What an eventful few weeks it’s been, John.

From our hard-hitting investigation into the City’s $432 million no-bid contract with DocGo to rallying with UAW workers, it’s been a busy August in the Comptroller’s Office as we work to make our city more affordable – and there’s still plenty left to go.

Here’s a roundup of some of our recent work to deliver a more transparent, more fiscally-responsible, and more equitable New York City:

FY 2024 Pension Returns: I was proud to announce that the five New York City pension systems achieved a combined 10% return for FY 2024. This strong, robust return will boost retirement security for our City's more than 750,000 current and future retirees, save taxpayers $1.81 billion, and create additional revenue to invest in vital City services.

Supporting UAW: When workers fight, workers win. I was proud to stand with UAW Local 259, Bronx Borough President Vanessa L. Gibson, incoming Assembly Member Claire Valdez, and Rep. Alexandria Ocasio-Cortez in the Bronx. We demanded that Baco Enterprises reinstate illegally-fired worker Alex Patterson and recognize the union.

Housing Resources: John, new Yorkers are feeling the affordable housing crisis hard, and our office is doing everything we can to shed light and provide support on this critical issue. At Pa’lante Harlem’s housing resource fair, our team connected with Harlemites on audits, policy reports, and resources to make the City’s housing system fairer for everyone.

FY 2025 Adopted Budget: At this year’s Financial Control Board meeting, we released a full analysis of New York City’s FY 2025 Adopted Budget. Our three main takeaways: NYC’s economy faces big challenges (like housing affordability), the Adams Administration’s chronic underbudgeting muddies financial planning, and the City must adopt stronger fiscal framework.

One of the City's biggest fiscal weaknesses is the major underbudgeting of expenses (like uniformed police overtime) by $3 billion a year. That's not an honest depiction of what the real costs are. New Yorkers deserve more budget transparency.

Immigration: I traveled by ferry to Ellis Island to participate in New American Leaders’ Immigration History and Economics Panel. Welcoming new arrivals isn't just the right thing to do – it's a smart investment in our city's future. When we support asylum seekers, we're investing in a safety net that benefits all New Yorkers by adding new workers, entrepreneurs, and taxpayers to our economy.

Workers’ Rights Trainings: Our Workers' Rights Team is constantly forging important relationships across the city. We are proud to partner with the Mexican Consulate to educate NYC's immigrant community about prevailing wage and workers’ rights. Shout out to Eduardo from our team for providing this month's training!

The Affordability Crisis: Household debt is on the rise, and New Yorkers are feeling it. Our latest study found that delinquency rates on auto loans, and especially credit cards, have increased in big ways over the past year – with NYC's rates higher than the national average. Bronxites and folks with low incomes – who are disproportionately Black and brown – are hit the hardest.

DocGo Audit Findings: My office's latest audit found what we long suspected: The Adams Administration failed to sufficiently oversee the City's no-bid $432 million contract with DocGo. As reported in the New York Times, City Hall wasted MILLIONS of taxpayer dollars on unnecessary services and empty hotel rooms. This fiscal mismanagement, coupled with hazardous conditions and lack of case management for asylum seekers, is nothing short of cruelty.

You can watch our full announcement on our audit findings here.

Climate Change Super Fund Act: Alongside advocates and allies, I urged Governor Kathy Hochul to sign the Climate Change Superfund Act. This is a piece of landmark legislation that shifts the economic burdens of climate change from taxpayers to Big Oil. We have public support and the state legislature passed it. Now it just needs to be signed ASAP.

John, if this seems like a lot, it’s because it is. New Yorkers work so hard – commuting long hours, grinding at work, paying so much rent – so the Office of the Comptroller works hard, too. We’ll have more updates soon.

Thanks,

Brad

Office of the New York City Comptroller

Our mailing address is:
Office of New York City Comptroller Brad Lander
1 Centre Street
New York, NY 10007
United States

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