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.
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.
This Report provides a comprehensive analysis of contracts and agreements registered in FY21 in order to increase transparency in the City’s contracting process to ensure that municipal agencies serve the needs of all New Yorkers in an efficient and fair, cost-effective manner.
On December 1, 2021, New York City’s unrestricted cash balance reached a seasonal low of $1.338 billion, compared to $2.143 billion in FY21 and $1.769 billion in FY20.
The Preliminary Budget closes the $2.88 billion budget gap projected in November, on the strength of an expected $2.77 billion surplus in FY 2022, derived primarily from $1.60 billion in additional tax revenues and savings of $866 million from the Program to Eliminate the Gap (PEG).
New York City’s current property tax system is notoriously opaque, unfair, and regressive. For the past four decades, rather than dealing with its structural flaws, New York State has layered on a patchwork of exemptions and abatements to lower tax rates for various owners.
The purpose of bail is to ensure that a person who is arrested returns to court for trial. However, in practice, the impact of bail has been to detain tens of thousands of New Yorkers, presumed innocent, before trial and cost low-income families tens of millions of dollars every year.
Advancing the vision of a smaller, safer and fairer jail system remains one of the City’s most pressing challenges and will necessitate collective action on the part of all criminal legal system stakeholders.
Fiscal Year 2023 begins in a period of significant economic uncertainty. There are meaningful signs of continued recovery from the pandemic, with jobs at 96% of pre-pandemic levels, tourism and Broadway rebounding, record numbers of new business applications, and tax revenues coming in...
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.
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.
FY22 began with $8.469 billion in cash-on-hand, compared to $6.627 billion in the beginning of FY21. However, the gap between current cash balances and prior year cash balances quickly disappeared, and FY22 cash balances have been running close to year-ago levels ever since.
This report details allocations to MWBE asset management firms managing assets for the New York City Retirement Systems, the status of “emerging manager” programs, the MWBDVE Brokerage Program for the Retirement Systems, the efforts of the Bureau of Public Finance to expand work with diverse firms.
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.
Challenges to a full economic recovery remain. New York City was hit earlier and harder by the pandemic and has experienced a disproportionate share of the impact.
This analysis of business improvement districts (BIDs) identified four financial matters, which potentially point to increased financial risks and may decrease the availability of services to districts.
The Popular Annual Financial Report provides an accessible overview of the financial details contained in our 500-page Annual Comprehensive Financial Report.
The Comptroller’s Annual State of the City’s Economy and Finances Report, released each year in December, is designed to provide a grounding for analysis as the City prepares to begin its annual budget process early in the new year.
New York City’s economy faces perhaps some more difficult challenges than the nation at large, as the city’s highest paying sectors have been undergoing some job-reducing restructuring over the past year
NYC Department of Finance Commissioner Jacques Jiha, Ph.D. Testimony on the FY'20 Preliminary Budget Hearing before the City Council Finance Committee.
This report presents statistical information for tax year 2000 for the three New York City
business income taxes: the Banking Corporation Tax (BCT), the General Corporation Tax
(GCT), and the Unincorporated Business Tax (UBT).
The Mayor’s latest budget plan adds $23 million over the years 2020-2023 for his LeadFreeNYC initiative, and brings the total amount of funds budgeted for the program to $39 million. But that still leaves the program’s funding well short of the original commitment.
The city has committed more than $4 billion over 10 years that can be used to meet the terms of the settlement with federal officials for repairs at public housing developments across the city. Yet the full cost of the settlement is unclear, and may require additional city funds.
The Governor’s budget proposes that New York City—and just New York City—pay 10 percent of annual Family Assistance costs, a program that has been funded completely with federal dollars in the past.
In a 2015 plea agreement, BNP Paribas bank paid $8.9 billion in criminal penalties, including nearly $900 million to the city. Much of those funds remain unused.
Under the Mayor’s plan, the budget for summer jobs for youth would increase by more than $30 million, but the number of slots for participants would fall.
The fiscal condition of the city’s public hospitals may be looking better than in the recent past, but a prognosis of modest shortfalls remains for the years ahead.
IBO presents an overview of our analysis of the Mayor’s Preliminary Budget for 2020 and financial plan through 2023. The report includes our projections of city budget gaps and surpluses, highlights of our latest economic forecast, and re-estimates of revenue and spending under the Mayor’s plan
We project that NYC tax revenue will grow from $61.0 billion this year to nearly $70.6 billion in 2023. Get the details behind the numbers in our projections for individual taxes.
While there’s been much attention to the de Blasio Administration’s expansion of pre-k and 3-k, after-school programs for elementary and middle school students also have substantially increased. We track the rise in enrollment and spending since 2014.
In recent years annual revisions to federal labor force data for New York City have been large and hard to anticipate. These revisions have been further complicated by some unusual recent trends in local employment. We take a closer look.
Our data detailing school spending since 1990 has been updated and now features interactive charts and graphs. It includes information on per pupil spending, revenue sources, and school debt service and pension costs.
In this new report we present the details of our latest economic forecast & projections of tax revenue and spending based on the Mayor’s Preliminary Budget for 2021 and financial plan through 2024.
FOCUS ON THE PRELIMINARY BUDGET: Seven years after Hurricane Sandy swamped the city’s coastal neighborhoods, the programs aimed at restoring damaged homes and apartment buildings linger on. More money has been added to the city’s budget to finish the job.
FOCUS ON THE PRELIMINARY BUDGET: Although the Governor’s budget would increase state aid for schools by over $800 million, the city’s share is less than the Mayor had expected in the Preliminary Budget for 2021.
FOCUS ON THE PRELIMINARY BUDGET: Over the past three years, the state has forced New York City to shoulder an increasing amount of annual child welfare and juvenile justice costs. The Governor’s budget for 2021 would continue this pattern.
PRELIMINARY BUDGET FOCUS: Just hours before the Mayor released the 2022 Preliminary Budget he learned that the Federal Emergency Management Agency was increasing its reimbursement rate to the city for Covid-related costs. How much more can the city expect and what does this mean for city spending?
PRELIMINARY BUDGET REPORT: In this new report we present our latest economic forecast and analysis of the Mayor’s 2022 Preliminary Budget and Financial Plan through 2025. In the form of a chart book the report presents our key findings on the local economy and projections of tax revenues & spending.
REPORT: IBO remains cautiously confident about NYC’s fiscal outlook. Read our latest economic forecast and projections of revenue and spending through 2023.
A report on the number of small procurement contracts, as defined by New York City Housing Authority procurement rules, 2 awarded during the prior calendar year.
Advises that OLR has no capital projects to report on for purposes of the following provisions under the NYC Charter:
• Charter § 219(d), requiring each agency to prepare and submit periodic reports in regard to the progress of its capital projects.
• Charter § 222(a) requiring a report on the pro
Taking into consideration the strategic policy statements of the mayor and the borough presidents, relevant city-wide, borough and community plans adopted pursuant to Section 197-a, and reports pursuant to Section 257 comparing most recent 10-year capital strategy with capital budgets and programs.
Certificate establishing the maximum amount of debt, reserves, appropriations and expenditures for capital projects that the city may make in the ensuing fiscal year and three years following.
Details the expense budget of certain agencies by major functional areas. Within each functional area, expenditures by personal services and other than personal services are presented, as well as the funding supporting the function.
This is to reexamine internal processes and policies, use resources efficiently, and re-estimate expenses, and re-estimate expenses, all without sacrificing service delivery to New York City residents
It is presented by unit of appropriation within agency with programmatic description of each unit of appropriation. The Revenue Budget lists revenue categories by agency.
Submission of the Modification to the Financial Plan for the City and Covered Organizations by the City to the Financial Control Board pursuant to Section 8.3 of the Financial Emergency Act.
April 2021 Executive Budget, Fiscal Year 2022 - Details of financial plan by Agency, personal service expense, other than personal service expense and funding.
The Citywide Savings Program in the November 2018 Financial Plan is the result of a collaborative effort between OMB and City agencies to reexamine internal processes and policies,use resources efficiently, and re-estimate expenses, all without sacrificing service delivery to New York City residents
November 2018 Financial Plan, Fiscal Years 2019 - 2022 - Details of financial plan by Agency, personal service expense, other than personal service expense and funding.
November 2018 Financial Plan, Fiscal Years 2019 - 2022 - Details the revenue estimates for the five year financial plan. This report also includes citywide summaries and plan-to-plan revenue changes.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Under the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit this monthly financial report.
Under the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit this monthly financial report.
Under the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit this monthly financial report.
A summary of the major programs, priorities and objectives of the Financial Plan, capital priorities and initiatives, the general economic condition of the City and inter-governmental fiscal relations.
February 2019 Financial Plan, Fiscal Years 2019 - 2023 -The Capital Budget as adopted by the City Council by program and source. The Adopted Capital Budget is presented by unit of appropriation within agency with a programmatic description of each unit of appropriation.
Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects.
Released in each odd numbered year. It establishes long-range programmatic goals, setting forth priorities for the City to maintain its existing physical plant in a state of good repair, allows for programmatic replacement of components & program expansion.
Under the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit this monthly financial report.
Details the expense budget of certain agencies by major functional areas. Within each functional area, expenditures by personal services and other than personal services are presented.
Submission of the Modification to the Financial Plan for the City and Covered Organizations by the City to the Financial Control Board pursuant to Section 8.3 of the Financial Emergency Act.
November 2018 Financial Plan, Fiscal Years 2019 - 2022 - Submission of the Modification to the Financial Plan for the City and Covered Organizations by the City to the Financial Control Board pursuant to Section 8.3 of the Financial Emergency Act.
Under the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit this monthly financial report.
Under the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit this monthly financial report.
February 2019 Financial Plan, Fiscal Years 2019 - 2023. Highlights the Mayor's proposed budget initiatives; including estimates of expenditures and revenues; proposed expenditure reductions, recommended federal and State actions; the Capital Plan and financial program for the next four fiscal years.
This is to reexamine internal processes and policies, use resources efficiently, and re-estimate expenses, and re-estimate expenses, all without sacrificing service delivery to New York City residents
It is presented by unit of appropriation within agency with programmatic description of each unit of appropriation. The Revenue Budget lists revenue categories by agency.
Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects.
Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects.
Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects.
February 2019 Financial Plan, Fiscal Years 2019 - 2023 - Details by borough and service district the expense budgets of agencies that deliver local services.
February 2019 Financial Plan, Fiscal Years 2019 - 2023 - Details of financial plan by Agency, personal service expense, other than personal service expense and funding.