New York, NY – New York City Comptroller Brad Lander released a report announcing that investments by the City’s five pension funds with minority- and women-owned asset management firms grew to $23.1 billion in Fiscal Year (FY) 2024, an increase of $6.3 billion, or 37.5% since Lander took office. Assets under management by MWBE firms grew from $16.8 billion in FY22 (11.6% of actively-managed US assets), to $19.5 billion in (12.7%) in FY23, to $23.1 billion (13.3%) in FY24. Investment firms owned...
New York, NY — Today, the Office of New York City Comptroller Brad Lander released the Popular Annual Financial Report (PAFR) for the fiscal year (FY) ending June 30, 2024. The PAFR is a comprehensive summary of the previously released Annual Comprehensive Financial Release (ACFR) containing the City’s audited financial statements and detailed data on the City’s finances. “New York City’s economy has many core strengths and continues to recover from the pandemic, but nonetheless faces significant challenges in areas like housing affordability and...
New York, NY — The New York City Office of Administrative Trials and Hearings (OATH) ruled that MTA New York City Transit Authority’s contracts covering hundreds of workers who cleaned subway cars during the COVID-19 pandemic were subject to prevailing wage requirements. OATH found that the work of cleaning and disinfecting subway cars qualifies as “building service work” under Article 9 of the New York Labor Law. The case will now proceed to a trial at OATH over the underpayment...
New York, NY – New York City Comptroller Brad Lander and the coalition of advocates and legal experts, convened by the Comptroller’s office, celebrate the settlement of the Riders Alliance v. Hochul and City Club v. Hochul lawsuits. Transit advocates sued to ensure that congestion pricing would go into effect, as required by state law. The settlement serves as a legally binding commitment that the parties will take every step to ensure that New York City’s congestion pricing program will begin as...