New York State Comptroller Thomas DiNapoli

NYS Comptroller Thomas DiNapoli
NYS Comptroller Thomas DiNapoli

The State Comptroller says he’s looking for more start up companies and entrepreneurs to invest in, as part of a partnership between the state’s pension fund and private equity managers.

Audit Shows A Dutchess Town In Fiscal Stress

Sep 17, 2013
Tax Credits, flickr

The New York state comptroller says an audit finds that a Dutchess County town faces financial challenges.

Federal lawmakers from New York are showing their support for a piece of legislation that aims to jumpstart development and cleanup efforts on contaminated land.

Recently, Democrats U.S. Senator Kirsten Gillbrand and Congressman Paul Tonko met with local leaders in Albany’s Sheridan Hollow neighborhood to announce their support for the Brownfields Utilization, Investment, and Local Development – or BUILD – Act.

A New York official says a public utility that's supposed to provide low-cost electricity for residents is spending money on planes, pilots and six-figure salaries.

New Yorkers pay some of the highest electric rates in the country.  State Comptroller Thomas DiNapoli says the New York Power Authority could provide more rate relief "if it appropriately focused its resources."

The City of Detroit’s declaration of bankruptcy has left some in New York wondering whether any upstate cities will be next. State officials say they are trying to help with financial planning guidance, but local governments say more needs to be done.

State Comptroller Tom DiNapoli has created a fiscal stress monitoring system that measures the financial health of New York’s local governments. A preliminary report found two dozen cities, counties and villages are moderately to severely fiscally stressed.  DiNapoli say he hopes they can avoid the fate of Detroit.

Tommy Miles, Flickr

Three bills concerning Superstorm Sandy are headed to the New York governor’s desk.

WAMC Photo by Dave Lucas

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.

Karen DeWitt

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.

Karen DeWitt

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.

Courtesy NYS OSC

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.

State Comptroller Has Concerns With Rockland's Budget

Apr 23, 2013
Tax Credits, flickr

The New York State Comptroller says he is concerned with the budget in one Hudson Valley county.

Karen DeWitt

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.

Rev Stan, flickr

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.

WAMC Photo by Dave Lucas

ALBANY, N.Y. (AP) — New York state's comptroller says there are some big question marks in Gov. Andrew Cuomo's budget proposal. Comptroller Thomas DiNapoli says it would increase debt, rely on one-shot revenues, and includes overly optimistic projections of tax revenues.

DiNapoli did credit the budget as a move toward long-term fiscal balance.

Cuomo's $143 billion proposal is boosted by anticipated federal disaster aid. The current budget is $134 billion.

DiNapoli criticized the 2013-14 spending plan for relying on $1.4 billion in temporary revenue.

NYS to Implement System to Diagnose Fiscal Stress

Jan 29, 2013
NYS Comptroller Thomas DiNapoli
NYS Comptroller Thomas DiNapoli

There’s a new system ready to be put in place in New York State to help identify local governments and school districts under financial strain. The idea is to flag financial problems before they spiral into a crisis.

The New York State Comptroller’s office has finalized plans to implement a statewide fiscal monitoring system to identify local governments and school districts under or nearing financial stress, by classifying their fiscal conditions. Brian Butry is a spokesman for State Comptroller Thomas DiNapoli.

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