Review of the Financial Plan of the City of New York
NYC SHOULD CONTINUE TO PREPARE FOR SHIFTING FISCAL LANDSCAPE
New York City’s fiscal position has significantly improved since June 2021. However, this was mostly due to unanticipated resources generated from a combination of factors that is not likely to occur at the same level again, and some factors have already begun to reverse. Total revenues are expected to decline by 9.4 percent in FY 2023 due to lower tax revenues and federal aid for COVID-19 relief. In total, OSC calculated risks to the City’s budget that could exceed $2 billion annually by FY 2024. The risk assessment grows to $5.9 billion in FY 2026, which could raise the budget gap in that year to nearly $9.9 billion.
COVID-19 Relief Program Tracker
BILLIONS IN NEW FEDERAL DOLLARS FLOWING TO NEW YORK
This tool monitors spending of federal recovery aid and COVID-19 relief programs in the State. The dashboard explains each federal and State program, and how much has been received and spent to date. The data is updated monthly and New Yorkers can use the tool to understand how federal aid is used and to inform future conversations about budget priorities.
Open Book New York
SEARCH STATE AND LOCAL GOVERNMENT FINANCIAL RECORDS
Comptroller DiNapoli wants New Yorkers to know how their tax dollars are spent. Without transparency in government, there cannot be accountability. Open Book New York provides comprehensive financial data on State contracts, payments, spending and more.