At the close of FY 2024 (on June 28, 2024), the City recorded the end-of-year cash balance of $10.410 billion, compared to $12.387 billion a year prior. As expected, cash balances fell in the 2nd half of FY 2024 below the previous year’s record highs. Daily cash balances during FY24 averaged $10.93
The Office of the New York City Comptroller serves as investment advisor, custodian, and trustee for the five New York City public pension systems (collectively referred to as “the Systems”).
The Identifying Information Law requires City agencies to submit comprehensive biennial agency reports related to their collection, retention, and disclosure of identifying information and their privacy protection practices.
While the audit found that the New York City Board of Elections (BOE) generally fulfilled its obligations to issue absentee ballots for the 2022 General Election as required under the New York State Election Law, it also found significant areas that need improvement.
City government has a crucial role to play in managing emergency response to severe storms and flooding, from communicating emergency alerts to cleaning catch basins to building more resilient infrastructure. It is critical that we pay sharp attention to these issues to ensure our city is as prepare
The FY 2025 Adopted Budget has $4.75 billion budgeted for Asylum Seekers. Assuming that the census remains relatively flat (compared to OMB’s higher projections), and using the target per diem of $335, the Comptroller’s Office projects that overall costs will be closer to $3.42 billion.
Lengthy court case processing times have grown worse in recent years and are contributing to DOC’s increased jail population. Aligning with national standards would save up to $877 million annually and help NYC achieve its commitment to close Rikers Island.
The June 2024 forecast preceded the Fiscal Year 2025 Adopted Budget Agreement which included several changes from the City’s Executive Plan (released in April) that had implications for the year-end Cash Balance.