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New York State Financial Control Board
The New York State Financial Control Board was created in 1975 following a financial crisis and state bailout to oversee municipal spending. The board included both government officials and citizen representatives. The board was created pursuant to the New York State Financial Emergency Act of The City of New York, and was initially known as the Emergency Financial Control Board (EFCB). Three years later the word "Emergency" was removed from the group's name and its charter was extended for thirty years. While direct management of the city's budget ended in 1986, the board continues to monitor the city's financial health. The mayor of New York City and the governor of New York State both serve on the seven-member board. See also * New York State Authorities Budget Office * New York State Comptroller * New York State Public Authorities Control Board The New York State Public Authorities Control Board is composed of five members, appointed by the Governor, some upon the recommenda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bailout
A bailout is the provision of financial help to a corporation or country which otherwise would be on the brink of bankruptcy. A bailout differs from the term ''bail-in'' (coined in 2010) under which the bondholders or depositors of global systemically important financial institutions (G-SIFIs) are forced to participate in the recapitalization process, but taxpayers are not. Some governments also have the power to participate in the insolvency process: for instance, the U.S. government intervened in the General Motors bailout of 2009–2013. A bailout can, but does not necessarily, avoid an insolvency process. The term ''bailout'' is maritime in origin and describes the act of removing water from a sinking vessel using a bucket. Overview A bailout could be done for profit motives, such as when a new investor resurrects a floundering company by buying its shares at firesale prices, or for social objectives, such as when, hypothetically speaking, a wealthy philanthropist reinven ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Control (municipal Government)
In municipal government, a Board of Control is an executive body that usually deals with financial and administrative matters. The idea is that a small body of four or five people is better able to make certain decisions than a large, unwieldy city council. Boards of Control were introduced in many North American municipalities in the early 20th century as a product of the municipal reform movement. They proved unpopular with many as they tended to centralize power in a small body while disempowering city councils. Boards of Control typically consist of the mayor and several Controllers who are elected on a citywide basis as opposed to aldermen who were elected on a ward basis. The Boards were criticized as undemocratic. Boards of Control tended to be less representative of the diverse opinions and communities, with majority views among the population being overrepresented. As well, since they were elected by a larger electorate running for a seat on the Board of Control would be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the List of United States cities by population density, most densely populated major city in the United States, and is more than twice as populous as second-place Los Angeles. New York City lies at the southern tip of New York (state), New York State, and constitutes the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the world by urban area, urban landmass. With over 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York is one of the world's most populous Megacity, megacities, and over 58 million people live within of the city. New York City is a global city, global Culture of New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor Of New York
The governor of New York is the head of government of the U.S. state of New York. The governor is the head of the executive branch of New York's state government and the commander-in-chief of the state's military forces. The governor has a duty to enforce state laws and the power to either approve or veto bills passed by the New York Legislature, to convene the legislature and grant pardons, except in cases of impeachment and treason. The governor is the highest paid governor in the country. Powers and duties The governor has a duty to enforce state laws, and the power to either approve or veto bills passed by the New York State Legislature, to convene the legislature, and to grant pardons, except in cases of treason and impeachment. Unlike the other government departments that compose the executive branch of government, the governor is the head of the state Executive Department. The officeholder is afforded the courtesy style of ''His/Her Excellency'' while in of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Authorities Budget Office
The New York State Authorities Budget Office (ABO) is an independent office in the state of New York established by the Public Authorities Accountability Act of 2005 and signed into law by Governor Pataki in 2006. In 2009, the ABO was restructured as part of the Public Authorities Reform Act. The ABO's mission is to make New York State public-benefit corporations more accountable and transparent. The ABO receives assistance from the New York State Department of State. Its powers and duties include: * Collecting, analyzing and disseminating organizational, operational, performance and financial information on public authorities for the purpose of making this information available to the public. * Making recommendations to the Governor and the Legislature on debt, compensation, procurement practices, property transactions, structure and mission, and other issues related to improving the performance and transparency of public authorities. Annual report It publishes an annual report, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Comptroller
The New York State Comptroller is an elected constitutional officer of the U.S. state of New York (state), New York and head of the government of New York (state), New York state government's Department of Audit and Control. The New York State Comptroller is the highest-paid state auditor or state treasurer, treasurer in the country. Sixty-one individuals have held the office of State Comptroller since statehood. The incumbent is Thomas DiNapoli, a Democratic Party (United States), Democrat. Powers and duties The State Comptroller is in effect New York's chief fiscal officer. Article V, Section 1, of the New York Constitution requires the State Comptroller "to audit all vouchers before payment and all official accounts", "to audit the accrual and collection of all revenues and receipts", and "to prescribe such methods of accounting as are necessary for the performance of the foregoing duties". Furthermore, the State Constitution vests the safekeeping and protection of all state f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Public Authorities Control Board
The New York State Public Authorities Control Board is composed of five members, appointed by the Governor, some upon the recommendation of members of the Legislature. The five members of PACB are appointed by the Governor to serve one-year terms, with one member representing the Governor and acting as the chairperson. The Governor appoints the four remaining members based upon the recommendations of the Majority and Minority leaders of the Legislature. The members appointed by the governor upon the recommendation of the Minority Leader of the Senate and the Minority Leader of the Assembly are non-voting members. New York's public services are heavily organized into public-benefit nonprofit corporations, known frequently as ''authorities'' or ''development corporations''. New York State-chartered public benefit corporations exist all over the state, but the most famous examples are probably in New York City (the Metropolitan Transportation Authority of New York, Metropolitan Transpor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Agencies Of New York (state)
State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of State * ''The State'' (newspaper), a daily newspaper in Columbia, South Carolina, United States * '' Our State'', a monthly magazine published in North Carolina and formerly called ''The State'' * The State (Larry Niven), a fictional future government in three novels by Larry Niven Music Groups and labels * States Records, an American record label * The State (band), Australian band previously known as the Cutters Albums * ''State'' (album), a 2013 album by Todd Rundgren * ''States'' (album), a 2013 album by the Paper Kites * ''States'', a 1991 album by Klinik * ''The State'' (album), a 1999 album by Nickelback Television * ''The State'' (American TV series), 1993 * ''The State'' (British TV series), 2017 Other * The State (comedy troupe), an American comedy troupe Law and politics * State (polity), a centralized political organizatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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