Thomas DiNapoli

Comptroller DiNapoli: Watertown in good fiscal health

Jun 13, 2013
Joanna Richards

State Comptroller Tom DiNapoli came to Watertown on Wednesday to commend the city's leadership on its sound financial stewardship. DiNapoli's office is rolling out a program of annual fiscal “stress tests” for municipalities and school districts. And the comptroller said Watertown sets an example for prudent financial planning. 

Hundreds gathered at the state Capitol to rally for public financing of political campaigns. The measure remains in limbo in the state Senate and Gov. Andrew Cuomo faces questions on whether he’s working hard enough for the proposal to pass.

They came in buses 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 New York state comptroller’s office has released its annual report on New York’s 113 Industrial Development Agencies (IDAs), with concerns raised about the effectiveness and transparency of the organizations.

Karen DeWitt/NY State Public Radio

New York state’s 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 state. 

Money from a state pension fund is flooding into an Auburn company that manufactures, distributes and services electrical products. It's one way the state is trying to encourage economic growth in upstate New York.

A leading budget watchdog group is urging rejection of a key component of Gov. Andrew Cuomo’s budget plan. It would allow cities and schools to put off some payments to their pension funds.

New York State's financial overseer is warning Syracuse's finances face "systemic problems."

A new state report describes the city of Utica as a city in fiscal decline. The state Comptroller's office has released a fiscal snapshot of the city as part of its new fiscal monitoring system.

Gov. Andrew Cuomo’s pension stabilization plan could face some obstacles in the legislature.  Assembly Speaker Sheldon Silver says he wants to know what the state comptroller thinks of the idea first.

Municipalities and school districts in New York state will soon get graded on their fiscal health. A fiscal monitoring system run by the state comptroller's office will publicly identify local governments that may be heading towards a fiscal cliff.

Governor Andrew Cuomo’s annual budget presentation is slated for Tuesday afternoon. It comes as the state’s comptroller, Tom DiNapoli, finds revenues are not coming to New York in quite the amount anticipated.   

The State Comptroller estimates that Hurricane Sandy and its aftermath will cost the state as much as $18 billion.

Profits on Wall Street are going to be up this year, according to a new report from the New York state comptroller, but are still below their pre-recession highs. The report also finds fewer job losses in the securities industry, and many economic uncertainties ahead.

Top state officials say it is going to be another difficult year for the state budget. Governor Andrew Cuomo has already told state agencies to keep spending flat, and those that depend on state programs are not counting on big increases.

New York State continues looking for ways to help local governments on the edge of fiscal collapse.  And, the idea of a "super control board" is still a possibility.

There are signs that the New York state’s finances are getting healthier, but local governments in New York continue to flounder.

Farms still drive New York state's economy, according to a report from the New York State Comptroller's office, which outlines just how important agriculture is to the state's economy.

County-run nursing homes across New York state face growing crises as county governments, strapped for cash, consider ending their historical role as providers of inpatient care to the elderly.

A report from the state comptroller finds local governments in New York are struggling financially. Around 10 percent are running deficits or suffering from cash flow problems, and there is no end in sight.

New York's fiscal watchdog wants lawmakers to give his office more power  over economic development organizations that he says are being misused in some cases, by local governments in New York state. Comptroller Thomas DiNapoli has his eye on Local Development Corporations.

Local governments continue struggling in the wake of the recession. At a Local Government Leadership Institute meeting in Syracuse Wednesday, officials looked for answers to  some of the problems they still face following the Wall Street meltdown.

More tax breaks does not equal more jobs.

That's according to State Comptroller Thomas DiNapoli's latest report on New York's industrial development agencies (IDAs).

In his fifth report on IDAs [PDF], DiNapoli says the number of jobs created by the local economic development engines dropped by 22,000 from the year before.

DiNapoli also cites a $483 million gap in what IDAs gave out in tax breaks and how much they took in via payments-in-lieu-of-taxes (PILOTs).

That breaks down, the report finds, to a $2,659 cost per job - up 9 percent from the year before.

"Taxpayers are not getting enough bang for their buck when it comes to IDAs," DiNapoli said in a statement.

The governor says he’s waiting for some uncertainties in the world markets to stabilize before updating the state’s financial picture, and has delayed releasing the state’s mid year budget report, which was due in late October.

Cuomo budget officials have said they are also waiting to count some tax collections delayed by the hurricanes. They’ve also post poned some scheduled budget hearings that have been part of an effort in recent years to jump start the budget process.

The State Comptroller finds that Wall Street is having another bad year, and that could have a negative impact on New York State's budget.

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