Archives
New York City Cash Balance Projection Interim Update to June 1, 2024 Forecast
NYC Projected Cash Balances The June 2024 forecast preceded the Fiscal Year 2025 Adopted Budget Agreement which included several changes from the City’s Executive Plan (released in April) that had implications for the year-end Cash Balance. The following chart updates... Read More
Jul 11, 2024
New York City Cash Balance Projection June 2024
In the second half of FY 2023, the City’s cash balances reached record high amounts, benefitting from robust tax collections and Covid-19 Federal aid. The City began FY 2024 with $12.387 billion in cash-on-hand, an increase of $4.228 billion from... Read More
Jun 1, 2024
New York City Cash Balance Projection March 2024
On December 1, 2023, New York City’s unrestricted cash balance reached a seasonal low of $5.223 billion, compared to $3.966 billion in FY23 and $1.338 billion in FY22. The cash total includes the Revenue Stabilization Fund (RSF) balance of $1.959... Read More
Mar 1, 2024
Annual Summary Contracts Report for the City of New York
A Message from the New York City Comptroller Dear New Yorkers, I’m pleased to share the Annual Summary Contracts Report, covering Fiscal Year (FY23). Contracting is how the City meets many of our goals and provides services to New Yorkers.... Read More
Jan 30, 2024
Annual State of the City’s Economy and Finances
I. Executive Summary The Comptroller’s annual assessment of New York City’s economy and municipal finances – mandated by the City Charter – is an opportunity to gain perspective on the past year’s economic and fiscal developments and to formulate the... Read More
Dec 15, 2023
New York City Cash Balance Projection December 2023
The City’s cash balances usually dwindle in late November to early December, before the arrival of property tax payments which are due on January 1. But this November, the City’s cash balances remained historically high for this time of year,... Read More
Dec 1, 2023
New York City Cash Balance Projection September 2023
At the close of FY 2023 (on June 30, 2023), the City recorded the end-of-year cash balance of $12.387 billion, compared to $8.159 billion a year ago. Daily cash balances during FY23 averaged $11.122 billion, $3.598 billion higher than in... Read More
Sep 1, 2023
Spotlight: New York City Pension Fund Returns for FY 2023
Introduction The Office of the New York City Comptroller serves as investment advisor, custodian and trustee for the five New York City public pension funds (collectively referred to as the New York City Retirement Systems, or NYCRS). Through the efforts... Read More
Aug 8, 2023
New York City Cash Balance Projection June 2023
On April 21st, the City’s cash balance reached $18.7 billion, the highest amount on record, due to a combination of normal seasonal highs, timing, and circumstances particular to this year. The cash balance includes $1.954 billion in the Revenue Stabilization Fund... Read More
Jun 1, 2023
Spotlight: NYC Personal Income Tax 2019-2021
NYC Personal Income Tax 2019-2021 Tax revenues from New York City’s Personal Income Tax (PIT) increased by 11 percent in each of the first two full fiscal years following the start of the COVID-19 pandemic (FYs 2021 and 2022). Recent... Read More
Apr 11, 2023
New York City Cash Balance Projection March 2023
On December 1, 2023, New York City’s unrestricted cash balance reached a seasonal low of $3.966 billion, compared to $1.338 billion in FY22 and $2.143 billion in FY21. FY23 cash balance includes $1.954 billion in the Revenue Stabilization Fund (RSF),... Read More
Mar 1, 2023
New York City Cash Balance Projection December 2022
New York City is starting December 1, 2022 with $4.275 billion in cash, above last year’s figure by $2.628 billion. The cash balance includes $1.954 billion in the Revenue Stabilization Fund (RSF), the City’s rainy-day fund. The majority of funds,... Read More
Dec 1, 2022
MWBE and Emerging Manager Pension Investments & MWBE Participation in the Bureau of Public Finance
A Message from Comptroller Brad Lander Dear Reader, As the Chief Financial Officer for the City of New York, the Comptroller has an interlocking set of responsibilities to achieve strong returns for pension beneficiaries, to secure the City’s fiscal health,... Read More
Nov 1, 2022
New York City Cash Balance Projection September 1, 2022
At the close of FY 2022 (on June 30, 2022), the City recorded the end-of-year cash balance of $8.159 billion, compared to $8.469 billion a year ago. Daily cash balances during FY22 averaged $7.524 billion, $831 million below the prior... Read More
Sep 1, 2022
Comments on New York City’s Fiscal Year 2023 Adopted Budget
I. Executive Summary Fiscal Year 2023 begins in a period of significant economic uncertainty. There are meaningful signs of continued recovery from the pandemic, with jobs at 96% of pre-pandemic levels, tourism and Broadway rebounding, record numbers of new business... Read More
Aug 24, 2022
New York City Cash Balance Projection June 1, 2022
As of May 31, 2022, the cash balance stands at $7.632 billion, compared to $9.996 billion at the same time last year. This difference in balances is primarily due to the timing of Federal aid receipts, as described further below.... Read More
Jun 1, 2022