Reports

Economically, the Mid-Hudson region is relatively prosperous: county median incomes and property values are both well above the State and national averages as are the costs of living and doing business there. Current unemployment is below 5 percent in most of the counties, with a significant number of residents commuting to New York City. Recent economic development efforts have focused on attracting biotechnology and other high-tech manufacturing and on activities that take advantage of the region’s extensive road systems and generally well-developed infrastructure.

The New York State Minority and Women-Owned Business Enterprise (“MWBE”) Asset Management and Financial Institution Strategy (Chapter 171, Laws of 2010) was enacted to codify and replicate best practices for providing MWBEs (or firms) that are asset managers, investment banks and financial and professional service providers with the opportunity to offer services to fiduciary-controlled entities established by New York State law.

This report, one in a series of reports by Comptroller DiNapoli on public authorities in New York State, summarizes the revenues, expenditures, employment and certain other key data of the Capital District Transportation Authority (CDTA).

New York State’s hotel industry has experienced a decade of strong growth, driven by an increase in tourism. A record number of visitors (227.5 million) came to New York State in 2014, and a new record was likely set in 2015.

New York State continues to experience record numbers of homeless people. Generally, the focus of media coverage and policy discussions is on New York City and other large metropolitan areas as they contain the largest populations of homeless.

It seems that every community in New York State is experiencing the heartbreak of lives lost to prescription opioid abuse and heroin addiction.

This report provides an analysis of annual financial data reported to the Office of the State Comptroller and the Authorities Budget Office by IDAs for fiscal year 2014, discusses regional impacts and highlights a new law championed by Comptroller DiNapoli, which increases transparency in IDA operations.

In the 2015-2016 fiscal year, State agencies paid interest totaling $1,462,835, representing a decrease of $62,277 from the prior year.

Although overall results have improved, State agencies continue to have difficulty meeting established time frames. In 2015, State agencies reported that 61 percent of grant contracts with NFPs were not approved by the start or renewal date. This compares with 77 percent as reported in 2014.

On April 26, 2016, the Mayor of the City of New York released his executive budget for FY 2017 and a financial plan (“the April Plan”) for fiscal years 2016 through 2020.

New York State ended State Fiscal Year (SFY) 2015-16 in an improved fiscal position, largely reflecting an influx of non-recurring resources.

New York State’s short-term fiscal picture has improved in recent years, thanks to factors that include an extraordinary level of one-time financial settlement resources.

The State Fiscal Year (SFY) 2016-17 Enacted Budget includes a significant increase in school aid as well as a multibillion dollar reduction in personal income taxes to be phased in over nearly a decade.

Since taking office in 2007, I have made the environment one of my office’s top priorities. I’ve enacted green agency operations at my own office while helping other State agencies become more environmentally friendly.

This brief focuses on prolonged foreclosure activity in New York State and the challenges facing local governments and communities in the wake of the foreclosure crisis.

This report examines the recent history of school aid, highlighting the opportunities and challenges presented by this year’s budget. The first section looks at aid from the school district perspective, followed by a discussion in the context of New York’s overall budget.

Small businesses play a big role in the New York State economy.

The average bonus paid in New York City’s security industry declined by 9 percent to $146,200 in 2015 as industry-wide profits declined by 10.5 percent.

On January 21, 2016, the Mayor released his preliminary executive budget for FY 2017 and a financial plan (the “January Plan”) for fiscal years 2016 through 2020.

Growth in tax receipts and lower-than-anticipated spending through the first three quarters of SFY 2015-16 have bolstered the State’s fiscal position as it approaches a new fiscal year.