This report compares traditional defined benefit (DB) pension plans with 401(k)-type defined contribution (DC) retirement savings plans. DB plans are generally secure, predictable and efficient, but may prove to be a bigger economic burden than DC plans.
The Administration for Children's Services lists assistance to prevent the need for foster care as one of four components of its child welfare service system. The transition from a system that emphasizes foster care to one that focuses on preventing the need for foster care has been unsteady. This report looks at changes in the city's foster care and preventive services programs over the last decade, including enrollment, spending, and funding.
Various audit reports were compiled of the Minority And Women-Owned Business Enterprises Program and filed on December 22, 2010. The audits of the Program found a common issue in the administration of the program: the lack of compliance with key provisions of Local Law 129 concerning agency monitoring of M/WBE participation goals of vendors to ensure that subcontractor utilization goals are achieved. Recommendations were made to rectify the lack of effective monitoring of the program at the agency and oversight level.
This audit reviewed the results of audit reports for three CIty agencies that examined the recoupment of change order costs that were necessitated by design errors and omissions.
An audit report was filed on March 12, 2013 as a compilation of audits of the City's oversight of construction management consultants. It was determined that deficiencies and problems with overseeing the work of construction management consultants and failing to complete projects on time resulted in the expenditure of $22.13 million in additional construction management consultant costs. Furthermore, deficient oversight led to $3.3 million in inappropriate and questionable payments to a consultant, and $8.25 million in monetary penalties for failure to complete certain projects on-time. Recommendations were made to rectify these issues.
The City's Comptroller Office conducted a series of audits on the administration and controls of overtime by City agencies. From the audits, it was found that there is a general lack of compliance with the rules, procedures, regulations, and policies governing overtime. There is a threat of overtime abuse due to inadequate management. Recommendations have been made to all agencies to try to solve these problems.
This report, filed on May 13, 2010 is a compilation of systems development audits and an assessment of Citywide Systems-Development Strategy. This compilation report revisited lessons learned from the audit reports when viewed in total. It was concluded that, while improvements have been made in the process of developing IT system projects, up to $190.7 million of IT system-development projects examined may have been poorly spent. In general, it was determined that the City has not created a successful unified City-wide strategy for developing IT systems. As a consequence, the resources invested in these projects are at risk. Recommendations were made to rectify these issues.
IBO has substantially revised and updated its guide to the city's capital budget. The readable, full-color guide outlines the key components of the capital budget and the timeline and process for adopting it. The guide also provides an overview of how the city raises capital funds and how those dollars are spent.
The objectives of this audit were to determine if all owners report cell site income on the RPIE statement, if additional property tax would be due from unreported cell site income, and if penalties
are assessed for not reporting cell antenna income.
Despite the increased number of jobs in New York City between 2011 and 2012, employment of city residents did not increase, leaving the unemployment rate high and leading to an analysis of these contradictory statistics.
A letter from Ronnie Lowenstein to Gene Russianoff talking about the review and analysis of the Metropolitan Transportation Authority's fiscal projections.
FOCUS ON THE PRELIMINARY BUDGET: The Mayor proposes a faster roll-out of his 3-k initiative and continues to consolidate early education programs in the Department of Education.