Reports

Six years after the end of the Great Recession, economic growth continues across the United States and in New York. The State has enjoyed four consecutive calendar years of comparatively steady job gains after suffering a recessionary decline in 2009 and only slight growth in 2010.

Long Island utility customers have long paid some of the highest electricity prices in the country. Residents and businesses in the region have raised concerns about such costs, as well as management practices of the Long Island Power Authority (LIPA).

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 firms with the opportunity to offer services to fiduciary-controlled entities established by New York State law.

Although the overall results have improved, State agencies continue to have difficulty meeting the established time frames. In 2014, State agencies reported that 77 percent of grant contracts with NFPs were not approved by the start or renewal date. This compares with 87 percent as reported in 2013.

In the 2014-2015 fiscal year, State agencies paid interest totaling $1,525,112 representing a decrease of $189,713 from the prior year.

New York spent $143.9 billion in State Fiscal Year (SFY) 2014-15 on an All Governmental Funds (All Funds) basis, an increase of $6.4 billion or 4.6 percent from SFY 2013-14.

The Office of the State Comptroller received 23,591 contract transactions valued at $44.4 billion, both new contracts and contract amendments, in the 2014 calendar year. The average time from submission to final sign-off was 11.6 days. Over three-quarters of these transactions (78.5 percent), representing over 75 percent of the aggregate contract dollar value, were reviewed by OSC in 15 days or less. An additional 15.6 percent were processed in 16 to 30 days.

In the sixth year of national economic recovery, New York State’s short-term financial condition continues to improve.

Medicaid provides health insurance coverage to more than 6 million New Yorkers and is projected to cost a total of $62 billion from federal, State and local sources in State Fiscal Year 2016.

This report by the Office of the State Comptroller on overtime use by New York State agencies examines overtime patterns over the past eight calendar years. The total cost of overtime in calendar year 2014 was more than $661 million for over 15.9 million overtime hours worked.

New York’s Medicaid program is undergoing major changes, with ambitious plans for further modifications just ahead. The State’s efforts to slow spending growth are showing measurable progress, with average beneficiary costs declining while enrollment continues to grow.

The Executive Budget for State Fiscal Year (SFY) 2015-16 was released by the Executive on January 21, 2015. On February 20, the Executive submitted 30-day amendments to the proposed Budget.

Farms are an essential and diverse part of New York State’s economy, contributing significantly to employment, incomes and tax revenues across the Empire State.

As the national economy gains momentum in its sixth year of inconsistent recovery from the Great Recession, New York State's fiscal condition also continues to improve.

New York’s State and local public authorities collectively spend nearly $60 billion annually. Their total debt outstanding, more than a quarter of a trillion dollars, equates to $13,013 for every New York resident.

As of December 2014, OSC has completed 40 audits of expenses submitted to SED by preschool and/or school age special education providers over the last decade. These audits have cumulatively identified almost $42 million in disallowances, or 7.6 percent of the total claimed expenses of $544 million for the audit period. 

New York’s State and local public authorities collectively spend nearly $60 billion annually. Their total debt outstanding, more than a quarter of a trillion dollars, equates to $13,013 for every New York resident.

Access to a habitable and secure place to live is a basic human need, essential to good health and well‐being. Keeping New Yorkers housed is costly, however. Government spends billions of dollars annually to assist developers, owners, and renters.

Created in 1970, the New York State Department of Environmental Conservation (DEC) is responsible for most of the State’s programs to protect wildlife, natural resources and environmental quality.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2014- 15 through SFY 2016-17, issued pursuant to Section 23 of the State Finance Law (as amended by Chapter 1 of the Laws of 2007), is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.