Main Banner

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

Share

DiNapoli Releases Analysis of 2022-23 Enacted State Budget

Historic federal aid and better-than-expected revenues allowed for a steep increase in spending in the $220.5 billion enacted state budget for State Fiscal Year (SFY) 2022-23, according to an analysis released today by New York State Comptroller Thomas P. DiNapoli. While some of the new spending will be temporary, much of the year-over-year growth will be for new initiatives and more funding for existing programs. DiNapoli expressed concerns about the growth in capital spending and debt.

State Contract and Payment Actions in March

In March, the Office of the State Comptroller approved 1,950 contracts for state agencies and public authorities valued at $3.6 billion and approved nearly 3.7 million payments worth nearly $35.1 billion. The office rejected 147 contracts and related transactions valued at $1.4 billion and more than 9,100 payments valued at more than $30.9 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.

DiNapoli: Local Sales Tax Collections Up 21% in First Quarter of 2022

Local government sales tax collections grew by 21.1%, or $901 million, in the first quarter of 2022 compared to the same period last year, according to a report released today by New York State Comptroller Thomas P. DiNapoli. Collections for the three-month period totaled nearly $5.2 billion, with growth at least partially driven by inflation, which hit a 40-year-high in March.

New York State Comptroller DiNapoli on NYC Executive Budget

“New York City released its Fiscal Year (FY) 2023 Executive Budget today, totaling $99.7 billion, allocating funds to newly announced agency initiatives and addressing a number of risks in the budget.

"The city’s short-term finances have improved dramatically from budget adoption and still has room to improve before the end of the year.

DiNapoli: Debt Adding to MTA's Financial Pressures With Riders and Fare Revenue Slow to Return

Despite unprecedented federal aid and better-than-expected state tax revenues, the Metropolitan Transportation Authority (MTA) continues to plan to use borrowing techniques that push difficult financial decisions into the future and could leave less money to pay for services, according to New York State Comptroller Thomas P. DiNapoli’s annual report on the MTA’s debt.

DiNapoli Op-Ed in Crain's New York Business

Crain’s New York Business published an op-ed from New York State Comptroller Thomas P. DiNapoli today on the need for greater transparency and accountability in budgeting for the use of federal relief funds. The full op-ed is below:

What Are New Yorkers Getting From Federal Covid Relief Funds?

The new state budget reflects robust tax revenue growth and an unprecedented infusion of federal money.

DiNapoli: Inflation in NYC Metro Area Up 6.1% in March, Growing at Highest Rate in 30 Years

Recent data from the U.S. Bureau of Labor Statistics (BLS) indicates consumer prices grew by 6.1% in the New York City Metropolitan Area in March 2022 compared to the same month one year ago, driven by double-digit increases in the costs of energy and transportation. Despite lagging inflation growth nationally and in other large metro areas, NYC metro area price increases appear poised to outstrip earnings growth.

DiNapoli Statement on Amazon's Agreement to Conduct an Independent Racial Equity Audit

New York State Comptroller Thomas P. DiNapoli issued the following statement today following Amazon’s agreement to conduct and publicly release an independent racial equity audit, led by former U.S. Attorney General Loretta Lynch, that will look into “disparate racial impacts” from its employment practices on its hourly workers. As a result of the agreement, DiNapoli and the New York State Common Retirement Fund will withdraw the shareholder proposal they had filed for consideration at Amazon’s annual meeting on May 25.