Reports

The federal government has been operating under Continuing Resolutions since the start of the new federal fiscal year that began October 1, 2010. Despite ongoing efforts between the President and Congress to reach agreement on a federal budget, taxpayers face the threat of the first federal government shutdown since 1996.

The number of Hispanic-owned businesses in New York State totaled 193,200 in 2007, the latest year for which data are available. This represented an increase of 85.4 percent compared with the 1997 level, or nearly three times the rate of growth in the total number of businesses in the State. 

Spanish

New York City’s economy is recovering from the recession at a faster pace than the nation and the rest of New York State. Since job losses ended in November 2009, the City has gained 73,400 private sector jobs, or half of the jobs lost in the recession, but public sector job losses are beginning to accelerate. While the unemployment rate has declined from a peak of 10 percent to 8.9 percent, it remains unacceptably high.

Since the housing bubble burst in 2007, many homeowners across the nation have faced foreclosure.

The 2011-12 Executive Budget proposes a $1.5 billion net cut in State aid to schools, which would result in a 7.3 percent decrease in aid to districts statewide, translating to a 2.9 percent reduction to total general fund budgets.

District by District report - pdf

The budget process for State Fiscal Year (SFY) 2011-12 is well underway, with several milestones reached. On March 1, the Executive and the Legislature reached consensus on an economic and revenue forecast for the current year and the next, and on March 3, the Executive submitted final amendments to the proposed budget.

This report describes the fiscal challenges facing school districts in New York State. As with other classes of government, school districts have struggled to maintain fiscal balance in the midst of rising costs and declining economic conditions.

Regional Profiles

This report is the seventh in a series of reports on the capital security program of the Metropolitan Transportation Authority (MTA).

Cash bonuses paid to New York City securities industry employees declined by nearly 8 percent to $20.8 billion in 2010, about one third less than paid out in 2007 before the financial crisis.

The State Fiscal Year (SFY) 2011-12 Executive Budget makes significant progress in addressing the State’s structural deficit by bringing recurring spending into better alignment with recurring revenue.

Programs focused on children who are at risk of becoming delinquent have demonstrated effectiveness in preventing young people from ever entering the juvenile justice system.

New York State Comptroller Thomas P. DiNapoli issued an Executive Order on Energy and the Environment on September 13, 2007 that established the goals and structure of a Green Initiative for the New York State Office of the State Comptroller (OSC).

Local sales tax collections grew by 9.9 percent in 2010 compared to 2009, when sales tax collections declined by 6.0 percent. However, nearly a third of this growth was due to a sales tax rate increase in New York City.

As New York State grapples with cost-effective solutions for its estimated $250 billion in infrastructure needs over the next 20 years, this report examines both the opportunities that public-private partnerships offer as well as the underlying financial risks associated with forming those partnerships.

While LIPA appears to have adhered to established storm protocols in response to Hurricane Earl, opportunities exist to improve these policies and procedures.

New York City’s economy is recovering from the recession at a faster pace than the nation and the rest of New York State. In the ten months after December 2009, the City regained 76,300 private sector jobs—about 47 percent of the jobs lost— but the unemployment rate remains high.

Over the past ten years, New York has spent $63.2 billion to support its capital program. Despite this significant investment, there are many critical capital needs across the State that remain unmet, calling into question the adequacy and effectiveness of the current capital planning and financing process.

The recent financial crisis, which was precipitated by excessive risk-taking, began in the United States but quickly spread across the globe and caused the worst recession since the Great Depression.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2010-11 through SFY 2012-13, issued pursuant to Chapter 1 of the Laws of 2007, is intended to facilitate continuing discussion of the State’s economic condition and the State Budget.

Local sales tax collections, including New York City’s, increased by 10.5 percent during the first three quarters of 2010, compared to a 9.0 percent decline in the same period the year before. However, over a third of this growth is due to sales tax rate increases and the extension of the sales tax to additional items in New York City and Nassau County. Adjusting for these tax increases, the growth in sales tax collections to date in 2010 has been about 6 percent.