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.
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.
Despite elevated inflation and interest rates, the NYC economy is continuing to grow at a moderate pace and the City’s revenues are up primarily due to strong property, business, and sales taxes, and due to non-recurring Covid relief funds.
On December 1, 2023, New York City’s unrestricted cash balance reached a seasonal low of $5.223 billion, compared to $3.966 billion in FY23 and $1.338 billion in FY22. The cash total includes the Revenue Stabilization Fund (RSF) balance of $1.959 billion.
This investigative report by Comptroller Scott M. Stringer examines how City agencies charged with eradicating childhood lead poisoning for years missed crucial opportunities to protect children from the immense harms associated with lead exposure.
The Comptroller’s investigation, examining the City’s response to lead in the period between January 1, 2013 and October 10, 2018, includes a number of findings that demonstrate the need for increased coordination in the City’s fight against lead exposure.
This report includes specific details and analysis regarding the City's capital debt and obligations. It addresses the fact that New York City has a large amount of outstanding debt and great capital needs, but also comments on its overall strength in credit rating. Further included in this document are in depth analyses and data on the City's debt.
The New York City Comptroller’s Office conducted of the Office of School Health’s (OSH) Management of Contract Nursing Assignments, including recommendations to identify all instances of past overbilling and overpayment and recoup any overpayments.
On December 9, 2021, the Deputy Comptroller for Audit and Investigation by letter provided the New York City Schools Chancellor with the results of an investigation the New York City Comptroller’s Office conducted of the Department of Education’s (DOE’s) procurement of food.
In-depth economic profiles of every New York City community district, charting the growth and composition of local businesses, commuting patterns, employment rates, commercial building stock, educational attainment, household income, and many other important variables.
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”).
At the end of 2Q22, the City recorded an unrestricted cash balance of $6.513 billion. Typically, the lowest daily cash balance of a fiscal year occurs during the second quarter.
The City began 1Q22 with $8.469 billion in cash-on-hand, compared to $6.627 billion opening balance last year. Total receipts in the quarter rose 9.3%, while expenditures increased 10.8%. Overall, cash receipts exceeded cash expenditures by $333 million in 1Q22.
At the close of 4Q18, the City’s unrestricted cash balance stood at $9.394 billion, virtually unchanged from the closing balance at the end of 4Q17. The 4Q18 average cash balance of $9.035 billion fell below the 4Q17 average by $363 million.
In this report, tax receipts, with the exception of personal income tax, are gross of refunds. Real property tax and personal income tax are gross of debt service funding.
The City began FY 2023 (FY23) with $8.159 billion in cash-on-hand, versus $8.469 billion at the same time last year. During the first half of fiscal year 2023 (1H23), the City’s cash balances averaged $8.126 billion, compared to $7.274 billion at the same time last year.
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 intended purpose of this report is to provide a thorough and independent third party review of the economic actuarial assumptions and actuarial methods used in the NYCRS, which reflects economic forecasts and capital market assumptions through December 31, 2022.
The purpose of the Part I Experience Study report is to provide high-level observations of the demographic assumptions used in the actuarial valuations performed by the Office of the Actuary (OA) for these systems compared to the experience.
The purpose of the Part I Experience Study report is to provide high-level observations of the demographic assumptions used in the actuarial valuations performed by the Office of the Actuary (OA) for these systems compared to the experience.
This report, submitted by Hay Group, summarizes the findings pertaining to the audit conducted on Employer Contribution Calculations for Fiscal Year 2010. The contributions, overall, have been accurately determined, using sound assumptions and methodologies, and in accordance with accepted standards and practices.
This report, prepared by Hay Group, details the demographics studied when conducting experience studies, audits, reviews and evaluations of New York City Retirement Systems (NYCRS).
This report, prepared by Hay Group, lists the demographics of the New York City Employees' Retirement System. It is organized by system/subgroup/department in categories, such as age, gender, and mortality rate.
This report, prepared by Hay Group, lists the demographics of the New York City Employees' Retirement System. It is organized by system/subgroup/department in categories, such as age, gender, and mortality rate.
This report, submitted by Hay Group, summarizes the funding of the New York City Retirement Systems (NYCRS). Based on experience studies, audits, reviews and evaluations, the NYCRS is being funded on sound financial, scientific and legal bases in order to attain the City's financial objectives.
Presentation of the report of the New York City Comptroller’s investigation of the City’s $8.26 million payment to Global Medical Supply Group during the fiscal year 2021.
Between August 30 and September 8, 2022, Comptroller’s Office Audit Bureau staff visited 262 NYCHA developments and conducted a review of building entry door security. This report delivers findings and recommendations.
Final reports present findings related to exterior door security at New York City Housing Authority (NYCHA) developments, based on observations made throughout the five boroughs between July 10, 2018 and August 29, 2018.
The Comptroller’s Office is committed to maintaining a workplace that preserves fair employment practices and reflects the community in which we work and live. Described are key initiatives and accomplishments that that the agency undertook last fiscal year (2021).
The agency recognized employees, supervisors, managers, and units demonstrating superior accomplishment in diversity, equity, inclusion, and equal employment opportunity
In order to ensure the City’s physical and fiscal well-being against future weather events and mounting risk
posed by climate change, this report suggests that the City make investments to protect property from the future effects of climate change.
“It is against this backdrop that the Comptroller’s Office and A Better Balance jointly administered a survey to better understand how New Yorkers are navigating professional and personal responsibilities in COVID-19-era New York City.”
This brief explores uniformed personnel overtime at the New York City Police Department (NYPD), which has become the largest share of overtime over budget each year.
This report gives New Yorkers a window into their local government and its budget functions. It is a user-friendly companion to the City’s 2018 Comprehensive Annual Financial Report (CAFR), which offers a detailed picture of our City’s financial condition.
The PAFR serves as an accessible guide to the ACFR for residents and explains New York City government and finances in a concise and easy-to-understand manner. The PAFR is also enhanced with several explanatory visuals for readers.
The Popular Annual Financial Report provides an accessible overview of the financial details contained in our 500-page Annual Comprehensive Financial Report.
The PAFR aims to offer citizens, businesses, and community groups a breakdown of our revenues and expenses, as well as an annual snapshot of our local economy.
The seventh New York City Popular Annual Financial Report (PAFR). The PAFR is meant to condense and consolidate crucial financial information otherwise presented in our 500-page Annual Comprehensive Financial Report (ACFR).
This report serves as a user-friendly companion to the City’s 2019 Comprehensive Annual Financial Report (CAFR), which presents a detailed picture of our City’s financial condition.
Mayor de Blasio along with other admin announced the next significant step toward achieving a first-in-the-nation goal of divestment from fossil fuel reserve owners.
This analysis by New York City Comptroller Scott M. Stringer highlights the important role of the City’s LTCOP and demonstrates the need to augment the program.
The NYC Comptroller recognizes employees, supervisors, managers, and units demonstrates superior accomplishments in diversity, equity, inclusion and equal employment opportunities.
Performance of New York City's cash Balances, Cash Receipts, Cash Expenditure, Capital Expenditures and Financing during Q 1 FY 2021 July-September 2020.
At the end of the third quarter of FY19 (hereafter 3Q19), the City recorded an unrestricted cash balance of
$10.895 billion, $942 million above last year’s figure.
Presentation of New York City’s cash balances, cash receipts, cash expenditures, capital expenditures, and financing during January 2021 to March 2021.
Report on the City's cash balances, receipts, expenditures. At the close of 4Q19, the City’s unrestricted cash balance stood at $7.110 billion, the lowest end-of-year cash balance since 4Q13.
A portrait of NYC's cash position in the 4th quarter of FY2020. The COVID-19 pandemic and the efforts to contain it have plunged the economy into a deep contraction and led to a sharp drop in tax revenues in NYC. At the close of 4Q20, the City’s unrestricted cash balance stood at $6.627 billion.