Dear John,

You can’t manage what you don’t measure.

That’s why I am delighted to share the tenth Popular Annual Financial Report (PAFR) covering Fiscal Year 2024!

This report is a concise and simplified overview of the financial details contained in the previously released Annual Comprehensive Financial Report (ACFR). The PAFR and accompanying ACFR provide an accounting of The City of New York’s finances, including the state of the local economy, and how public dollars are spent.

What does the PAFR tell us this year? New York City’s economy has many core strengths and continues to recover. But we also face significant challenges in areas like housing affordability, year-over-year job losses in important sectors like financial services and information services, and the City’s muddied fiscal outlook due to chronic “underbudgeting” by City Hall.

This year’s report also underscores the importance of better deploying the City’s sizable but nonetheless limited resources. By better managing taxpayers’ dollars, federal and state funds, and other revenues, we can more effectively meet the needs of all New Yorkers for a safer, thriving, healthy, well-educated, affordable, and well-managed city. And we can strengthen the City’s fiscal resilience for the years ahead.

I am thankful to the dedication of Comptroller’s Office staff, especially to our Bureau of Accountancy, which has compiled this report. My office remains committed to increasing transparency throughout City government and providing residents with insight into the delivery of City services.

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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