New York, NY — New York City Comptroller Brad Lander released the Annual Report on Capital Debt and Obligations for Fiscal Year (FY) 2024, an assessment of the City of New York’s long-term debt obligation, today. The report provides a comprehensive overview of the City’s debt, debt-incurring power (the difference between indebtedness and the debt limit), and debt affordability indicators over time and when compared with a peer group of U.S. cities. The City funds the lion’s share of its infrastructure projects through...
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...