New York State Comptroller Thomas DiNapoli is out with his first set of municipal fiscal stress scores based on his office’s new Fiscal Stress Monitoring System. The numbers were revealed during a teleconference today.
Hundreds gathered at the State Capitol to rally for public financing of political campaigns. The measure remains in limbo in the State Senate and Governor Cuomo faces questions on whether he’s working hard enough for the proposal to pass.
They came in busses from all over New York to give state lawmakers their message- big money is corrupting politics. They say the state should adopt New York City’s public campaign finance system, which allows candidates to match every dollar they collect in small donations with seven dollars of government funds.
The city of Poughkeepsie is facing an $11 million deficit in its general fund brought on, according to New York State Comptroller Thomas DiNapoli, by unrealistic budgeting by city officials—including overestimating revenues. DiNapoli, in a new audit, says Poughkeepsie’s debt burden has gone up 45 percent over the past five years as its financial condition deteriorates.
Industrial development agencies across New York granted $1.5 billion in tax breaks to companies that promised to expand, and create new jobs, in 2011. In a new audit, state comptroller Thomas DiNapoli says the IDA’s, which operate at the local and country level, have improved their overall performance but some say there are still reasons to be concerned.
The New York state Comptroller kicked off a week-long forum at SUNY’s Rockefeller Institute to examine the plight of economically stressed local governments and school districts across the New York.
Comptroller Tom DiNapoli says the “new normal” for schools and local governments around the state is prolonged fiscal stress. He says a combination of rising health care and pension costs, reduced state aide, and two-year-old property tax cap have put the squeeze on municipalities.
New York Governor Andrew Cuomo is on a statewide tour to promote the newly passed state budget, saying it shows that the state is functional again. But not everyone is completely convinced.
Governor Cuomo has been touring major upstate regions, promoting the passage of the third on time or early budget in a row. In Buffalo, he held up a hockey puck as a prop, comparing the achievement to hockey’s “hat trick”.
General Electric has agreed to analyze its potential liability in relation to recently-discovered PCBs in the upper Hudson River. GE will soon resume its remediation of PCBs it discharged into the Hudson decades ago, and at least one environmental group hopes the company will incorporate the additional dredging this year.
As New York State officials and legislators pore over Governor Andrew Cuomo’s proposed budget, State Comptroller Thomas DiNapoli today released his office’s estimate of Wall Street bonuses. He says the annual forecast is in line with state and New York City budget expectations.
Cash bonuses paid to New York City securities-industry employees are forecast to rise by 8 percent, to $20 billion, for last year, driven, in part, by bonuses deferred from prior years. That’s according to DiNapoli.