Reports

See Audits to search for audits related to State agencies, NYC agencies, local governments, school districts and public authorities.

Budget & Finances, Infrastructure, Transportation

October 2020 —

The Metropolitan Transportation Authority (MTA) is facing the greatest challenge in its history.

Economy

October 2020 —

The restaurant industry is essential to New York City’s social and economic fabric. From small, family-owned restaurants and food carts to four-star world-famous establishments, the City abounds with restaurants that offer cuisines from every corner of the globe.

Budget & Finances, Economy, Federal Issues

September 2020 —

In March and April 2020, Congress passed four stimulus bills to address the COVID-19 pandemic’s impact on the public health system and the economy. As Congress debates additional relief measures, it is worth reviewing the targeting of the initial funding in order to inform new policy to counter the virus and its economic effects.

Budget & Finances

August 2020 —

The economic, social and budgetary fallout from the COVID-19 pandemic on New York City has been unprecedented, while the loss of life has been unimaginable. Restrictions put in place to slow the spread of the disease triggered a national recession. In New York City, job losses in March and April were the largest since the Great Depression.

Budget & Finances

May 2020 —

New York City has been the epicenter of the novel coronavirus pandemic in the United States. The economic, social and budgetary impacts have been unprecedented, while the loss of life has been unimaginable.

Budget & Finances, Infrastructure, Transportation

March 2020 —

Inadequate capital funding and poor management practices have contributed to a marked deterioration in the mass transit system operated by the Metropolitan Transportation Authority (MTA). In addition, the MTA’s operating budget faces significant challenges.

Wall Street

March 2020 —

The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability.

Economy

February 2020 —

New York City is benefiting from the longest and largest job expansion since the end of World War II.

Budget & Finances

February 2020 —

On January 16, 2020, the City of New York released a four-year financial plan for fiscal years 2020 through 2024 (the “January Plan”). The January Plan reflects the strength in the local economy, which has helped fuel personal and business tax collections; new agency needs; and an expansion in the citywide savings program.

Budget & Finances

December 2019 —

On November 22, 2019, the City of New York released a revised four-year financial plan for fiscal years 2020 through 2023 (the “November Plan”). The November Plan reflects an upward revision in the City’s revenue forecast for FY 2020, increased agency spending and a citywide savings program to narrow the FY 2021 budget gap.

Economy

October 2019 —

According to data from the U.S. Census Bureau, only 41 percent of working-age people with disabilities in New York City were in the labor force in 2017.

Wall Street

October 2019 —

Despite slower global economic growth and trade tensions, pretax profits for the securities industry grew by nearly 11 percent in the first half of 2019, reaching $15.1 billion, the best first half in a decade.

Economy, Neighborhood Profile

October 2019 —

The greater Jackson Heights area in the northwestern portion of Queens (which includes East Elmhurst and North Corona) is one of the most diverse communities in New York City, with immigrants from around the world.

es: Spanish | zh: Chinese | hi: Hindu | bn: Bengali

Budget & Finances, Infrastructure, Transportation

September 2019 —

The Metropolitan Transportation Authority (MTA) is facing its greatest challenge in decades.

Infrastructure, Transportation

August 2019 —

The New York City subway system, which is used by more than 5 million riders each weekday, includes 472 stations. The system is operated by New York City Transit (NYCT), an affiliate of the Metropolitan Transportation Authority (MTA). Over the past 37 years, 287 stations have been renovated and countless others have had components repaired, at a cost of more than $6 billion.

Budget & Finances

August 2019 —

New York City is currently experiencing the largest and longest job expansion in the post– World War II period. Since 2009, the City has added 820,400 jobs, bringing employment to a record level of 4.55 million in 2018 and reducing the annual unemployment rate to 4.1 percent, the lowest on record.

Health & Welfare, Infrastructure, Transportation

July 2019 —

In January 2018, OSC initiated its series of audits to determine whether the MTA and constituent agencies have appropriate oversight and monitoring controls over homeless outreach services on MTA properties and whether they have met the goal of maintaining a safe, secure transit environment by assisting homeless individuals to appropriate shelters off MTA properties.

Budget & Finances

May 2019 —

On April 25, the Mayor released his executive budget for fiscal year (FY) 2020 and the associated financial plan (the “April Plan”). The FY 2020 budget totals $92.5 billion, including $68.2 billion that will be funded with locally generated revenues (i.e., City funds).

Economy

May 2019 —

The construction industry lost more than one quarter of its jobs across the nation during the past recession. Although the contraction was less severe in New York State, the industry still lost 15 percent of its jobs between 2008 and 2010.

Economy

April 2019 —

New York City is experiencing its largest and longest job expansion since the end of World War II.