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| April 4, 2013
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Message from Comptroller Thomas P. DiNapoli
Welcome to the winter edition of Labor New York.
A central mission of the Office of the State Comptroller is to make sure that taxpayer dollars are used effectively and efficiently to benefit the people of New York. Often we try to provide a longer term perspective to inform current debates and decisions. At a time when State and local governments – as well as many individual New Yorkers – are grappling with tight budgets, this long–term view can be particularly valuable.
The article inside on our recent Debt Impact Study is a good example. In the short run, borrowing can seem like a relatively pain–free solution to tough budget choices, more palatable than raising taxes or cutting services. Used prudently, debt can be a useful tool, enabling governments to secure capital assets that will be enjoyed by future generations. We need not only to continue our recent progress in sound budgeting, but also to institute real debt reform for better management of our debt obligations.
As detailed in another story, New York must also address a substantial gap between our need to maintain vital water, sewer and transportation infrastructure in the coming years and the funding projected for such improvements. State–of–the–art infrastructure played a key role in New York’s economic ascendancy, and a robust 21st century infrastructure will be essential to our revitalization and restored prosperity.
Since Hurricane Sandy blasted our shores, I have had the opportunity to visit several of the communities that were hit the hardest. As heart–wrenching as that experience has been, I’ve come away impressed by the courage, compassion and sheer determination New Yorkers have shown through the recovery effort. While we continue to work to provide immediate relief, we also need to learn the lessons from that catastrophe in order to be better prepared for the next emergency. My office is committed to working with you to make our State safer and stronger than ever.
Sincerely,
Thomas P. DiNapoli
State Comptroller |
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New York’s Heavy Debt Burden Limits Options
In a report issued this January, Comptroller Thomas DiNapoli emphasized the constraints imposed by the State’s history of imprudent borrowing. As detailed in the Debt Impact Study, New York has the second highest level of debt in the country, and is approaching its legal debt limit. More...
DiNapoli Provides New Tool to Aid Local Governments
Tough economic conditions have made the work of local government officials in New York exceptionally challenging. For example, as Comptroller Thomas DiNapoli noted in his Annual Report on Local Governments, published in December 2012, fund balances, which once helped cushion the budgets of counties, cities, towns, villages and school districts, are down 28 percent from their peak in 2006.More...
Labor Profile: Héctor Figueroa, President of SEIU Local 32BJ
In October 2012, Héctor Figueroa was elected President of Local 32BJ of the Service Employees International Union. More...
DiNapoli Works to Shine a Light on Corporate Political Spending
Acting on behalf of the New York State Common Retirement Fund, Comptroller Thomas DiNapoli filed suit in a Delaware court against Qualcomm Inc. in January 2013, asking the court to compel the company to permit immediate inspection of its books and records related to Qualcomm’s spending of shareholder funds for political purposes. More...
Cracks in New York’s Infrastructure Continue to Grow
New York’s aging water, sewer and transportation systems will require large investments in the coming years, but these vital infrastructure needs are becoming increasingly underfunded. In fact, New York faces a shortfall of up to $89 billion in funding over the next two decades, according to a December 2012 report issued by Comptroller Thomas DiNapoli. More...
DiNapoli Proposes Help for Communities Affected by Hurricane Sandy
When Hurricane Sandy struck New York this fall, public attention focused on the scope of the devastation and disruption Sandy inflicted; its cost in human suffering; the resilience and heroism displayed by residents and first responders; and the remarkable generosity of volunteers and donors from across the State. More...
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If you have any comments or suggestions for future topics to be addressed in this newsletter, we want to hear from you:
This e-mail was sent to greggao@gmail.com. |
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