Reports

We recommend that the City Council accept the City Auditor’s preliminary review of documentation for COVID-19 related costs to support receipt of emergency public assistance through the federal Coronavirus Relief Fund (CRF).

We conducted surveys of GPO’s COVID-19 response and maximum telework status. The report contains our analysis and considerations for GPO Leadership and also contains the raw survey results as an attachment.

A Dallas-area man was charged in an indictment filed Thursday for his alleged participation in a scheme to file fraudulent loan applications seeking approximately $24.8 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

A Florida recording artist and a Pennsylvania towing company owner have been charged for their alleged participation in a scheme to file fraudulent loan applications seeking more than $24 million in forgivable Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Seattle - A respiratory therapist at the Veterans Affairs Medical Center in Seattle pleaded guilty today in U.S. District Court in Seattle to theft of government property, announced U.S. Attorney Brian T. Moran.

The COVID-19 pandemic has created a fiscal emergency for the City of New York, creating significant revenue shortfalls and increased costs associated with managing the public health crisis. Federal relief funding has been inadequate in helping resolve the budget gaps emerging from the fiscal emergency. In response, the City has requested since May that its Transitional Finance Authority (TFA) be provided with authorization by the State Legislature to borrow up to $5 billion to maintain spending and make up for lost revenues not reimbursed by the federal or State government, a practice referred...

The COVID-19 pandemic has significantly impacted the securities industry in New York City, affecting both operations and profitability. After a period of market turmoil in March, monetary stimulus and fiscal relief actions have injected massive liquidity into the economy and buoyed industry profitability. Much of the industry’s work force began working remotely in March. The industry has remained relatively stronger than other sectors, which have experienced a more severe downturn (i.e., hotels, bars, restaurants and retail).

The Metropolitan Transportation Authority (MTA) is facing the greatest challenge in its history. On March 1, 2020, New York City reported its first confirmed case of COVID-19, a highly contagious respiratory disease. In the weeks that followed, the caseload grew rapidly in New York City and the downstate region, and the novel coronavirus then spread across the nation. The MTA forecasts budget deficits of $3.4 billion in 2020, $6.3 billion in 2021, $3.8 billion in 2022, $2.8 billion in 2023 and $3.1 billion in 2024. The July Plan’s projected budget gaps are historic in nature. The gap in 2021...