The Component Units of The City of New York
The New York City financial reporting entity consists of the City government and its Component Units. Component Units are legally separate organizations for which the City is financially accountable. There are two types of Component Units: Blended and Discretely Presented. A Blended Component Unit’s financial information is reported within the City’s financial statements as if it were a part of the City. This is due to the fact that, even though the Component Unit is a separate legal entity, it provides services exclusively to the City. A Discretely Presented Component Unit does not provide services exclusively to the City, and therefore its financial information is reported in a separate column on the City’s government-wide financial statements.
In order to ensure the City’s compliance with the Governmental Accounting Standards Board (GASB) standards regarding Component Units, all newly established entities with separate legal standing from the City (e.g. not-for-profits) must submit a copy of the completed Potential Financial Reporting Entity Questionnaire to the Technical and Professional Standards Unit by Email.
For additional information regarding Component Units, please refer to Comptroller’s Directive #22 – Accounting, Financial Reporting, and Audit Requirements for Entities Included in the Financial Reporting Entity of the City of New York.
1 Previously Discretely Presented Component Units.
2 As of Fiscal Year Ended June 30, 2017, TDC ceased operations.
3 As of Fiscal Year Ended June 30, 2016, BRAC ceased operations.
4 FSC ceased operations, as of July 31, 2020.
5 STAR ceased operations, as of Fiscal Year Ended June 30, 2021.
