New York has a 2024 Fiscal Year Budget! It comes to $229 billion, a $7 billion increase over last year. After scouring numerous articles to learn more, the main things I walked away with are that there will be a minimum wage increase; no new personal income taxes; no gas

As the six-month anniversary of the passing of New York’s Environmental Bond Act approaches, two questions come to mind: “How much progress has been made?” and “What’s next?” In November of 2022, the $4.2 billion Environmental Bond Act was overwhelmingly approved by New York voters to promote water quality, reduce

Early this year, Governor Hochul introduced the New York Housing Compact, a strategy to build 800,000 new homes in the next decade to address the state’s affordable housing shortage. While it will take some time to see where everything lands, a big question remains: Will the Housing Compact address the

After working with multiple New York-based municipalities year after year to close their books and prepare for what’s next, RBT CPA experts have identified seven key questions you should answer to help ensure a smooth process. Does your interfund activity agree? Interfund activity is the financial interaction between a government’s

Along with the new year comes the start date of a new accounting and reporting requirement – namely, GASB 96, which arose as a result of migration from legacy IT systems (requiring the purchase of a license or title) to cloud-based solutions (requiring subscriptions). If your fiscal year started July

It’s hard to believe we’re just a about three months shy of the second anniversary of the American Rescue Plan Act, otherwise known as ARPA. In two more years, or on December 31, 2024, State and Local Fiscal Recovery Funds or SLFRF – a part of ARPA – must be

Marijuana Struggling to Sow Roots In New York Amid Hazy Conditions On March 31, 2021, the Marijuana Regulation and Taxation Act (MRTA) legalized adult-use cannabis in New York. What has happened since then? By year-end 2021, 90% of New York municipalities agreed to issue dispensary licenses and/or onsite consumption licenses.

As you start your 2023 planning, make sure Governmental Accounting Standards Board (GASB) changes taking effect next year are on your radar. Following are some highlights… GASB Statement No. 96 (Subscription Based IT Arrangement or SBITA). A SBITA is a contract that gives one the right to use another party’s