Thought Leadership Articles

How municipalities can issue debt to raise cash under current New York law, and why it could make sense for you.

September 28, 2020

COVID-19 has left many New York municipalities short on cash as they grapple with a triple threat: falling sales tax revenues, holds on state aid, and unexpected expenses due to the pandemic. Short-term borrowing strategies can provide local governments with the funds to stay afloat until property tax payments or

Domestic Manufacturing: The Next Big Boom?

September 28, 2020

While the national scramble and subsequent shortage of PPE materials amid the COVID-19 pandemic revealed a critical flaw in our current system, it also serves as a transformative moment for restructuring manufacturing business models. For the past three decades, global macroeconomic trends coupled with U.S. based manufacturing disadvantages contributed to

All NY Employers Must Give Sick Leave To Workers: Here’s what to Know

September 17, 2020

Why is it so important to learn about The New York Paid Sick Leave (NYSPSL) law that was passed back in April, right now? Because in just two short weeks, accruals of NYSPSL must begin, so that means employers need to be ready. For the first time in New York

Municipalities borrowing from municipalities in New York State: Is it right for you?

September 9, 2020

As New York local governments cast about for strategies to manage funds and generate revenue to weather the economic hardships of the COVID-19 pandemic, some could benefit from a little-known provision of New York law that allows municipalities to borrow from one another. Because municipalities in different parts of the

Covid-19 Business Impact on Retirement Plans

COVID-19 Impact on Retirement Plans

August 31, 2020

Businesses that have survived the initial economic shockwave caused by the COVID-19 pandemic have a lot to be proud of. However, with the unpredictability of the fall season looming, it’s important to understand how the decisions you make today will impact your business tomorrow. We previously communicated to our clients

Why Ongoing Independent Budget Reviews Offer Big Benefits for Municipal and County Governments in New York

August 26, 2020

As towns, villages, cities, and counties in New York deal with the economic fallout of COVID-19 in their own finances and on those of their taxpayers, it is a good time to consider an independent budget review to ensure that elected officials are doing all they can do to manage

How Improvement Districts Help Drive Needed Revenue for Municipal and County Governments in New York

August 26, 2020

Municipal governments in New York looking for ways to generate revenue can consider improvement districts, such as business improvement districts, to fund needed services in high-demand areas without imposing an undue burden on other taxpayers. New York State enacted legislation allowing for the creation of business improvement districts (“BIDs”) in

Municipalities Can Build Financial Resilience in the COVID-19 Era and Beyond

August 26, 2020

The COVID-19 pandemic and the accompanying shutdown have brought financial challenges to municipal governments throughout New York State. Sales tax revenues declined steeply across the state in April and May compared to 2019, and state aid will be cut or delayed. Unemployment rates may affect residents’ ability to pay property