County Executive’s Corner: “Moderately Stressed”

County Executive’s Corner: “Moderately Stressed”

When I first took office in January of 2014, this county was on the verge of a financial disaster. We faced a $138 million deficit and were $42,000 away from insolvency. When we took out a bond to pay the deficit, everyone said we would need double digit tax increases to make our payments. We […]

State Budget Lacks Transparency

State Budget Lacks Transparency

By Kathy Kahn At 11:45p.m. on March 31, Albany lawmakers passed Gov. Andrew Cuomo’s $168.3 Billion NYS Budget for fiscal year 2018-2019, but no mention of how to address the $4 billion deficit the state faces were included.  It is the fourth consecutive year the budget was passed “on time.” Among the positives: A uniform policy on sexual […]

New Rule for NY Pension Fund: Zero Women, Zero Votes

New Rule for NY Pension Fund: Zero Women, Zero Votes

From the Office of State Comptroller Thomas P. DiNapoli New York State Comptroller Thomas P. DiNapoli on Wednesday announced that the New York State Common Retirement Fund (the Fund) plans to vote against all board directors standing for re-election at companies that have no women on their boards. In situations where a company has just one woman […]

Upstate New York sees spike in sales tax revenue; Rockland has modest increase

Upstate New York sees spike in sales tax revenue; Rockland has modest increase

New York State Comptroller Thomas DiNapoli announced this week that overall local sales tax collections for calendar year 2017. Rockland County’s sales tax revenue increased 2 percent from $205 to $209 million.  Sales tax totaled $16.6 billion across New York State, an increase of $620 million, or 3.9 percent over the previous year, marking the highest year-over-year growth statewide since 2013. New […]

Using state authorities to fund unrelated debt must end, says NYS Comptroller

Using state authorities to fund unrelated debt must end, says NYS Comptroller

By Kathy Kahn During the Roaring 20s, New York created its first public authority—The Port Authority of New York. Since then, that bloated agency has been joined by over 600 “authorities” – a swamp where funding allocated to a specific authority often ends up underwriting unrelated state projects outside its purview. With New York’s state-funded debt […]

Wall Street Bonuses Up

PRESS RELEASE FROM THE STATE COMPTROLLER’S OFFICE Cash bonuses paid to New York City securities industry employees are forecast to rise by 8 percent to $20 billion during this year’s bonus season, according to an estimate released by State Comptroller Thomas P. DiNapoli. “Wall Street is still in transition, but it is slowly adjusting to changes in its economic […]