Speaker Menin, Chair Lee, and members of the Finance Committee and City Council— thank you for the opportunity to share my Office’s assessment of the FY 2027 Executive Budget and the May Financial Plan for Fiscal Years 2026 through 2030. This is a time of enormous contradictions in New York City’s economy and budget. On the one hand, our city’s economy is strong today by most measures. On the other hand, we are now heading into a period of greater economic uncertainty than any time in recent memory. On the one hand, the stock market is near an all-time high....
New York, NY — The Office of New York City Comptroller Mark Levine today released A Framework for NYPD Structural Reform: An Analysis and Accountability Plan for Overtime Spending, Controls, and Risk. The NYC Comptroller’s Office estimates uniform spending at approximately $890 million for FY 2026 which would be the third-highest year on record, behind only FY 2024 and FY 2025. The report examines the driving causes of recurring uniformed overtime. "Overtime spending has been a clear cost the NYPD wants to rein in, especially as New York City seeks to reduce recurring expenses in light of projected budget gaps,” said City Comptroller Mark Levine. “Overtime should be used...
New York, NY — The Office of New York City Comptroller today released Who’s Minding the Storefront? An Analysis of Storefront Vacancies, a comprehensive assessment of storefront vacancies across the five boroughs. While the citywide vacancy rate is improving, the study found recovery since the COVID-19 pandemic has been uneven, with as much as 20% of storefronts in some neighborhoods sitting empty. "Retail storefront occupancy is a key indicator of the economic health, vibrancy, and strength of a neighborhood, as well as our entire city,” said City Comptroller Mark Levine. “This report gives us a...
New York, NY– The New York City Comptroller’s Office today announced a new partnership with Hebrew Free Loan Society (HFLS) to expand access to zero-interest loans for small businesses across the five boroughs—providing critical support for neighborhood entrepreneurs who continue to face barriers to affordable capital. Hebrew Free Loan Society is one of New York City’s oldest nonprofit lenders, founded in 1892 to provide interest-free loans to New Yorkers in need of access to safe capital. Today, HFLS, a nonsectarian...
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