industry in New York City, October 2023
Wall Street’s 2023 first half profits of $13 billion were down 4.3% from the same period last year but tracked the industry’s return to pre-pandemic levels of revenue after record profits in 2020 and 2021. Financial firms’ interest expenses were seven times higher in 2022 than in 2021. Data for 2022 will likely show a decline in the industry’s economic contribution, back to pre-pandemic levels (14.5% in NYC in 2019), reflecting the drop in firms’ profitability.
DiNapoli: Wall St. First Half Profits Total $13 Billion, Down From 2022
Wall Street’s 2023 first half profits of $13 billion were down 4.3% from the same period last year but tracked the industry’s return to pre-pandemic levels of revenue after record profits in 2020 and 2021, according to State Comptroller Thomas P. DiNapoli’s annual report on the performance of New York City’s securities industry.
HB - Wall Street’s First Half Profits of $13B Down 4.3% From Last Year
Domestic, Global Volatility May Test Resilient Securities Industry.
DiNapoli: Mobile Sports Betting Adds to State Revenue, But Calls to Problem Gambling Hotline Rise as Gaming Expansion Continues
State collections from the taxes on mobile sports betting totaled $727.4 million in State Fiscal Year (SFY) 2022-2023 and have continued to grow in the first quarter of the current fiscal year, according to a report by State Comptroller Thomas P. DiNapoli. With the legalization of mobile sports betting, the New York State Gaming Commission noted a 26% increase in problem gambling-related calls to the Office of Addiction Services and Supports (OASAS) from 2021 to 2022.