Statement of financial condition of the Relief and Pension Fund of the Department of Street Cleaning of the City of New York as of June 30, 2023 and report on operations of said Fund for the year ending June 30, 2023.
BERS administers the BERS Qualified Pension Plan (the “QPP”) and the BERS Tax Deferred Annuity Program (the “TDA Program”)
The presentation includes all disclosures necessary to enable readers to gain an understanding of the system’s financial activities and analyses.
The ACFR contains information about the assets and liabilities of NYCERS' pension fund. Statistical tables show the composition of NYCERS' membership, which is used by the Actuary to determine the amount that employers must contribute to the Fund each year in order to pay statutory benefits.
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 ACFR contains information about the assets and liabilities of NYCERS' pension fund. Statistical tables show the composition of NYCERS' membership, which is used by the Actuary to determine the amount that employers must contribute to the Fund each year in order to pay statutory benefits.
Overview of the New York City Police Pension Fund's combining financial activities for the year end. All changes affecting the assets and deferred outflow and liabilities inflow of the funds are reflected on an accrual basis when the activity occurred, regardless of the timing of the cash flows.
The Audit Bureau is required by the City Charter to perform audits in accordance with Generally Accepted Government Auditing Standards (GAGAS). These standards are established by the Comptroller General of the United States in conjunction with the Government Accountability Office (GAO), and are foun
This audit found that EDC did not disclose over $224 million in expenditures as ferry-related in its audited financial statements and that EDC understated the City’s subsidy for the ferry operations by $2.08, $2.10, $3.98 and $4.29 for Fiscal Years 2018, 2019, 2020, and 2021, respectively.
This audit was performed to assess the New York City Department of Transportation’s (DOT’s) procurement of the Brooklyn Bridge Rehabilitation of Approach Spans and Ramps and Painting of the Entire Bridge contract (Contract No. 20100016889 or Contract No. 6) ...
Although Verizon promptly remitted monthly 911 surcharges to DOF, the auditors were unable to determine whether Verizon billed and collected the 911 surcharge from all customers required to pay the surcharge, or whether Verizon paid all 911 surcharge revenues that it collected from customers to DOF.
As part of their tuition payments, full-time and part-time students pay $55 and $20, respectively, in student activity fees per semester for student government and other student activities.
This audit was conducted to determine whether New York City (City) Health + Hospitals (H+H)[1] ensures that its facilities comply with applicable inventory rules and guidelines regarding its management of personal protective equipment (PPE) and other medical surgical supplies.
The audit makes several recommendations that will improve DANY’s controls over its office equipment inventory. These appear in the body of this report.
The Department of Finance (DOF) is responsible for administering the Senior Citizen Homeowners’ Exemption (SCHE) Program which provides a partial property tax exemption for senior citizens who own one, two, or three family homes, condominiums, or cooperative apartments in New York City (the City).
The audit makes several recommendations that will improve the MBPO’s controls over its inventory of computers and computer-related equipment. These appear in the body of this report.
The audit makes several recommendations that aim to improve DFTA’s controls over its payments to HCAs for home care services. These appear in the body of this report.
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.
The New York City Department of Probation (DOP) is responsible for supervising adults and juveniles who are placed on probation by judges in the Supreme, Criminal, and Family Courts. This audit was commenced to determine whether DOP appropriately approved, authorized, and paid overtime in compliance
Comptroller’s Office analysis of the FY23 Preliminary Budget (PowerPoint) Federal Stimulus Funds Tracker , Focus on the Basics, Invest for a More Inclusive Recovery, Build a More Resilient City
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).
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.
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 Queens County Public Administrator (QCPA) did not consistently comply with Internal Revenue Service (IRS) requirements for collecting and validating vendors’ tax information and IRS requirements for reporting income that it disbursed to several employees.
The ACFR contains information about the assets and liabilities of NYCERS' pension fund. Statistical tables show the composition of NYCERS' membership, which is used by the Actuary to determine the amount that employers must contribute to the Fund each year in order to pay statutory benefits.
Overview of the NYC Police Pension's Fund combined financial activities for the year end. The Annual Comprehensive Financial Report represent the activities of the fund for FY2021.
Audit scope period, Fiscal Years 2019 and 2020, the Bronx County DA, BCDA, the objective of this audit was to determine whether the BCDA maintained adequate fiscal controls over its Personal Services (PS) expenditures.
The audit scope period, Fiscal Years 2019 and 2020 (July 1, 2018 through June 30, 2020), Queens County DA, the QCDA, the objective of this audit was to determine whether the QCDA maintained adequate fiscal controls over its Personal Services (PS) expenditures.
The U.S. economy continued to rebound in the first three quarters of 2021 after the dramatic economic contraction and rebound of 2020, growing at a rate of 5.7 percent. Growth early in the year was boosted by the $1.9 trillion American Rescue Plan Act, passed into law in March.
Annual Comprehensive Financial Report (ACFR) for Fiscal Year 2021 for the NYC Fire Pension Fund. The ACFR contains combined financial statements and disclosures for the qualified pension plan, Firefighters Variable Supplement Funds and Fire Officers Variable Supplement Funds.
BERS administers the BERS Qualified Pension Plan “QPP” and the BERS Tax Deferred Annuity Program “TDA Program”
QPP is a cost sharing, that provides pension benefits to employees.
TDA Program provides a means of deferring income tax payments on member’s voluntary tax-deferred contributions.
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.
The City of New York’s (the “City”) debt finances the capital maintenance and upkeep of an infrastructure that must accommodate not only 8.8 million City residents but also, in a typical year, hundreds of thousands of daily commuters and millions of tourists annually.
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 Letter Report concerns the New York City (City) Comptroller’s audit of the purchasing practices of the Independent Budget Office (IBO). The audit found two areas in which the IBO’s practices did not comply with applicable Comptroller’s directives...
This audit found that New York City Police Pension Fund’s (PPF’s) has established control procedures to detect and prevent improper pension benefit payments to or in the names of deceased recipients. The audit found two deficiencies in PPF’s control procedures.
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 CAFR contains information about the assets and liabilities of NYCERS' pension fund. Statistical tables show the composition of NYCERS' membership, which is used by the Actuary to determine the amount that employers must contribute to the Fund each year in order to pay statutory benefits.
The CAFR contains information about the assets and liabilities of NYCERS' pension fund. Statistical tables show the composition of NYCERS' membership, which is used by the Actuary to determine the amount that employers must contribute to the Fund each year in order to pay statutory benefits.
New York City Fire Pension Fund 2019 Comprehensive Annual Financial Report includes combined financial statements and disclosures for the Qualified Pension Plan (QPP), the Firefighters' Variable Supplements Fund and the Fire Officers' Variable Supplements Fund