Reports

The New York State Legislature amended the State Finance Law in 2015 by adding a new Section 8-c providing for the establishment of a statewide electronic system to help detect and prevent fraud, waste and abuse in government spending and to help avoid improper payment of public funds.

Local sales tax collections in New York State grew by 3% in July compared to the same month in 2022. Overall, local collections totaled $1.82 billion, up $53.3 million compared to the same time last year.

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From 2010 through 2021, the percentage of New Yorkers without health insurance declined every year to 5.2% in 2021, well below the national average of 8.6%. Rates of uninsured New Yorkers are lower than the nation largely due to the State’s higher rates of enrollment in public health insurance programs, which provided coverage to 4 in 10 New Yorkers in 2021. As the State begins reprocessing eligibility determinations for public health insurance, continued transparency and reporting will be essential for understanding the implications for coverage rates and on the State’s budget.

New York City’s finances continue to benefit from better-than-projected revenues and savings generated through initiatives launched in response to its financial challenges. While many of the fiscal challenges facing the City are not in its direct control — including the continued influx of asylum seekers, elevated demand for City programs due to an uneven recovery and the potential for federal and State actions that could further pressure City finances — preparation remains paramount to navigating this uncertainty.

New York State voters approved a constitutional amendment in 2013 which authorized seven commercial casinos. The first four of those opened between 2016 and 2018 in upstate communities and the Request for Applications for the remaining three licenses for downstate communities began in January 2023. This report analyzes the impact the revenue from the four upstate commercial casinos has had on the affected local governments.

Local government sales tax collections in New York State totaled $5.7 billion in the second quarter of 2023 (April-June), an increase of 3%, or nearly $167 million, compared to the same period last year.

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New York State will have to take multiple steps to increase renewable electricity generation to achieve the objectives of the Climate Leadership and Community Protection Act. Success will also require State agencies to consistently and proactively identify and address problems, continue streamlining permit and interconnection study procedures, and develop the necessary infrastructure to connect renewable projects to the grid and New Yorkers' homes.

The federal- and State-funded Emergency Rental Assistance Program has distributed nearly $3.1 billion to approximately 250,000 applicants statewide. New York City’s residents received most of the funding (81.2%), followed by residents in Suffolk County (2.9%), Westchester County (2.7%) and Erie County (2.5%). The State and the City must continue to monitor renters’ ability to make payments and ensure any future funding, including the most recent commitment in the State budget, reaches the households that need it the most.

The Division of the Budget’s State Fiscal Year (SFY) 2023-24 Enacted Budget Financial Plan shows looming budget gaps totaling $36.4 billion through SFY 2026-27. The deteriorating fiscal outlook is rooted in several factors, including anticipated revenue declines from a weakening economy and a volatile stock market, and increases in recurring spending. State leaders must take action to align recurring revenues with recurring spending, with an eye toward preserving the economic competitiveness of our State and equality of opportunity for all New Yorkers.

The Procurement Stewardship Act Report is prepared annually by the Office of the New York State Comptroller as required by New York State Finance Law, Section 163.14. The Report provides information on state agency contracts, agency purchases from centralized contracts, bid protests and use of consultants during the past fiscal year.

State tax receipts totaled $27.6 billion through the first quarter of State Fiscal Year 2023-24, $450.8 million higher than estimates released in the Division of the Budget’s Enacted Budget Financial Plan. However, collections were $6.8 billion lower than last year through the quarter ending in June 2022.

The Climate Action Plan Progress Report for the New York State Common Retirement Fund highlights the Fund’s recent efforts to address climate risks and opportunities.

New York will receive nearly $665 million as part of recent federal investments to improve broadband data, affordability, access and availability. New federal funds present an opportunity for the State to improve the availability of reliable, high-speed service to unserved and underserved areas, and the State must now craft a plan that is ambitious, actionable and accountable for meeting this objective.

New York’s recreational adult-use cannabis market represents a new legalized industry and, as such, its development presents new and unique issues for local governments, particularly for the cities, towns and villages that will have marijuana retail dispensaries and consumption sites located within their jurisdictions. The purpose of this report is to briefly provide a background on the 2021 cannabis law, including its major components and actors, and to touch upon its financial and operational implications for local governments.

Local sales tax collections in New York State increased by 1.1% in May compared to the same month in 2022. This is the third consecutive month in 2023 of less than 2% growth. Overall, local collections totaled $1.71 billion in May, up $18.4 million compared to last year.

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Stronger-than-anticipated revenue and savings initiatives will allow New York City to maintain budget balance in Fiscal Year (FY) 2024, but the City faces significant financial pressures that are likely to exacerbate already large out-year budget gaps. Budget balance in FY 2024 comes as the City is returning to a revenue composition that more closely resembles pre-pandemic norms, moving away from reliance on federal relief aid.

For State Fiscal Year (SFY) 2022-23, agencies paid vendors $4,087,280 in interest, an increase of $3,081,904 (approximately 307 percent) from SFY 2021-22.

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 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.

Of the total contracts reported by State agencies in 2022, 58 percent were processed after their start or renewal dates. This represents no change from 2021.

The number of New Yorkers earning less than $20,000 with a broadband subscription rose from 64% to 76% between 2019 and 2021 as a result of two federal programs created to address disparities in access to high-speed internet. More than 1.3 million New York households are receiving affordable broadband subscriptions with federal support. In total, more than 90% of all New York households had access to broadband in 2021, up from 86% in 2019.