Tagged: Thomas DiNapoli

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.