State comptroller launches COVID-19 relief fund tracker

Link:https://www.timesunion.com/state/article/DiNapoli-launches-tracker-of-COVID-19-relief-funds-16533107.php?IPID=Times-Union-HP-CP-Latest-News

Excerpt:

The state has received $21 billion in federal pandemic relief money and has spent $6.1 billion since the end of September, according to a new online tracker released by the state comptroller’s office.

Despite less than a third of the money being spent to date, much of the federal cash has a general spending plan ascribed to it. The state has received just over half of its expected federal aid, which is to total $39.8 billion, according to the tracker. 

“Thankfully New York is getting billions of dollars of federal funding that really has been a lifeline,” state Comptroller Thomas P. DiNapoli told the Times Union. “When you’re seeing an infusion of funding at that magnitude, it is important to follow the money and make sure it is spent as intended.”

Author(s): Joshua Solomon

Publication Date: 14 Oct 2021

Publication Site: Times Union

DiNapoli: Local Sales Taxes Jump 49.2 Percent in Second Quarter

Link: https://www.osc.state.ny.us/press/releases/2021/07/dinapoli-local-sales-taxes-jump-49-point-2-percent-second-quarter

Graphic:

Excerpt:

Sales tax revenue for local governments in New York state rose by 49.2% in the second quarter (April to June 2021) compared to the same period last year, a dramatic increase from last year’s weak collections during the first wave of the COVID-19 pandemic, according to State Comptroller Thomas P. DiNapoli. Sales tax collections during this period grew by just over $1.6 billion and even surpassed collections reported during the second quarter of 2019, before the onset of the pandemic.

…..

The size of the increase largely reflects extremely weak collections in the April to June period of 2020. However, even compared to pre-pandemic collections for the same period in 2019, statewide collections in 2021 were up 8.7% or $396 million. Every region outside of New York City experienced two-year growth over 18%. The Mid-Hudson and North Country regions both reported increases of more than 29%.

Author(s): Thomas DiNapoli

Publication Date: 23 July 2021

Publication Site: NY State Comptroller

State sales tax collections rise sharply in April

Link: https://news.wbfo.org/post/state-sales-tax-collections-rise-sharply-april

Excerpt:

In a review of the state’s economy, Comptroller Thomas DiNapoli’s office states that sales tax collections in April were more than forty-five percent higher than the same period last year.

Sales tax collections in 2021 totaled $1.5 billion. In Western New York, Erie County saw a nearly 50 percent increase this April over the previous year. The largest increases were seen in Niagara and Allegany Counties at 63 percent. The lowest growth was in Cattaraugus County at nearly 43 percent.


DiNapoli attributes the incredible growth to the re-opening of many businesses.

Author(s): CHRIS JAMELE

Publication Date: 15 May 2021

Publication Site: WBFO NPR

NY State Pension Commits to $400 Million in Sustainable Investments

Link: https://www.ai-cio.com/news/ny-state-pension-commits-400-million-sustainable-investments/

Excerpt:

The $247.7 billion New York State Common Retirement Fund has committed approximately $400 million to two funds as part of its Sustainable Investments and Climate Solutions (SICS) Program.

The commitments are part of New York State Comptroller Thomas DiNapoli’s climate action plan to lower investment risks from climate change and help shift the pension fund to net-zero greenhouse gas emissions within the next 20 years.

“While climate change poses investment risks, it also creates opportunities for the state pension fund to invest in the companies and funds that are best positioned for the low-carbon future,” DiNapoli said in a statement. “The commitments we announced today aim to take advantage of the growth in climate investing and to strengthen our portfolio for the long-term.”

Author(s): Michael Katz

Publication Date: 26 April 2021

Publication Site: ai-CIO