From an audit conducted on the New York City Economic Development Corporation (NYCEDC), it was found that the NYCEDC did not spend the public purpose funds that it acquired from the City. The failure to utilize these funds questions the original purpose of these funds. In addition, the Corporation failed to collect funds needed to further local community interests and did not adequately administer disbursements. Recommendations have been made to solve these issues.
The Fiscal Year 2012 Capital Commitment Plan presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects. These implementation schedules, derived by the respective agencies performing the project work, are the best assessment of the earliest possible start of the implementation milestone (scope, design, construction, etc.) being reported.
The Fiscal Year 2012 Capital Commitment Plan presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects. These implementation schedules, derived by the respective agencies performing the project work, are the best assessment of the earliest possible start of the implementation milestone (scope, design, construction, etc.) being reported.
In 2009 the state law granting the Mayor control of the New York City public school system was renewed. That renewal included a requirement that the New York City
Independent Budget Office "enhance official and public understanding" of educational matters of the school system. The law also requires the Chancellor of the school system to provide IBO with the
data that they deem nevessary to conduct their analyses.
This audit determined the adequacy of Department of Education and School Construction Authority controls over the collection, analysis, and reporting of school capacity
information to ensure the accuracy and reliability of the utilization data reported in the Enrolment-Capacity-Utilization Report, also referred to as the Blue Book.
In accordance with 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 monthly financial reports.