Nearly half of the City’s property is
tax exempt – 49.5 percent, compared to 32.0 percent for
the median city. This is due to the presence of Syracuse
University and other colleges, as well as hospitals and
government buildings. Meanwhile, eight percent of the
properties are tax delinquent.3 These factors limit the ability
of the City to fully collect property taxes, and force it to be
more dependent on other revenue sources.
Regional Snapshot: 2019 Federal Opportunity ZonesARCResearch
This month's regional snapshot reviews the Federal Opportunity Zones program - what it is, which communities have received the designation, and how those communities compare to their county and the region as a whole.
Sunny Isles Beach Neighborhood Real Estate Report 02-19. Jorge J Gomez, REALTOR®-Area statistics, prices, homes for sale and general information about Sunny Isles Beach, FL
The document summarizes issues with debt relief initiatives for highly indebted poor countries (HIPCs). It makes three key points:
1) Neither previous HIPC initiatives nor the new Cologne Initiative (CI) adequately address three basic problems - that debt assessments should be based on countries' ability to pay rather than export ratios, most HIPC governments cannot repay debts due to urgent social needs requiring resources, and current arrangements imperfectly offset debt with new loans and grants in an unstable manner.
2) For most HIPC countries, unmet social needs require significant sustained net resource inflows, larger than what is currently received. To provide these, most or all old debts must be cancelled, with new in
The document presents data trends in Canada from 2006 to 2011 related to indicators such as crime rates, traffic violations, physicians, and obesity. It also discusses unemployment rates for immigrants and youth. Specific communities are highlighted that have implemented programs to address safety and job opportunities for youth.
Thad Williamson discusses alternative approaches to measuring and understanding poverty. He argues poverty is best understood as a clustering of social and economic disadvantages that constrain well-being and human functioning, not just as an income level. He presents data showing that in Richmond, 36% of households fall below half the U.S. median income, 48% fall below 70% of the median, and 14% earn less than $10,000 annually, suggesting poverty and economic insecurity affect nearly half the city's population. Williamson advocates considering poverty through a "capabilities" lens that focuses on expanding human capacities beyond just income.
This document provides an overview of concepts related to income distribution and poverty. It discusses key topics such as the sources of household income including wages, property income, and government transfers. It also covers the distribution of income and wealth in the US, measures of inequality like the Lorenz curve and Gini coefficient, the concept of poverty, and debates around redistribution policies including arguments for and against redistribution and examples of major redistribution programs.
12 income distribution, poverty, and discriminationNepDevWiki
The chapter discusses income distribution and poverty in the United States. It introduces the Lorenz curve as a measure of income inequality, showing that inequality has changed little since 1929. The poverty line is defined as three times the cost of a minimal diet, and around 12-13% of Americans live below this level. Cash transfers like Social Security count towards the poverty line, while in-kind benefits like food stamps do not. Critics argue welfare reduces work incentives and administrative costs are high. Proposed reforms include a negative income tax and workfare programs. Discrimination and lack of equal pay can also impact individuals' wages.
This document provides an annual monitoring report on financial inclusion in the UK from 2013-2017. It summarizes key findings from recent data on topics like household finances, bank account access, savings, borrowing, and debt. The economic crisis has significantly impacted unemployment, wages, and incomes in the UK. While fewer people lack bank accounts, nearly 2 million adults remain unbanked. Most households have little capacity to handle unexpected expenses and many are struggling to make ends meet through cutting spending or falling into problem debt. Future reports will continue tracking changes in these financial inclusion indicators through 2017.
Regional Snapshot: 2019 Federal Opportunity ZonesARCResearch
This month's regional snapshot reviews the Federal Opportunity Zones program - what it is, which communities have received the designation, and how those communities compare to their county and the region as a whole.
Sunny Isles Beach Neighborhood Real Estate Report 02-19. Jorge J Gomez, REALTOR®-Area statistics, prices, homes for sale and general information about Sunny Isles Beach, FL
The document summarizes issues with debt relief initiatives for highly indebted poor countries (HIPCs). It makes three key points:
1) Neither previous HIPC initiatives nor the new Cologne Initiative (CI) adequately address three basic problems - that debt assessments should be based on countries' ability to pay rather than export ratios, most HIPC governments cannot repay debts due to urgent social needs requiring resources, and current arrangements imperfectly offset debt with new loans and grants in an unstable manner.
2) For most HIPC countries, unmet social needs require significant sustained net resource inflows, larger than what is currently received. To provide these, most or all old debts must be cancelled, with new in
The document presents data trends in Canada from 2006 to 2011 related to indicators such as crime rates, traffic violations, physicians, and obesity. It also discusses unemployment rates for immigrants and youth. Specific communities are highlighted that have implemented programs to address safety and job opportunities for youth.
Thad Williamson discusses alternative approaches to measuring and understanding poverty. He argues poverty is best understood as a clustering of social and economic disadvantages that constrain well-being and human functioning, not just as an income level. He presents data showing that in Richmond, 36% of households fall below half the U.S. median income, 48% fall below 70% of the median, and 14% earn less than $10,000 annually, suggesting poverty and economic insecurity affect nearly half the city's population. Williamson advocates considering poverty through a "capabilities" lens that focuses on expanding human capacities beyond just income.
This document provides an overview of concepts related to income distribution and poverty. It discusses key topics such as the sources of household income including wages, property income, and government transfers. It also covers the distribution of income and wealth in the US, measures of inequality like the Lorenz curve and Gini coefficient, the concept of poverty, and debates around redistribution policies including arguments for and against redistribution and examples of major redistribution programs.
12 income distribution, poverty, and discriminationNepDevWiki
The chapter discusses income distribution and poverty in the United States. It introduces the Lorenz curve as a measure of income inequality, showing that inequality has changed little since 1929. The poverty line is defined as three times the cost of a minimal diet, and around 12-13% of Americans live below this level. Cash transfers like Social Security count towards the poverty line, while in-kind benefits like food stamps do not. Critics argue welfare reduces work incentives and administrative costs are high. Proposed reforms include a negative income tax and workfare programs. Discrimination and lack of equal pay can also impact individuals' wages.
This document provides an annual monitoring report on financial inclusion in the UK from 2013-2017. It summarizes key findings from recent data on topics like household finances, bank account access, savings, borrowing, and debt. The economic crisis has significantly impacted unemployment, wages, and incomes in the UK. While fewer people lack bank accounts, nearly 2 million adults remain unbanked. Most households have little capacity to handle unexpected expenses and many are struggling to make ends meet through cutting spending or falling into problem debt. Future reports will continue tracking changes in these financial inclusion indicators through 2017.
The document discusses whether lifestyle in Lebanon reflects sustainable development and identifies areas for improvement. It analyzes Lebanon's social, economic, and environmental conditions, finding high poverty and unemployment, debt, pollution, and unsustainable resource use. Recommendations include investing in renewable energy, green jobs, waste management, public transportation, and sustainable agriculture to transition Lebanon to a greener economy and improve living standards.
Community development a look at a city - wrap up lecture and seminar discus...Michael Latin
Wrap up discussion for a Community Development course that incorporates ideas discussed throughout the semester and has participants examine what went wrong with this community and brainstorm around steps that could taken to address the concerns and re-mediate its redevelopment.
This presentation explores the policy impact on Aboriginal housing in Toronto.
Michael Shapcott, Director of Housing and Innovation
www.wellesleyinstitute.com
Follow us on twitter @wellesleyWI
The document discusses housing affordability in Chatham, Orange, and Chapel Hill school districts. It provides data on median home prices and trends over three years in these areas. To analyze affordability, it examines 2017 residential property sales within different price ranges, showing typical numbers of bedrooms/bathrooms and square footage for homes priced under $100,000, between $100-150K, $150-250K, and $250-300K. Across areas, lower priced homes generally have fewer bedrooms and were built older. Chatham offers slightly more for the price compared to Orange and Chapel Hill school districts.
The document discusses trends in healthcare real estate investment in central Florida. As Florida's population ages, the percentage of residents over 65 is expected to grow significantly in central Florida by 2025. Developers are responding to this demographic trend by increasing investments in healthcare facilities and medical office developments in the region. Several large and small speculative medical office projects are currently under construction or proposed in anticipation of increased demand from a growing senior population.
Sipple - Shared Services: A Common Reform that WorksJohn Sipple
These are slides from my June 17, 2014 presentation at the Municipal Exchange (MIX) conference in Troy, NY. I reported research findings on shared municipal and school district services, including obstacle, motivators, and outcomes.
NYS Inequality - The Need for Redistributionmbralow
Governor Cuomo is proposing major budget cuts that will hurt low-income New Yorkers, students, and public workers. He wants to cut Medicaid, education funding, and lay off thousands of state employees. This will disproportionately impact the poor, students at CUNY, and public sector unions. At the same time, inequality is rising in New York as the wealthy get tax breaks. The top 1% of New Yorkers now make 50% more than the national average. To fix this and close the budget deficit, the document argues we should raise taxes on the rich and corporations, end tax loopholes, and fight against the wealthy interests that control politics and oppose redistributing wealth.
The document discusses the decline of retirement security for American workers and analyzes the shift from traditional pensions to individual retirement plans like 401(k)s. It finds that this shift has exposed workers to greater risks and costs, undermining retirement outcomes. Specifically, it notes that Generation X workers can expect to receive just 65% of their pre-retirement income in retirement, compared to 77% for early Baby Boomers. This is due to factors like stagnant wages, rising costs of living, and the replacement of traditional pensions by individual plans that place more risks and burdens on workers. The report examines problems with the current system and considers policy proposals to better ensure retirement security.
The document discusses Georgia's efforts to reform public services and reduce corruption after the Rose Revolution in 2003. It describes how corruption was endemic across many government services prior to 2003, including the traffic police, universities, tax administration, and provision of utilities. After the revolution, the new government implemented major reforms to reduce corruption in specific public services such as creating professional patrol police, strengthening tax collection, cleaning up customs, improving power supply reliability, deregulating businesses, and decentralizing municipal services. The reforms achieved significant results, improving transparency and integrity.
This document summarizes that global debt levels have increased since 2011 after falling in 2008-2011. It identifies countries that are either currently in debt crises or at high risk of future crises based on debt levels and economic indicators. While lending has fueled faster growth in some highly indebted low-income countries, it has not reduced poverty or inequality. These countries remain vulnerable to economic shocks due to commodity-dependent economies. The rise of public-private partnerships also hides true debt levels and risks of future crises.
Since 2010 St. Louis nonfarm payrolls have grown by 4.5 percent. Two office-occupying sectors are near the top, both growing by more than 9 percent. However, the region still has some work to do. Across the nation nonfarm payrolls have increased 8.8 percent since 2010.
The Minimum Income Standard (MIS) represents what families need for an acceptable standard of living, according to members of the public.
This analysis compares the living standards of different household types to MIS in 2010 and 2022.It also breaks down the effect of different policies on household incomes in 2022.
View the extended version of this presentation: http://www.lboro.ac.uk/media/wwwlboroacuk/content/crsp/downloads/reports/How%20is%20public%20policy%20affecting%20peoples%20ability%20to%20make%20ends%20meet.pdf
also published:
Households below a Minimum Income Standard 2008/09 to 2015/16
Report by:Matt Padley, Laura Valadez and Donald Hirsch.
https://www.jrf.org.uk/report/households-below-minimum-income-standard-200809-201516
JRF blog: www.jrf.org.uk/blog/budget-must-improve-living-standards-struggling-families
1) Michigan ranks low (29th and 48th) in measures of tax fairness, with lower-income families and businesses contributing a larger share of taxes compared to other states.
2) Since 1999, Michigan's median household income has fallen $15,633 (24%) after adjusting for inflation, and recent tax reforms have shifted the burden further onto working families and retirees.
3) The document proposes a graduated income tax to make the system more equal by cutting taxes for those earning under $165,000 and raising taxes slightly on the top 1% to fund infrastructure, education, and community services.
Pathfinding a Soft Landing to Energy DescentBrad Attig
Intentional Communities Pioneer How to Do More with Less
Laird Schaub (2013). Pathfinding a Soft Landing to Energy Descent. Grassroots Economic Organizing (GEO) Newsletter, Volume 2, Issue 16.
This is a Power Point Presentation that has been created as part of IGCSE Global Perspectives Project. We hope that through this form of social media, we'd be able to reach all those that are concerned about the issue as well as those that are unaware of the issue and thereby make a change in the society that we exist in. Thank You For Watching!!!
This document summarizes financial insecurity data for Boston households. It finds that 46% of Boston households are liquid asset poor, meaning they lack sufficient savings to cover basic expenses for 3 months. Liquid asset poverty disproportionately impacts communities of color, with over 69% of black households and 75% of Hispanic households considered liquid asset poor. The data also shows high rates of liquid asset poverty across income and education levels, indicating widespread financial vulnerability among Boston families.
Given the city’s relative fiscal health, is there a need to look to budget options? The simple answer is, “of course.” There is never enough money to meet all of the needs expressed by the city’s communities. And besides the need for more funds, there can be changes that could help improve equity and efficiency in the city’s spending and taxation—a benefit that could be associated with some of the budget options we present.
The Taylor Law (particularly the Triborough Amendment provision) expires on J...Luis Taveras EMBA, MS
The Taylor Law requires that the municipal administration of collective bargaining be “substantially equivalent” to administration of the Taylor Law by the Public Employee Relations Board (“PERB”).6 Accordingly, the New York City Collective Bargaining Law (“NYCCBL”), applicable to public employees in New York City, includes a provision analogous to the Triborough Amendment, and administration of this provision tracks with PERB’s administration of state law.
a) Maintaining approximate compensation parity among employees within the same employment categories (for example, among junior software engineers);
b. Maintaining certain compensation relationships among employees across different employment categories (for example, among junior software engineers relative to senior software engineers)
The document discusses whether lifestyle in Lebanon reflects sustainable development and identifies areas for improvement. It analyzes Lebanon's social, economic, and environmental conditions, finding high poverty and unemployment, debt, pollution, and unsustainable resource use. Recommendations include investing in renewable energy, green jobs, waste management, public transportation, and sustainable agriculture to transition Lebanon to a greener economy and improve living standards.
Community development a look at a city - wrap up lecture and seminar discus...Michael Latin
Wrap up discussion for a Community Development course that incorporates ideas discussed throughout the semester and has participants examine what went wrong with this community and brainstorm around steps that could taken to address the concerns and re-mediate its redevelopment.
This presentation explores the policy impact on Aboriginal housing in Toronto.
Michael Shapcott, Director of Housing and Innovation
www.wellesleyinstitute.com
Follow us on twitter @wellesleyWI
The document discusses housing affordability in Chatham, Orange, and Chapel Hill school districts. It provides data on median home prices and trends over three years in these areas. To analyze affordability, it examines 2017 residential property sales within different price ranges, showing typical numbers of bedrooms/bathrooms and square footage for homes priced under $100,000, between $100-150K, $150-250K, and $250-300K. Across areas, lower priced homes generally have fewer bedrooms and were built older. Chatham offers slightly more for the price compared to Orange and Chapel Hill school districts.
The document discusses trends in healthcare real estate investment in central Florida. As Florida's population ages, the percentage of residents over 65 is expected to grow significantly in central Florida by 2025. Developers are responding to this demographic trend by increasing investments in healthcare facilities and medical office developments in the region. Several large and small speculative medical office projects are currently under construction or proposed in anticipation of increased demand from a growing senior population.
Sipple - Shared Services: A Common Reform that WorksJohn Sipple
These are slides from my June 17, 2014 presentation at the Municipal Exchange (MIX) conference in Troy, NY. I reported research findings on shared municipal and school district services, including obstacle, motivators, and outcomes.
NYS Inequality - The Need for Redistributionmbralow
Governor Cuomo is proposing major budget cuts that will hurt low-income New Yorkers, students, and public workers. He wants to cut Medicaid, education funding, and lay off thousands of state employees. This will disproportionately impact the poor, students at CUNY, and public sector unions. At the same time, inequality is rising in New York as the wealthy get tax breaks. The top 1% of New Yorkers now make 50% more than the national average. To fix this and close the budget deficit, the document argues we should raise taxes on the rich and corporations, end tax loopholes, and fight against the wealthy interests that control politics and oppose redistributing wealth.
The document discusses the decline of retirement security for American workers and analyzes the shift from traditional pensions to individual retirement plans like 401(k)s. It finds that this shift has exposed workers to greater risks and costs, undermining retirement outcomes. Specifically, it notes that Generation X workers can expect to receive just 65% of their pre-retirement income in retirement, compared to 77% for early Baby Boomers. This is due to factors like stagnant wages, rising costs of living, and the replacement of traditional pensions by individual plans that place more risks and burdens on workers. The report examines problems with the current system and considers policy proposals to better ensure retirement security.
The document discusses Georgia's efforts to reform public services and reduce corruption after the Rose Revolution in 2003. It describes how corruption was endemic across many government services prior to 2003, including the traffic police, universities, tax administration, and provision of utilities. After the revolution, the new government implemented major reforms to reduce corruption in specific public services such as creating professional patrol police, strengthening tax collection, cleaning up customs, improving power supply reliability, deregulating businesses, and decentralizing municipal services. The reforms achieved significant results, improving transparency and integrity.
This document summarizes that global debt levels have increased since 2011 after falling in 2008-2011. It identifies countries that are either currently in debt crises or at high risk of future crises based on debt levels and economic indicators. While lending has fueled faster growth in some highly indebted low-income countries, it has not reduced poverty or inequality. These countries remain vulnerable to economic shocks due to commodity-dependent economies. The rise of public-private partnerships also hides true debt levels and risks of future crises.
Since 2010 St. Louis nonfarm payrolls have grown by 4.5 percent. Two office-occupying sectors are near the top, both growing by more than 9 percent. However, the region still has some work to do. Across the nation nonfarm payrolls have increased 8.8 percent since 2010.
The Minimum Income Standard (MIS) represents what families need for an acceptable standard of living, according to members of the public.
This analysis compares the living standards of different household types to MIS in 2010 and 2022.It also breaks down the effect of different policies on household incomes in 2022.
View the extended version of this presentation: http://www.lboro.ac.uk/media/wwwlboroacuk/content/crsp/downloads/reports/How%20is%20public%20policy%20affecting%20peoples%20ability%20to%20make%20ends%20meet.pdf
also published:
Households below a Minimum Income Standard 2008/09 to 2015/16
Report by:Matt Padley, Laura Valadez and Donald Hirsch.
https://www.jrf.org.uk/report/households-below-minimum-income-standard-200809-201516
JRF blog: www.jrf.org.uk/blog/budget-must-improve-living-standards-struggling-families
1) Michigan ranks low (29th and 48th) in measures of tax fairness, with lower-income families and businesses contributing a larger share of taxes compared to other states.
2) Since 1999, Michigan's median household income has fallen $15,633 (24%) after adjusting for inflation, and recent tax reforms have shifted the burden further onto working families and retirees.
3) The document proposes a graduated income tax to make the system more equal by cutting taxes for those earning under $165,000 and raising taxes slightly on the top 1% to fund infrastructure, education, and community services.
Pathfinding a Soft Landing to Energy DescentBrad Attig
Intentional Communities Pioneer How to Do More with Less
Laird Schaub (2013). Pathfinding a Soft Landing to Energy Descent. Grassroots Economic Organizing (GEO) Newsletter, Volume 2, Issue 16.
This is a Power Point Presentation that has been created as part of IGCSE Global Perspectives Project. We hope that through this form of social media, we'd be able to reach all those that are concerned about the issue as well as those that are unaware of the issue and thereby make a change in the society that we exist in. Thank You For Watching!!!
This document summarizes financial insecurity data for Boston households. It finds that 46% of Boston households are liquid asset poor, meaning they lack sufficient savings to cover basic expenses for 3 months. Liquid asset poverty disproportionately impacts communities of color, with over 69% of black households and 75% of Hispanic households considered liquid asset poor. The data also shows high rates of liquid asset poverty across income and education levels, indicating widespread financial vulnerability among Boston families.
Given the city’s relative fiscal health, is there a need to look to budget options? The simple answer is, “of course.” There is never enough money to meet all of the needs expressed by the city’s communities. And besides the need for more funds, there can be changes that could help improve equity and efficiency in the city’s spending and taxation—a benefit that could be associated with some of the budget options we present.
The Taylor Law (particularly the Triborough Amendment provision) expires on J...Luis Taveras EMBA, MS
The Taylor Law requires that the municipal administration of collective bargaining be “substantially equivalent” to administration of the Taylor Law by the Public Employee Relations Board (“PERB”).6 Accordingly, the New York City Collective Bargaining Law (“NYCCBL”), applicable to public employees in New York City, includes a provision analogous to the Triborough Amendment, and administration of this provision tracks with PERB’s administration of state law.
a) Maintaining approximate compensation parity among employees within the same employment categories (for example, among junior software engineers);
b. Maintaining certain compensation relationships among employees across different employment categories (for example, among junior software engineers relative to senior software engineers)
Texas has more immigrants than Oklahoma and New Mexico have people. Among states, only California has more immigrants than Texas; New York has a similar number.
This document provides an overview of Puerto Rico's financial challenges, including:
1) Puerto Rico has experienced 12 consecutive budget deficits and has a high and growing debt burden of 90% of GDP.
2) The economy entered recession in 2006 and has yet to emerge, exacerbating the financial problems.
3) Puerto Rico relies heavily on federal subsidies and has limited prospects for long-term growth due to its dependence on these subsidies and transfers.
MPI TechCon 14 - The Evolution of Audience Response SystemsJohn Pytel
This document discusses the evolution of audience response systems (ARS) and compares different types of ARS technologies. It begins with an introduction to ARS and their purpose in facilitating real-time engagement and participation between presenters and audiences. It then examines the advantages and disadvantages of the three main types of ARS: hardware-based systems, SMS-based systems, and web-based systems. It concludes that while all ARS types have improved, web-based systems now provide the best balance of accessibility, functionality, cost, and scalability.
The document summarizes the fiscal challenges facing the small city of Salamanca, NY. It notes that Salamanca has a declining population and tax base, with high poverty and unemployment rates. The city had benefited from revenues from a nearby casino but lost this funding source due to a dispute. As a result, the city depleted its reserves and now faces a $2.5 million budget shortfall. The state provided a one-time $5 million loan but the city will require ongoing assistance.
This document examines how susceptible jobs are to computerization. It develops a new methodology to estimate the probability of computerization for 702 occupations based on their characteristics. The study finds that about 47% of US jobs are at risk of computerization. It also finds that wages and education levels are negatively correlated with an occupation's probability of being computerized. The document provides historical context on technological unemployment and reviews literature on how computerization has impacted jobs.
Most recently, the strengthening economy has improved the budgetary outlooks of most state and local governments, leading them to reduce their pace of fiscal tightening. At the same time, though, fiscal policy at the federal level has become significantly more restrictive. In particular, the expiration of the payroll tax cut, the enactment of tax increases, the effects of the budget caps on discretionary spending, the onset of the sequestration, and the declines in defense spending for overseas military operations are expected, collectively, to exert a substantial drag on the economy this year. The Congressional Budget Office (CBO) estimates that the deficit reduction policies in current law will slow the pace of real GDP growth by about 1-1/2 percentage points during 2013, relative to what it would have been otherwise.
The document summarizes Novell's roadmap for Open Enterprise Server 2 (OES2), including upcoming support pack 3 (SP3). SP3 will include enhancements to Domain Services for Windows, CIFS, QuickFinder, and iFolder. It also discusses the "Remote Office Appliance" which will help centrally manage remote sites. Long term, Novell is focusing on simplification, interoperability, and the "Ponderosa" vision of decoupling workloads and deploying appliances for the cloud or on-premise.
This handbook is a key document that sets out the financial framework for academy trusts reflecting their status as companies, charities and public bodies.
The Churchill School and Center (Churchill), located in New York City, is a private not-for-profit education corporation that includes the Churchill School (Churchill), the Churchill Center (Center), and a Development Office. Churchill provides special education services, pursuant to Section
853 of the State Education Law (Law), to children from kindergarten through the 12th grade
classified as having a learning disability and/or speech-language impairment. The Center offers
educational programs to non-Churchill students and professional development workshops to parents, teachers, and other service providers. The Development Office administers the fundraising,
endowment, marketing, special events, and alumni activities for the affiliated entities.
On average, California’s public sector workers are more highly educated. Of full-time workers, 55% hold a four-year college degree in the public sector compared to 35% in the private sector. Educational attainment is the single most important predictor of earnings—thus it plays a vital role in this analysis. On average, California state and local governments pay college-educated labor less than private employers. The earnings differential is greatest for professional employees, lawyers and doctors. On the other hand, the public sector appears to set a floor on compensation. The earnings of those with a high school degree or less is higher in state and local government than it is for similar workers in the private sector. There are other significant personnel differences between the public and private sector workforces. The age (median) of a typical worker in state and local government is 44 compared to 40 in the private sector. Furthermore, the state and local government workforce has more women (55%) compared to the private sector (40%).
School districts are highly dependent on local revenue generated through property taxes. The declining housing market has therefore taken a toll on school districts. Property values have declined in nearly 88 percent of the school districts located in the Long Island and Mid-Hudson regions. Since these districts derive roughly 75 percent of their revenue locally, reduced property values lead to revenue stress.
This document provides a summary of collective bargaining units in New York City government as of December 31, 2012. It includes the union name, job titles covered, headcount of positions, average compensation for those titles, and the estimated cost of a 1% salary increase for each bargaining unit. In total it represents 292,096 employees across 85 different unions with an average compensation of $103,239 and a total estimated cost of $301,556,939 for a 1% salary increase across all units.
"In 2013, the Non-Profit Revitalization Act was signed into law, and requires the adoption by non-profit corporations of robust financial oversight requirements, conflict-of-interest policies, and whistleblower policies. Although the Non-Profit Revitalization Act improved the accountability of New York’s non-profit corporations, including the CUNY college foundations, the New York Not-for-Profit Corporation Law (which the Act amended) does not provide specific guidance regarding how non-profit foundations use their assets."
NYC Comptroller's Office: Annual Summary Contracts Report for Fiscal Year 201...Luis Taveras EMBA, MS
The New York City Charter (“Charter”) requires that all contracts and agreements entered into by City agencies be registered by the Comptroller prior to implementation. This requirement also extends to all agreements memorializing the terms of franchises, revocable consents or concessions. The Comptroller’s Office is charged with a number of Charter-mandated responsibilities intended to safeguard the City’s financial health, including contract registration. The contract registration process ensures there is adequate funding in the City’s treasury (or under the control of the City) to cover the cost of contracts as well as to ensure that both the contracted vendors and process are free from corruption. The Bureau of Contract Administration (“BCA”) within the Comptroller’s Office fulfills this registration responsibility on behalf of the Comptroller by serving as the final oversight in the City’s procurement process.
Puerto Rico's true deficit has been shrinking and the Krueger Report shows that Puerto Rico can generate growing fiscal surpluses starting in 2017 through fiscal and structural reforms. The report outlines revenue increases of $3-4 billion annually by 2020-2025, expense cuts of $2-2.5 billion annually in the same period, and structural economic reforms. Puerto Rico has room to increase revenues through improved tax collection rates and increasing taxes in line with U.S. states. It also has opportunities to lower expenses given spending growth outpacing population decline. Historical examples show countries can achieve strong economic growth while implementing fiscal adjustments of 2% of GDP.
Investment in inland transport infrastructure across the OECD has declined to a record low of 0.8% of GDP in 2013, falling back to 1995 levels. Investment levels in Central and Eastern European countries halved since 2009, accounting for 1% of GDP compared to 1.9% in 2009. Mature economies increasingly invest in rail while transition economies focus on roads. The volume of investment doubled in India since 2005 but its share of GDP declined as GDP grew faster than investment.
The document discusses several key points about cyber warfare and coding:
1. Coding is a form of maneuver in cyber warfare, as code can be changed and adapted quickly to respond to new threats or vulnerabilities. Technological agility will be important in cyber warfare where there are no compensating physical assets.
2. Cyber situational awareness is different than traditional battlespace awareness, but they should still be related. Integrating cyber and physical target data will be important for coordination.
3. Culture is important in cyber operations and cannot be done in isolation. Participating in communities of practice and using open source tools and techniques will be necessary to learn from others and adapt quickly to changes.
The document provides an overview of the City of Rochester's population, economy, revenues, expenditures, debt, and budget challenges. Key points:
- Rochester has experienced long-term population decline and high unemployment since the decline of Eastman Kodak.
- Revenues rely heavily on volatile sales tax while expenditures are dominated by employee benefits, which are growing rapidly.
- The city has exhausted most of its constitutional tax and debt limits, limiting revenue flexibility.
- Projected budget gaps in upcoming fiscal years could exhaust available fund balances within two years absent corrective actions.
Enrollment for the dependent Yonkers school district increased by almost 6 percent from fiscal
year 2009 to fiscal year 2012, while overall state public school enrollment declined by 0.8
percent. This enrollment increase has added to the pressures on the City’s budget. Assuming
the budget gap is filled in part by utilizing fund balance, the City could quickly exhaust its
balance. The City is considering possible gap closing measures including increases in the City
income tax, property tax and real estate transfer tax, as well as increases in the contribution
rates of employee health plans and limiting growth in the school district’s operating costs. The
City is also advocating for the reassessment of all properties in Westchester County in the
hope that this will save money by reducing the number of tax certiorari claims.
The City of Rye was settled in 1660 and is the oldest permanent settlement in Westchester County. Rye was first incorporated as a village in 1904 and then chartered as a city in 1942. Between 1950 and 1970, the population of the City increased by 34 percent, and it has remained relatively stable at just under 16,000 since then.
Located on Long Island Sound near the Connecticut border, approximately 25 miles northeast of midtown Manhattan, Rye is primarily a residential suburban community. The typical Rye homeowner is a business executive or professional who is employed in New York City.
The City has exhausted 93 percent of
its Constitutional Tax Limit, and can
only raise an additional $505,000
through property taxes, limiting its
financial flexibility.
The document provides an overview of fiscal and economic factors related to the City of Albany, New York. It discusses that Albany is the capital of New York State and home to many state government offices and properties that are tax exempt. This reduces the city's tax base. The document also notes that Albany has higher than average poverty rates that increase demand for social services. It summarizes population trends, economic indicators like income and unemployment, the city's tax base, revenues, and expenditures.
This document summarizes data from a 2020 Housing Stability Task Force presentation by the Colorado Apartment Association. It finds that rent collection rates have remained strong in Colorado during the pandemic, at only slightly below 2019 levels. Eviction filings have also slowed significantly since April 2020 compared to typical levels. The data shows no correlation between eviction filings and changes in unemployment or average rent levels in Colorado. The document concludes that Colorado is not experiencing a housing crisis in terms of ability to pay rent or eviction rates. It argues policies should focus on decreasing the time and costs associated with the eviction process to balance housing access and stability.
The document summarizes trends in the US housing market and economy after the 2008 crash. It notes that high unemployment and distressed real estate markets will continue dragging down the economy for several years. While home prices and ownership rates remain low, apartment construction is increasing to meet pent-up demand from younger renters. The recovery is also slowing home price declines and foreclosures in hardest hit states like California, Nevada, Arizona, Michigan and Florida. Overall, Americans will increasingly live as renters in urban areas of the South and West as the housing market and economy gradually improve.
- Cochise County's population grew by 0.6% in 2009 to 140,263, a slower rate than the previous year, likely due to the economic downturn. Benson saw the fastest growth at 2.6% while Douglas' population declined by 2.5%.
- Sierra Vista's population grew by 1.5%, the second highest in the county. Its growth rate of 23.4% from 2000-2009 was the highest in the county if Douglas' prison annexation is excluded.
- The economic downturn has slowed population growth in Cochise County and Arizona as struggling housing and tight job markets deter relocation. Growth is expected to pick up again as the economy recovers.
The document provides information from a presentation on workforce development programs in Broome and Tioga counties. It summarizes poverty rates and the impact of childhood poverty in the region. In particular, it finds that 33.3% of the population of Binghamton lives below the poverty line, and 49.4% of children in Binghamton live in poverty. The presentation discusses programs offered by Broome-Tioga Workforce NY to help residents access employment opportunities and training.
“The prosperity the United States enjoys today is due in no small part to investments the nation has made in research and development at universities, corporations, and national laboratories over the last 50 years.”
"Our $559,667 sample also included four coaching-related payment requests, totaling $12,530, for training and meeting expenses. We found that three of the four sampled coaching-related payments, totaling $4,135, were not adequately supported. None of these three payment requests contained copies of the bills for which NYCLA requested reimbursement, such as an invoice from the venue in which a meeting was held."
This audit report summarizes the findings of a follow-up audit to evaluate whether the New York City Department of Education (DOE) implemented recommendations from a prior 2014 audit related to inventory controls over computer hardware. The follow-up audit found that DOE did not improve its inventory controls and that its decentralized inventory records remained inaccurate and incomplete. Specifically, DOE could not account for 4,993 out of 14,329 pieces of computer hardware inspected at 9 sampled sites. The audit makes 19 recommendations for DOE to implement a centralized inventory system, conduct regular monitoring of site inventory records, determine locations of unaccounted hardware, and provide sites with training and resources to improve controls. In its response, DOE did not acknowledge the
"From 2014 through fiscal 2017, for the first time on
record, New York City’s pension contributions exceeded
actual and projected (mostly bond-financed) capital
expenditures. In other words, the city has been spending
more to meet its pension obligations than to build
and renovate bridges, parks, schools, and other public
assets. In fiscal 2018, roughly 57% of contributions will
be needed simply to continue paying down what the
city still owes its pension systems, in order to continue
paying benefits promised to retirees. The rest will
cover the “normal” cost of added benefits earned by
city employees. In other words, if the pension systems
had been fully funded in the past, the city would have
saved more than $5 billion."
American Competitiveness Initiative:Leading the World in Innovation aci06-b...Luis Taveras EMBA, MS
The document summarizes the American Competitiveness Initiative announced by President George W. Bush in 2006. The initiative commits $5.9 billion in 2007 and $137 billion over 10 years to strengthen the United States' position as a global leader in science and technology through increased investment in research and development, education reforms, and workforce training programs. Specifically, it aims to double funding for physical science and engineering research at agencies like the National Science Foundation and Department of Energy, improve K-12 math and science education, and provide training for 800,000 workers annually. The goal is to sustain American innovation, productivity, and economic competitiveness in the face of increasing challenges from abroad.
"Council Speaker Melissa Mark-Viverito, a Manhattan Democrat, and Council woman Julissa Ferreras-Copeland, a Queens Democrat who is chairwoman of the council’s Committee on Finance, praised the administration’s efforts to find cost-saving measures but said they remain concerned about rising shelter and pension costs."
"As consumers, Latinos wield more than $1.3 trillion in buying power, and the number of affluent Hispanic households is growing much faster than for the overall population: In 2015, there were approximately 370,000 US Latino households with incomes over $200,000, an increase of 187 percent since 2005."
" The Success Academy Board of Trustees failed to adequately monitor aspects of the finance affairs of SA and did not consistently follow the procedures for operation required by its bylaws"
This document provides information about a school advisory service firm called Optimization with an Impact (OpIm). It offers three levels of financial advisory services to help schools optimize their budgets and purchasing. The basic service focuses on budget management and purchasing optimization for $25,000. Additional services include budget management optimization for $20,000 and purchasing optimization for $15,000. The goal is to improve instruction, the school environment, and local community through efficient use of school financial resources.
“OpIm relieves instructional leaders of non-instructional tasks so they can focus on student achievement and professional development of the teaching staff.”
New York State depends on Wall Street tax revenues even more than New York City, because the State relies more heavily on
personal and business taxes and does not levy a property tax as the City does.
This document lists 8 references used in another work. The references are books published between 2012 and 2015 that discuss topics such as the relationship between the public and private sectors, the impact of technology on jobs, issues with the sharing economy and capitalism, tax policy, corruption, and national security.
"You would be surprised that in some schools, the restriction appears to be implicitly understood, since they neither have a line for temporarily restricted funds on their balance sheet nor the statement below in their respective financial statement notes".
The Educational Impact of Broadband Sudsidies for Schools Under ERateLuis Taveras EMBA, MS
"The “universal service fund” pays for E-Rate with a 17.9 percent tax on long distance telecommunications. The term may sound odd; “long distance” is an artifact of the past for most Americans. However, international calls over plain old telephone network are still made, mostly by Latin American migrants living in the U.S. The telecommunications levy hits them particularly hard. More affluent households, on the other hand, use Facetime, Skype and other apps that avoid the tax."
http://www.politico.com/agenda/story/2016/08/stop-spending-money-connecting-schools-to-the-internet-000191
A San Francisco tech worker wrote an open letter complaining about the city's homeless population. He referred to them as "riff-raff" and said their "pain, struggle and despair" made commuting unpleasant for "wealthy" residents. The letter sparked backlash for its lack of sympathy. Homeless individuals interviewed expressed frustration with wealthy tech workers who do not care about others and want to "grab anything they can get." While the tech worker apologized for his word choice, he faced criticism for failing to acknowledge the daily challenges of homelessness.
Even among tech companies, Apple's rates are low. And while the company has remade industries, ignited economic growth and delighted customers, it has also devised corporate strategies that take advantage of gaps in the tax code, according to former executives who helped create those strategies.
Gleevec, a drug that treats a rare form of leukemia, was approved in 2001 with a list price of $26,400 per year. Since then, its price has steadily increased, reaching over $120,000 per year currently. While the drug has competition now, its price increases were incremental at first and accelerated even before competitors entered the market. The price hikes have helped make Gleevec a top revenue drug for its manufacturer, Novartis, even though it was initially not expected to be a major moneymaker due to the small patient population. However, critics argue there is a lack of meaningful competition in the drug market that would normally drive prices down.
"Nationwide, charter schools reported an average graduation rate of 70 percent. Hawaii, Arizona, Indiana, Ohio and California have the highest percentages of low-graduation-rate charter high schools."
Examining the stories of successful startup businesses finds each co-founder often brings something special to the table that allowed the company both to get off the ground and then thrive.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
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Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
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Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Ending stagnation: How to boost prosperity across Scotland
The City of Syracuse
1. OFFICE OF THE NEW YORK STATE COMPTROLLER
Thomas P. DiNapoli • State Comptroller
2013 FISCAL PROFILE
CITY OF SYRACUSE
Overview • Nearly half of the City’s property
is tax exempt, compared to only 32
The City of Syracuse is the fifth largest city in the percent for the median city in the
State, with a population of 145,170 in 2010. While, like State. 10.9 percent of properties in
most upstate cities, Syracuse has lost a large portion the City are vacant, compared to 9.2
of its population since the mid-twentieth century, this percent for median city.
decline seems to have slowed – the City lost only 0.9
percent of its population from 2000 to 2010. • Eight percent of the City’s properties
are tax delinquent. This and the
Currently, more than eight percent of the properties high level of tax exemptions make
in the City could be seized for tax delinquency. it difficult for the City to collect
Syracuse has taken advantage of the recently revenues from property tax.
enacted Land Bank legislation to set up a Land
Bank jointly with Onondaga County. This is meant • The City has a large number of
to aid in the acquisition, management, and re-use of families living in poverty – 25.6
abandoned property. percent. The State average is only
10.8 percent.
Like Buffalo, Rochester and Yonkers, Syracuse has a
• Revenues grew at an average annual
dependent school district for which it must raise taxes
rate of 3.7 percent from 2001 to
and issue debt. As a result, the City has exhausted
2011, compared to an average
68.6 percent and 52.9 percent of its constitutional tax
growth rate of 3.4 percent for all
and debt limits, respectively.
cities in the State.
The City of Syracuse faces many of the same • Over the decade, State aid grew at an
challenges as other upstate cities, including average annual rate of 4.8 percent.
declining population and deteriorating industrial At the same time, the real property
sector. However, it also has a larger than average taxes increased at an average annual
percentage of its property tax base either exempt or rate of 3.1 percent.
delinquent. These factors, and growing fixed costs
in the budgets of the City and the dependent school • The City has outstanding debt of
district, have created chronic budget gaps. $292 million and has exhausted
52.9 percent of its Constitutional
Debt Limit, much higher than the
23 percent of debt limit used by the
median city in the State.
DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY
2. Population and Economic Factors
The City lost over a third of its population between 1950 and 2010, however the decline slowed
to only a 0.9 percent decline from 2000 to 2010.
The City has a very large percentage
of its families living in poverty, 25.6 Syracuse Metropolitan Area
percent, the second-highest rate
for any city in the State and much
higher than the statewide average of Syracuse
10.8 percent.1 It also has a relatively Metropolitan
Area
low median age – only 29.6, while Oswego
Oswego
the State median age is 38. Over
44 percent of those under 18 live in Fulton
poverty – the third-highest rate in
the State overall.2
The City’s unemployment rate was 8.9 Oneida
Syracuse
percent in November 2012, and has Legend Onondaga
been near or over 9 percent since the Counties
Madison
beginning of 2009. This is significantly Villages
higher than the statewide rate of 7.9 Towns
Cities
percent in November 2012. Onondaga Reservation
Tax Base
Syracuse did not see a rapid rise
in housing values before the latest Housing Statistics
recession, or the collapse that followed. Syracuse Median City
Syracuse’s property values have Home Ownership 38.5% 49.5%
increased at only a 2.0 percent average
annual rate from 2001 to 2011. Prices Median Home Value $83,400 $96,000
were fairly stagnant until 2006, and Vacant Units 10.9% 9.2%
have increased at a somewhat faster
Exempt from Tax 49.5% 32.0%
3.7 percent average annual rate since.
Nearly half of the City’s property is
tax exempt – 49.5 percent, compared to 32.0 percent for Percent of Constitutional Tax
the median city. This is due to the presence of Syracuse
University and other colleges, as well as hospitals and Limit Exhausted 2012
government buildings. Meanwhile, eight percent of the Buffalo 71.2%
properties are tax delinquent.3 These factors limit the ability Rochester 74.9%
of the City to fully collect property taxes, and force it to be
Syracuse 68.6%
more dependent on other revenue sources. The City receives
significant revenue from payments-in-lieu-of-taxes and user Yonkers 68.2%
fees for such things as parking and utilities, which partially
compensate for these property tax revenue limitations.
1
The City’s poverty rate is 31.1 percent, compared to 25.6 percent of families living in poverty. The poverty rate
captures college students.
2
Throughout this report, references to all cities or median city exclude New York City.
3
Office of the Mayor, 2012 State of the City Address, January 26,2012.
2 2013 FISCAL PROFILE Division of Local Government and School Accountability
3. The City has exhausted 68.6 percent of its Constitutional Tax Limit. And, since the City is
required to direct some of its property tax revenue to the school district, its flexibility under this
limit is further restricted.
Revenues and Expenditures
The City’s revenues grew at an
average annual rate of 3.7 percent Comparison of Revenue Sources, 2011
from 2001 to 2011, compared to an
average growth rate of 3.4 percent for 35%
Syracuse
all cities in the State.4 Big 4
30% All Cities
State aid grew at an average annual
25%
rate of 4.8 percent. In 2011, it
accounted for 27 percent of the City’s 20%
revenue. This is higher than the 20 15%
percent for all cities in the State, but
lower than the 31 percent for the “Big 10%
Four” cities (cities that have dependent 5%
school districts – not including New
York City, namely Buffalo, Rochester, 0%
Property Sales Charges Misc. State Federal
Syracuse and Yonkers). State aid is Tax and for Local Aid Aid
Use Tax Services Revenues
largely beyond the City’s control and
has been declining in recent years.
Between state fiscal year 2008-09 and
2012-13, Aid and Incentives for Municipalities (AIM) payments (which represent the majority of
State aid for cities) decreased by $43.7 million. Syracuse alone lost $4.3 million in AIM from state
fiscal year 2008-09 to 2012-13. Syracuse received $494 in AIM per capita in 2012-13, more than
the $147 for the median city, but lower than the $536 average for the other Big 4 cities.
The City gets 25 percent of revenue from charges for services (such as transportation and utility
fees), while Big Four cites get only 16 percent and all cities 20 percent. Property taxes make up
only 13 percent of City revenues, lower than the 26 percent for all cites and the 16 percent for
Big Four cities. Real property taxes grew at a 3.1 percent average annual rate between 2001
and 2011.
The 22 percent share from sales tax was higher than the 19 percent for all cities and 21 percent
for Big Four cities. The City negotiated a new 10-year sales tax sharing agreement with the
county in 2010, which reduced the City’s share in 2011 by about $10 million, but will restore
much of this revenue in subsequent years, eventually giving the City about 24 percent of the
County’s sales tax collections.
The Syracuse City School District is a dependent school district. School district revenues grew
at an average annual rate of 4.3 percent from 2001 to 2011. Aid from the State and federal
governments grew more rapidly over this period (average annual rates of 4.2 percent and 6.3
percent, respectively) than property taxes (3.6 percent average annual rate).
4
Preliminary 2012 financial data is available for Syracuse. However, for comparative purposes this report will use
data from 2001 to 2011.
Thomas P. DiNapoli • New York State Comptroller 2013 FISCAL PROFILE 3
4. Expenditures for the City of Syracuse
increased at an average annual rate Comparison of Expenditures, 2011
of 4.0 percent from 2001 to 2011,
compared to a growth rate of 3.4 30%
percent for all cities in the state. Syracuse
Big 4
25% All Cities
Like most other cities, Syracuse
20%
spends a large amount on public
safety (police and fire protection), 27 15%
percent of expenditures, compared
to 29 percent in Big Four cities and 10%
26 percent in all cities. Employee 5%
benefits (health insurance, pension
contributions, etc.) make up 23 0%
Public General Employee Trans- Debt Other
percent of expenditures, very close Safety Government Benefits portation Service Expenditures*
to the 24 percent in Big Four cities, * Other Expenditures include: Community services, Culture and recreation, Economic
and 22 percent in all cities. Employee development, Sanitation, Social services, and Utilities.
benefits also have been growing more
rapidly than expenditures for other services, at a 10.3 percent average annual rate from 2001 to
2011. Syracuse spent significantly more on transportation in 2011, 16 percent of expenditures,
while Big Four cities spent 8 percent and all cities spent 9 percent. This is in part because the
City operated an airport, which has since been spun off into a separate public authority.
Current and Projected Budget Situation
The City’s General Fund had a balance of $39.5 million in 2011, or about 18.6 percent of total
revenues. This balance had declined by 37 percent from $63.0 million in 2008.
The City’s budget for FY 2012-13 grew by 3.7 percent and was balanced without the use of
any of the prior year fund balance. The City did receive $20.9 million as a one-time “spin-
up” of State aid.5 Current City revenue and expenditure projections show that, with moderate
budget assumptions, Syracuse would deplete all of its available fund balance in the next few
fiscal years. The City has taken measures to address its fiscal situation by recently negotiating
contracts with several of its employee unions that provide no salary increases.
The Syracuse City School District’s budget for fiscal year 2012-13 increased by 9.5 percent over
the prior school year budget. The school district used $10 million in budget surplus in fiscal year
2011-12, and was able to replace this and cover the rest of the increase in expenditures with a
$44.9 million increase in State aid.
5
A spin-up is an accelerated payment of State aid that was scheduled to be paid in a later year.
4 2013 FISCAL PROFILE Division of Local Government and School Accountability
5. Bond Ratings and Debt
Moody’s has given the City a municipal bond rate of A1 – indicating upper-medium grade and
low credit risk. Analysts find that the City has a “satisfactory financial position,” based on a
stable tax base due, in part, to the presence of higher education and health care organizations
but that this is expected to come under some pressure due to the City’s planned use of reserves
and high reliance on intergovernmental funding and “economically-sensitive” sales tax revenues.
Moody’s also found that the City’s debt burden is high, and likely to stay that way. The City
regularly borrows for short-term cash flow purposes.
Standard & Poor’s has given Syracuse an A- rating, Percent of Constitutional Debt
indicating a strong capacity to meet financial commitments, Limit Exhausted 2011
but somewhat susceptible to adverse economic conditions
Buffalo 57.3%
and changes in circumstances. They noted the high
unemployment rate, low income levels, and stagnant Rochester 60.8%
property tax base. They also credited the City with a strong Syracuse 52.9%
financial position, though general fund reserves have
declined, and a moderate overall debt burden. Yonkers 18.4%
The City had outstanding debt of $292 million at the end of 2011, and had exhausted 52.9
percent of its Constitutional Debt Limit. This is significantly higher than the median for all cities
of 22 percent of debt limit exhausted, but only third highest of the Big Four cities. On the other
hand, debt service was 7.2 percent of revenues in 2011, lower than the 8.2 percent average for
all cities in the State, and lower than the 7.5 average of the Big Four cities.
The City and school district have also established a Joint School Construction Board to
undertake certain school building projects. Thus far $140 million has been borrowed for school
construction and renovation. This debt is not subject to the City’s Constitutional Debt Limit, since
it is issued through the City of Syracuse Industrial Development Agency.
Thomas P. DiNapoli • New York State Comptroller 2013 FISCAL PROFILE 5
6. Syracuse vs. All Cities and New York State
City of All Cities (excluding NYC) New York
Population 2010: 145,170 Syracuse State
Median Aggregate
Demographic Indicators
Percent Change in Population 1950-2010 -34% -20% -25% 31%
Median Household Income, 2010 $30,891 $37,607 N/A $55,603
Percentage of Families in Poverty 2010 25.6% 13.7% 16.6% 10.8%
Unemployment Rate November 2012 8.9% N/A N/A 7.9%
Property Value Indicators
Median Home Value 2010 $83,400 $96,000 N/A $303,900
Percent Change in Full Value 2007-2012 15.8% 11.6% -1.3% 5.4%
Owner-Occupied Housing Units 2010 38.5% 49.5% 45.4% 53.3%
Property Vacancy Rate 2010 10.9% 9.2% 10.4% 9.7%
Percentage of Property Value That is
49.5% 32.0% 34.9% 25.6%
Tax Exempt 2010
Revenue and Tax Indicators
State Revenue Sharing Aid (AIM) per
$494.31 $146.80 $289.50 N/A
Capita SFY 2012-13
Tax Limit Exhausted 2012 69% 44% N/A N/A
GF Unreserved Fund Balance as a %
23.4% 13.1% 15.7% N/A
of Revenue 2007
GF Unreserved Fund Balance as a %
18.6% 10.1% 13.2% N/A
of Revenue 2011
Source: U.S. Census Bureau, American Community Survey, 5-year estimates, 2006-2010 and 2010 Census; Department of
Taxation and Finance; New York State Labor Department; Office of the State Comptroller.
6 2013 FISCAL PROFILE Division of Local Government and School Accountability
7. Thomas P. DiNapoli • New York State Comptroller
Division of Local Government and School Accountability
Central Office Directory
Andrew A. SanFilippo, Executive Deputy Comptroller
(Area code for the following is 518 unless otherwise specified)
Executive ...................................................................................................................................................................474-4037
Steven J. Hancox, Deputy Comptroller
Nathaalie N. Carey, Assistant Comptroller
Audits, Local Government Services and Professional Standards..................................................474-5404
(Audits, Technical Assistance, Accounting and Audit Standards)
Local Government and School Accountability Help Line................................(855)478-5472 or 408-4934
(Electronic Filing, Financial Reporting, Justice Courts, Training)
New York State Retirement System
Retirement Information Services
Inquiries on Employee Benefits and Programs..................................................................474-7736
Bureau of Member Services.................................................................................................................474-1101
Monthly Reporting Inquiries.................................................................................................... 474-1080
Audits and Plan Changes........................................................................................................... 474-0167
All Other Employer Inquiries.....................................................................................................474-6535
Division of Legal Services
Municipal Law Section .........................................................................................................................474-5586
Other OSC Offices
Bureau of State Expenditures ...........................................................................................................486-3017
Bureau of State Contracts................................................................................................................... 474-4622
Office of the State Comptroller,
Mailing Address
110 State St., Albany, New York 12236
for all of the above:
email: localgov@osc.state.ny.us
Thomas P. DiNapoli • New York State Comptroller 2013 FISCAL PROFILE 7
8. Division of Local Government and School Accountability
Regional Office Directory
Andrew A. SanFilippo, Executive Deputy Comptroller
Steven J. Hancox, Deputy Comptroller (518) 474-4037
Nathaalie N. Carey, Assistant Comptroller
Cole H. Hickland, Director • Jack Dougherty, Director
Direct Services (518) 474-5480
BINGHAMTON REGIONAL OFFICE - H. Todd Eames, Chief Examiner
State Office Building, Suite 1702 • 44 Hawley Street • Binghamton, New York 13901-4417
Tel (607) 721-8306 • Fax (607) 721-8313 • Email: Muni-Binghamton@osc.state.ny.us
Serving: Broome, Chenango, Cortland, Delaware, Otsego, Schoharie, Sullivan, Tioga, Tompkins counties
BUFFALO REGIONAL OFFICE – Robert Meller, Chief Examiner
295 Main Street, Suite 1032 • Buffalo, New York 14203-2510
Tel (716) 847-3647 • Fax (716) 847-3643 • Email: Muni-Buffalo@osc.state.ny.us
Serving: Allegany, Cattaraugus, Chautauqua, Erie, Genesee, Niagara, Orleans, Wyoming counties
GLENS FALLS REGIONAL OFFICE - Jeffrey P. Leonard, Chief Examiner
One Broad Street Plaza • Glens Falls, New York 12801-4396
Tel (518) 793-0057 • Fax (518) 793-5797 • Email: Muni-GlensFalls@osc.state.ny.us
Serving: Albany, Clinton, Essex, Franklin, Fulton, Hamilton, Montgomery, Rensselaer, Saratoga, Schenectady, Warren, Washington counties
HAUPPAUGE REGIONAL OFFICE – Ira McCracken, Chief Examiner
NYS Office Building, Room 3A10 • Veterans Memorial Highway • Hauppauge, New York 11788-5533
Tel (631) 952-6534 • Fax (631) 952-6530 • Email: Muni-Hauppauge@osc.state.ny.us
Serving: Nassau, Suffolk counties
NEWBURGH REGIONAL OFFICE – Tenneh Blamah, Chief Examiner
33 Airport Center Drive, Suite 103 • New Windsor, New York 12553-4725
Tel (845) 567-0858 • Fax (845) 567-0080 • Email: Muni-Newburgh@osc.state.ny.us
Serving: Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Ulster, Westchester counties
ROCHESTER REGIONAL OFFICE – Edward V. Grant Jr., Chief Examiner
The Powers Building • 16 West Main Street – Suite 522 • Rochester, New York 14614-1608
Tel (585) 454-2460 • Fax (585) 454-3545 • Email: Muni-Rochester@osc.state.ny.us
Serving: Cayuga, Chemung, Livingston, Monroe, Ontario, Schuyler, Seneca, Steuben, Wayne, Yates counties
SYRACUSE REGIONAL OFFICE – Rebecca Wilcox, Chief Examiner
State Office Building, Room 409 • 333 E. Washington Street • Syracuse, New York 13202-1428
Tel (315) 428-4192 • Fax (315) 426-2119 • Email: Muni-Syracuse@osc.state.ny.us
Serving: Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, St. Lawrence counties
STATEWIDE AUDIT - Ann C. Singer, Chief Examiner
State Office Building, Suite 1702 • 44 Hawley Street • Binghamton, New York 13901-4417
Tel (607) 721-8306 • Fax (607) 721-8313
8 2013 FISCAL PROFILE Division of Local Government and School Accountability
9. New York State
Office of the State Comptroller
Division of Local Government and School Accountability
110 State Street, 12th Floor • Albany, New York 12236
February 2013