In accordance with New York City Charter §93(l), the Annual Comprehensive Financial Report (ACFR) is published within four months after the close of each fiscal year.
This report analyzes progress on resiliency capital spending to date, after Superstorm Sandy. The report goes on to provide a snapshot of the property values, land uses, and essential infrastructure in the coastal floodplain, illustrating the range of critical assets at risk.
The purpose of this report is to provide a comparative analysis of the overall financial activities of union-administered benefit funds that received City contributions.
A quarterly cash report for New York City. At the close of FY 2022 (on June 30, 2022), the City recorded the end-of-year cash balance of $8.159 billion, compared to $8.469 billion a year ago. Daily cash balances during FY22 averaged $7.524 billion, $831 million below the prior year’s number.
As of May 31, 2022, the cash balance stands at $7.632 billion, compared to $9.996 billion at the same time last year. This difference in balances is primarily due to the timing of Federal aid receipts, as described further below.
The City of New York began the third quarter of FY22 (hereafter 3Q22) with $6.513 billion in cash. By the end of the quarter the City had $8.961 billion, $3.111 billion lower than during the same time last year.
The City of New York is at a pivotal fiscal moment. Tax revenues for the current fiscal year are coming in far above projections, yielding a substantial surplus; however, neither the Mayor’s Office nor the Comptroller’s Office expect this trend to continue.