This report, issued by the Independent Budget Office, compares the per student public financial support for charter schools to the per student funding at traditional public schools. It was found that spending at each school varied based on their location.
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.
From an audit conducted on the Department of Transportation (DOT), it was found that the DOT's controls over the issuance of disability parking permits are inadequate. There are inefficient procedures, weak controls and poor recordkeeping, creating an environment that allows for fraudulent behavior. Recommendations have been found to rectify these issues.
The City Charter requires that the Office of Management and Budget (OMB) publish documentation of forecasting methodologies used for projecting tax revenues for those taxes which account for five percent or more of total City tax revenues.
From an audit conducted on the Department of Finance (DOF), it was found that Commercial Motor Vehicle Tax (CMVT) data, administered by the DOF, is accurate, secure and accessible. However, the billing process is weak, with an unpaid balance of $8 million and tax stamps not being properly administered. Recommendations have been made to address these issues.
From an audit conducted on Lakeside Restaurant Corporation, it was found that Lakeside did not comply with most of the major terms of its license agreement with the Department of Parks and Recreation. Although Lakeside maintains the required insurance and security deposit, it suffers from internal control weaknesses and deficiences over the collecting, recording and reporting of revenue, leaving potential for fraud. Recommendations have been made to address these issues.