Under the New York City Charter, the Comptroller is reponsible for settling and adjusting claims for and against the City of New York. This task is carried out by the Bureau of Law and Adjustment, which is
comprised of a dedicated team of attorneys, claims professionals, and administrative staff.
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. 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.
The IBO has modeled five scenarios and how each would alter the amount of federal income taxes paid by New Yorkers in 2013. For each of the five possible outcomes considered, IBO estimates how much in income
taxes would flow from the city to the federal treasury as well as how the amounts owed by New Yorkers at various income levels are affected.
The Business Intergrity Commission is a law enforcement and regulatory agency. It eliminates organized crime and other forms of corruption in the industries it regulates. It conducts background checks on the applicant's business before providing them with a license or registration. This follow-up audit checks whether BIC had implemented the 13 recommendations stated in a previous audit.
The State of the City's Economy and Finances Dec 14, 2012 - The Comptroller's Office review of the November Plan finds that while the current year's budget is balanced and the outyear gaps appear manageable,
there still exists an underlying risk to budgetary stability.
New York City's debt has grown from $2,951 per capita in fiscal year 1990 to $9378 by fiscal year 2012, an increase of 218 percent. While New York City has a large amount of outstanding deby and great
capital needs, its credit rating remains strong.
An audit report was filed on December 6, 2012 on the Department of Education's (DOE) controls over the monitoring of individual consultants for mandated services. It was determined that there were significant control weaknesses which prevented DOE from effectively monitoring its individual consultants for mandated services. Such irregularities made it impossible to ensure that possibility of waste or fraud was being adequately controlled. Recommendations were made to rectify these issues.
This fiscal brief by the New York City Independent Budget Office (IBO) addresses the City's new EarlyLearn program. The brief addresses its purpose, the initiative taken to implement it, and the challenges that face it. Also included are data related to funding and child care enrollment.
A follow-up audit report was filed on December 3, 2012 on the Department of Finance's (DOF) Administration of the Senior Citizen Rent Increase Exemption (SCRIE) Program. It was determined that DOF had improved its administration of SCRIE. Of the seven recommendations made, DOF implemented six and partially implemented one. However, DOF did not perform death matches against all open accounts. In addition, DOF did not always follow its own policies and procedures pertaining to the recoupment of funds after a change in circumstance. Recommendations were made to rectify these issues.
Reports on the City's State of Good Repair need and the agencies' planned spending to address this need. The program consolidates results of cyclical field surveys and estimates the Capital and Expense needs to keep major City owned facilities and infrastructure in a State of Good Repair.