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NEWS from the Office of the New York State Comptroller
Contact: Press Office 518-474-4015

        

DiNapoli: Local Sales Tax Collections Up 1.6% in First Quarter

Local government sales tax collections totaled $5.6 billion in the first calendar quarter (January-March) of 2024, an increase of 1.6%, or $87.3 million, compared to the same quarter last year, the lowest rate of growth since the first quarter in 2021, according to a report released today by State Comptroller Thomas P. DiNapoli. This growth was largely driven by New York City, with several upstate regions experiencing a year-over-year decline for the quarter.

NY Received More From Washington Than It Sent Due to Federal Relief

Historic federal pandemic relief funds, though being spent down, continued to boost New York’s balance of payments with Washington, according to a report issued today by State Comptroller Thomas P. DiNapoli. In Federal Fiscal Year (FFY) 2022, New York state generated $361.8 billion in federal taxes and benefited from $383 billion in federal spending. For every tax dollar paid to Washington, the state received $1.06 in return – a favorable per capita balance of payments of $1,076.

DiNapoli: Environmental Facilities Corporation Faces Significant Funding Backlog for Essential Water Infrastructure Projects

New York State’s Environmental Facilities Corporation (EFC) has provided financing for over 2,000 essential local water infrastructure projects totaling more than $23.7 billion since 1990, but the estimated capital improvement needs for water and sewer projects far exceeds this amount, and tens of billions of dollars in local projects remain in the pipeline, according to a report by State Comptroller Thomas P. DiNapoli.

DiNapoli: Former NYU Finance Director Pays Over $660,000 in Restitution for Role in Multi-Million Dollar Fraud

A former director of finance and administration at New York University paid full restitution of $663,209 after pleading guilty to grand larceny for orchestrating a $3.5 million, 6-year fraud relating to two NYU programs, State Comptroller Thomas P. DiNapoli and Manhattan District Attorney Alvin L. Bragg Jr. announced today.

DiNapoli: Renewable Energy Projects Taking Years To Become Operational in NYS

Renewable energy projects have been taking more than three years to receive siting permits due to application delays, according to an audit released today by New York State Comptroller Thomas P. DiNapoli. The audit of the Office of Renewable Energy Siting (ORES) found permit applications were often delayed due to missing or insufficient documentation.

State Comptroller Thomas P. DiNapoli Statement on Mayor's Executive Budget Update

“New York City’s budget outlook continues to improve, and it can use this opportunity to build reserves and take other actions to address future uncertainty. Despite challenges, the city’s economy continues to grow and deliver better than expected tax revenue, supporting upward revisions in spending. The Fiscal Year 2025 budget is now expected to exceed $115 billion, up from nearly $111 billion projected at the same time last year.

NY State Comptroller DiNapoli Announces Responsible Workforce Management Policy for Private Equity Investments

New York State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund (Fund), today announced the Fund’s adoption of its Responsible Workforce Management Policy and Principles (Policy). As part of the Fund’s investment due diligence of new investments within its $38 billion private equity asset class, the new Policy will require an evaluation of relevant workforce management policies and practices.

State Comptroller Thomas P. DiNapoli Statement on Passage of Final State Budget

“After a lengthy process, the state budget includes increased spending and policy changes on issues of importance to New Yorkers, including housing, health care, mental health and education. While year-over-year spending growth appears to be significant, reserves are to be maintained at 15% of spending, consistent with recommendations I have long advocated. Adequate reserve levels are critical, as out year budget gaps and an uncertain economy create future fiscal pressure.

DiNapoli: Former Utica School District Superintendent Sentenced for Public Corruption, Must Pay Over $160K to District

State Comptroller Thomas P. DiNapoli, Oneida County District Attorney Todd Carville, and the New York State Police today announced that Bruce Karam, the former long-time superintendent of the Utica City School District (UCSD), was sentenced to pay the UCSD restitution of $11,549 for the resources improperly diverted, serve five years’ probation and perform 250 hours of community service. Karam was also ordered to pay UCSD $150,000 by May 17, representing a reduction in his pension earnings from the date of his crime until his termination.

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