DEC AND NEW YORK SEA GRANT ANNOUNCE MORE THAN $66,000 IN FUNDING FOR RECREATIONAL FISHING PROJECTS IN THE NEW YORK MARINE DISTRICT

 

Department of Environmental Conservation

Projects Create Accessible Educational Materials, Increased Fishing Access, and Connect New Yorkers to Recreational Marine Opportunities

The New York State Department of Environmental Conservation (DEC), in partnership with New York Sea Grant (NYSG), announced more than $66,000 in funding to support projects advancing the mission of the Marine and Coastal District of New York (MCD) Conservation, Education, and Research Board. The five projects help increase participation in marine recreational fishing and promote research, public awareness, and appreciation of the State’s marine and estuarine resources, and encourage conservation of marine fisheries. 

“Education and awareness are vital to the protection of New York’s marine and coastal environment and the Marine and Coastal District program helps our marine resources by supporting not-for-profit organizations in their efforts to promote environmental stewardship,” said DEC Division of Marine Resources Director Martin Gary. “DEC’s continued successful partnership with NYSG engages younger generations, as well as our fishing community, and provides New Yorkers with more opportunities to enjoy the uniqueness of our coastline.” 

The MCD’s Environmental Custom License Plate initiative funds this small grant program, with $25 of each annual vanity plate fee supporting the MCD Conservation, Education, and Research Fund. Information on how to order a custom MCD vanity plate is available on the New York State Department of Motor Vehicles website. The program was established to promote marine sport fishing, increase participation in marine recreational angling, increase public awareness and appreciation of marine and estuarine natural resources, encourage conservation of marine fisheries resources, promote research, and increase knowledge of the state's marine and estuarine natural resources. 

New York Sea Grant Associate Director Kathy Bunting-Howarth said, “NYSG is pleased to partner with the MCD Board and DEC to implement the vision of the license plate funds to support projects that promote our marine resources, through education, creative endeavors, and getting kids outdoors through immersive field-based activities, such as seining and angling.” 

MCD Research Board Chair Melissa Dearborn said, “When the Marine and Coastal District Small Grants Program was established, our goal was to expand recreational fishing opportunities and promote stewardship of the New York Marine District’s remarkable natural resources through education, research, and improved access. The MCD Board is pleased to support five exciting projects that advance this mission by engaging new participants and underserved communities in recreational fishing and marine education, while creating valuable learning opportunities for those already dedicated to protecting our coastal resources.” 

Project proposals were reviewed by a technical panel of marine fishery experts. The five projects selected will be implemented from November 1, 2026, to November 30, 2027. 

Small Grant recipients include:  

Brentwood Union Free School District: Hooked on Science: Connecting Marine Research, Angling, and Student Storytelling—$15,000 

Students in Brentwood Union Free School District will benefit from a new program exploring the waters of Long Island Sound through the lens of striped bass best fishing practices. Modeled after the student-driven platform Let’s Science That (a previous MCD Small Grants-supported project), students will produce real-time video documenting data collection, sustainable fishing methods, and environmental observations on board the Molly Gale. This work will culminate in student-led podcasts through Let’s Science That, translating complex scientific topics for approximately 18,000 students—including a key outreach component to highlight the New York Marine and Coastal District license plate. All participants will register with the DEC Recreational Marine Fishing Registry. 

Sarah Lawrence College, Center for the Urban River at Beczak: Yonkers Youth Seine Fishing Programs—$10,000 

The Center for the Urban River and Beczak at Sarah Lawrence College will support 300 Yonkers Public School students on 10 field trips to learn seine fishing along the Hudson River. The seine fishing class “Catch of the Day” introduces students who otherwise would not be able to afford the program to the biological variety of the river through hands-on work and activities, including identifying, tallying, and measuring fish. For many students, this will be their first time exploring and interacting with nature. The project also plans to support up to 20 teachers and more students through the Day in the Life of the Hudson and Harbor Training program (in partnership with DEC’s Hudson River Estuary Program), and host two free public seining events for World Fish Migration Day and the annual Summer Kick-Off Festival with the Yonkers Paddling and Rowing Club. 

Cornell Cooperative Extension of Suffolk County Marine Program: CCE Brings Sport Fishing and Marine Programs to Underserved Students in Western Suffolk—$15,000 

In partnership with the Town of Babylon, Cornell Cooperative Extension (CCE) of Suffolk County Marine Program will offer free marine education programs at Sport Fishing Education Center on Babylon’s Cedar Beach Marina to underserved Western Suffolk school districts. Students will be guided by marine educators through hands-on educational experiences, including field investigations on the beach and in the salt marsh, and exploring live, local species on display at the center that are designed to encourage greater understanding of the Great South Bay, best fishing and recreational practices, and marine conservation. The goal is to encourage students to become actively involved in environmental preservation while engaging in fun activities.

Lower East Side Ecology Center: East River Park Fishing Clinics: Connecting Lower East Side to Marine Resources—$15,000 

The Lower East Side Ecology Center will hold eight free fishing clinics for 500 youth and families at East River Park. The goal is to introduce members of underserved Lower East Side communities to recreational fishing and marine ecology through instruction and interactive activities. Each clinic will provide hands-on instruction in casting, baiting, fish identification, and catch-and-release practices through experienced educators, with programming prioritizing New York City Housing Authority (NYCHA) residents and low-income households who lack access to fishing equipment and waterfront recreation opportunities. The program will also lead regular community cleanup efforts at East River Park, engaging the community in preventing trash from entering waterways. 

New York Coalition for Recreational Fishing: NYCRF Striped Bass Catch and Release Best Practices Video—$11,500 

The New York Coalition for Recreational Fishing (NYCRF) will develop a video demonstrating best practices for catching and releasing striped bass. Striped bass, easily the most coveted sport fish on the East Coast, has had poor recruitment over the past seven years in their primary spawning spot (Chesapeake Bay) and poor recruitment in the Hudson River over the past three years, as well as a 9% chance of dying after being released, according to data collected by the Atlantic States Marine Fisheries Commission. NYCRF’s project intends to create a best practices video highlighting the adoption of “responsible harvesting” and educating anglers on how to reduce striped bass mortality. This project will also produce multilingual handouts and signs sharing best practices, which can be displayed in tackle shops and at popular fishing locations. 

About New York Sea Grant   New York Sea Grant (NYSG) is a university-based, statewide Federal-State collaborative program of the State University of New York, Cornell University, and the National Oceanic and Atmospheric Administration. Since 1971, NYSG has connected research, extension, and education with the needs of New York’s coastal communities, environments, and economies, supporting science-based solutions for a wide range of water-related challenges and opportunities across the state. The program is administratively based at Stony Brook University and Cornell's College of Agriculture and Life Sciences. Visit nyseagrant.org for updates on Sea Grant activities. 

Additional information may be obtained by visiting New York Sea Grant’s website.  

LONG ISLAND MAN CHARGED WITH SCHEME TO DEFRAUD FOR REAL ESTATE SCAM THAT TARGETED RENTERS

 

Queens District Attorney Melinda Katz announced that Rajat Verma was indicted for scheme to defraud, grand larceny, identity theft and other crimes for a rental fraud scheme involving seven Queens properties and one in Brooklyn. Verma allegedly rented apartments by providing forged checks to landlords and, in turn, rented out the same properties to numerous unsuspecting tenants duping them out of $61,625 in security deposits and other rental payments.

District Attorney Katz said: “As alleged, this defendant took advantage of those seeking housing by purporting to be a real estate agent and renting out properties that did not belong to him. The unsuspecting tenants gave him payments and signed phony leases that left them without their money and housing. Anyone who suspects that they may have been taken advantage of by this defendant is urged to contact our Consumer Fraud Helpline at 718-286-6673.”

Verma, 35, of Franklin Square, was arraigned on a 40-count indictment charging him with scheme to defraud in the first and second degrees, seven counts of criminal possession of a forged instrument in the second degree, 13 counts of criminal possession of stolen property in the third degree, 12 counts of grand larceny in the third degree, two counts of identity theft in the first degree, two counts of grand larceny in the fourth degree and two counts of criminal possession of stolen property in the fourth degree.

Queens Supreme Court Justice Leigh Cheng ordered him to return to court November 23. If convicted, he faces up to seven years in prison.

District Attorney Katz said that, according to the charges and investigation, from September 23, 2022, to November 24, 2023, Verma posed as a tenant seeking apartments from small landlords in Glen Oaks, Rego Park, College Point, Ozone Park, Hollis, Maspeth and Brooklyn

Verma allegedly gave the landlords forged checks and then received keys to the properties. During the next several days, as the landlords waited for the checks to clear, Verma advertised the properties for rent online. He allegedly used different aliases, phone numbers and email addresses.

Prospective tenants who wanted the apartments provided Verma with payments that often amounted to thousands of dollars. Some received keys to their new homes only to find out the keys did not work. In one instance, a tenant arrived at an apartment to find another family, also allegedly duped by Verma, living there.

Verma — who used the aliases Rajvinder Kaur, Rajib “Raj” Sharma, Sammy Miah, Berihai “Barry” Padmanabhan, Barry Padmanabhan, Barry Padman, Bobby Gupta, Dave Mair, Ahmed Abbas, Samir, and Abbas Mithun – allegedly defrauded at least 15 people during the year-long scam.

The investigation was conducted by Assistant District Attorney Kathryn Ingle of the District Attorney’s Housing, Worker and Consumer Protection Bureau and Detective Kevin Stewart of the NYPD Organized Theft Squad, with the assistance of Paralegal Specialist Ericka Loperena-Hunter.

California Man Pleads Guilty to Attempting to Provide Material Support to the Islamic State of Iraq and al-Sham

 

Ammaad Akhtar, 34, of California, pleaded guilty to attempting to provide material support to a designated foreign terrorist organization.

According to court documents, between February 2025 and June 2025, Akhtar, a citizen of the United States, attempted to provide funds, weapons, and other equipment to the Islamic State of Iraq and al-Sham (ISIS). He communicated online with an online undercover officer, whom he believed was a member of ISIS. In these conversations, Akhtar voiced his support for ISIS and jihad, expressed a desire to travel overseas to join and fight with ISIS, and stated a desire to send guns and money to ISIS.

In April 2025, during this investigation, Akhtar demonstrated a desire to provide support of ISIS and did so by providing financial funding on multiple occasions. After a few payments, the online undercover officer indicated that ISIS had procured several guns with the money Akhtar had sent. In his response, Akhtar said, “May Allah destroy our enemies” and affirmed that he will send more money that same day.

Akhtar also talked about planning acts of violence, including conducting an attack against a specific individual and an attack utilizing homemade explosives. He said that he “want[s] to die in the cause of Allah fighting the kuffar [infidels]” and asked for instructions on how to make a homemade explosive device in order “to make a boom” at a populated event.

Then, on June 23, 2025, Akhtar met with an individual he believed was an ISIS associate, but who was actually an undercover agent. Akhtar provided clothing, binoculars, $400 cash, two loaded guns, and six additional magazines. Akhtar then swore bayat (a pledge of loyalty) to ISIS.

Akhtar is scheduled to be sentenced on Feb. 26, 2027. He faces a maximum penalty of 20 years in prison and a $250,000 fine. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The FBI Field Offices in New York and Sacramento and the New York City Police Department conducted the investigation. 

Two Men Sentenced for Acting as Agents of the People’s Republic of China

 

Defendants Facilitated Secret Cash Payments and Targeted U.S. Military Personnel on Behalf of the PRC’s Ministry of State Security

Two nationals of the People’s Republic of China (PRC) were sentenced for conspiring to act as agents of the PRC government and acting as agents of a foreign government without prior notification to the Attorney General. Liren “Ryan” Lai, 40, and Yuance Chen, 39, were each sentenced to 30 months in prison and three years of supervised release. The defendants agreed to operate under the direction and control of the PRC’s Ministry of State Security (MSS), carrying out clandestine intelligence activities in the United States that included facilitating secret “dead drop” cash payments in exchange for information related to the national security of the United States, gathering information about U.S. military personnel and installations, and assisting efforts to recruit potential intelligence assets from within the U.S. military.

“Liren Lai and Yuance Chen operated in a long-running scheme to undermine U.S. national security by supporting Chinese intelligence operations and recruiting in the United States,” said Assistant Attorney General for National Security John A. Eisenberg. “Lai’s and Chen’s activities, undertaken at the direction of the PRC, were extensive and brazen. The National Security Division is committed to holding accountable anyone who aids or abets such espionage efforts.”

“These defendants were directed by a foreign intelligence service to gather information about the U.S. military in the hopes of undermining our national security,” said U.S. Attorney Craig H. Missakian for the Northern District of California. “This office and our federal law enforcement partners stand watch day and night to prevent our adversaries from doing just that, and we will continue to do so. There are many nations around the world that wish this country ill.  And these sentences should demonstrate our commitment to holding accountable anyone who poses a similar threat to our nation.”

“By their own admission, Chen and Lai operated as illegal agents for the Chinese government on U.S. soil, carrying out clandestine intelligence work that included making covert payments, collecting sensitive military information, and attempting to recruit American service members,” said Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence and Espionage Division. “The Chinese government’s efforts to infiltrate our armed forces demonstrate just how far it will go to threaten U.S. national security, but it has underestimated the FBI’s commitment to thwarting its illegal activity and holding its agents accountable. Let this sentencing serve as a clear warning: If you attempt to jeopardize the safety and security of our service members, our citizens, or our nation, justice will find you.”

According to court documents, Lai and Chen began acting as agents of the MSS no later than May 2021. The MSS is the PRC’s principal civilian intelligence service, responsible for conducting foreign intelligence and counterintelligence operations. Lai recruited Chen into the scheme and initially served as an intermediary between Chen and MSS intelligence officers. Chen subsequently received assignments directly from MSS officers.

As detailed in the government’s sentencing memorandum, Lai and Chen facilitated a clandestine cash payment of approximately $10,000 in January 2022. While the defendants were in the PRC, they coordinated with individuals in the United States to leave a backpack containing the cash in a locker at a recreational facility in Livermore, Calif. Such arrangements, known as “dead drops,” allow intelligence operatives to transfer money or information without directly meeting the intended recipient.

The defendants’ illegal activities extended beyond facilitating covert payments on behalf of the MSS. Beginning in 2022, Chen gathered information about U.S. military installations and personnel at the direction of Lai and MSS intelligence officers. These activities included obtaining photographs of Navy Base Kitsap in Bremerton, Wash., and photographs and videos of military recruits and active-duty sailors inside a Navy recruiting station in Southern California. Chen also collected personal identifying information about a U.S. Navy employee and maintained detailed biographical information about military personnel who were potential intelligence targets.

In March 2023, Lai traveled to the U.S. and delivered a cell phone to Chen for covert communications with the MSS referred to by Chen as a “state secret.”  Chen later traveled to China in 2024 and 2025, where he met with MSS officers and received additional assignments concerning U.S. service members.

In April 2025, Lai again traveled from China to the U.S. to carry out assignments for the MSS. The following month, the MSS directed him to travel to Phoenix to facilitate another clandestine cash payment of approximately $20,000 in furtherance of its intelligence operations.            

Lai and Chen were arrested on June 27, 2025, during a coordinated FBI counterintelligence and law enforcement operation. A federal grand jury in the Northern District of California returned an indictment on July 1, 2025, charging both defendants with conspiracy to act as agents of a foreign government without prior notification to the Attorney General and acting as agents of a foreign government without prior notification.

Lai pleaded guilty to both offenses on Dec. 12, 2025. Chen pleaded guilty to both offenses on Feb. 20.

The FBI San Francisco Field Office led the investigation, with assistance from the FBI’s Portland, Houston, and San Diego Field Offices and the Naval Criminal Investigative Service.

New York City Council and CUNY Announce 99% Uptake for OMNY Pilot Program

 

693 of 700 unlimited transit cards have been distributed to CUNY students, funded by $700k secured by the Council

The New York City Council and the City University of New York (CUNY) announced that the CUNY OMNY Pilot Program — which provides free, unlimited OMNY cards to CUNY students through funding secured by the Council — saw a 99% uptake for the program’s inaugural roll out.

An initial 700 CUNY students were selected to participate in the pilot program. Now, 693 students have picked up their unlimited transit cards—totaling 99% of program cards. Students were given the opportunity to pick up their cards, which are now active for daily use, at a designated location on their respective campuses.

Speaker Julie Menin first announced the news of the program’s success at City & State’s Transportation in New York Summit, where she spoke about the importance of affordable, reliable transportation. Last month, Speaker Menin the program alongside CUNY Chancellor Félix V. Matos Rodríguez, the CUNY University Student Senate, and others.

“Even though transit is an essential service for the millions of New Yorkers who navigate the city every single day, rising costs present a major barrier, particularly for students who already have to cover tuition fees and may otherwise have limited sources of income,” said Speaker Julie Menin. “That’s why the Council is thrilled that 99% of the cards have been picked up by students who can now travel to and from school every day without having to worry if they can afford to attend class. And we hope that with nearly 30,000 interested students, this initial program success will allow us to expand the initiative in future years to put more of our city’s learners on a path to job security and prosperity.”

“With nearly every OMNY card made available through the CUNY OMNY Pilot Program already in the hands of CUNY students, participants can now focus on what our campuses have to offer rather than how to get there,” said CUNY Chancellor Félix V. Matos Rodríguez. “CUNY is dedicated to ensuring that students have the support they need to stay focused on their education, and we are grateful to Speaker Menin and the City Council for investing in our students.”

Participating students are Pell-eligible, enrolled full-time with at least 12 credits in both the fall and spring semesters, and taking a minimum of two in-person courses — and cannot receive transportation support through other programs. Of the approximately 54,000 CUNY students who met these eligibility criteria, more than 28,500 completed an interest form distributed by email—another metric demonstrating a widespread need for and interest in this program.

Participating students were given a physical OMNY card configured for unlimited usage, active from October 5 through December 25, 2026, for the fall semester, and a 120-day unlimited pass covering the full spring semester beginning January 28, 2027. Students will have the option to add their cards to a virtual wallet once the MTA introduces that capability, projected for the end of 2026.

Botox Fraud Doctor Sentenced to 15 Years in Prison for $45M Medicare Scheme

California doctor Violetta Mailyan was sentenced to 15 years in prison for using her medical practice to fraudulently bill Medicare more than $45 million for Botox injection services that were medically unnecessary and never provided.  

According to court documents and evidence presented at trial, Violetta Mailyan, 45, of Glendale, California, owned and operated Healthy Way Medical Center, a clinic that purported to provide beauty and cosmetic services. 

Although Medicare reimburses medical providers for Botox injections when necessary to treat documented cases of chronic migraines, Mailyan billed and received payments for thousands of injections that were never provided, were provided only for cosmetic purposes, or were given to patients whose primary care physicians had not referred them for treatment of chronic migraines. Evidence also showed that Mailyan billed for thousands of injections, representing over $19 million, purportedly provided on days when her clinic was closed. Mailyan also billed for providing Botox injections when she was actually on vacation in Mexico, Hawaii, Las Vegas, Pennsylvania, and New York at various times throughout her fraud scheme. For example, Mailyan billed over $200,000 for purportedly providing Botox services to patients in California when she was actually relaxing on the beach in Cabo: 

Photograph from Mailyan’s Phone, Sent from Cabo, Mexico, the Same Day She Billed Medicare $34,560 For Services Purportedly Rendered in Glendale, California.

The evidence also showed that when Mailyan realized federal investigators were closing in, she tried to hide her tracks by falsifying medical records and forging Medicare beneficiary signatures, including for a man who was in federal prison during the time Mailyan claimed to have provided treatment. Mailyan submitted these records to federal investigators, intending to throw them off her trail and make it appear as though she had seen patients she had not actually seen.

Mailyan used the money she stole to purchase luxury goods, including a $12,000 17th century crossbow and a $3,000 painting, depicted below:

17th Century Crossbow and $3,000 Painting that Mailyan Purchased with Medicare Fraud Proceeds.

In sentencing Mailyan, the Court commented that Mailyan’s fraud “was truly breathtaking in scope and shocking in its duration,” and that her actions were “almost unbelievable in their brazenness.” In addition to the prison sentence, the Court ordered the immediate forfeiture of over $16,029,742 worth of property seized from Mailyan, including real property, personal property, securities, and bank funds, effectively returning this taxpayer money to the United States. Mailyan was also ordered to pay $32,904,049.41 in restitution to Medicare, and the United States will vigorously pursue the return of these stolen funds.

After a six-day jury trial ending in May 2026, Mailyan was convicted of nine counts of wire fraud and three counts of obstruction of a criminal investigation of a health care offense. The jury also found that Mailyan used the fraud proceeds to purchase two Tesla vehicles, including a Cybertruck, and five pieces of California real estate.

HHS-OIG and FBI investigated the case.

Trial Attorneys Sandor Callahan and Jeffrey A. Crapko of the Fraud Division’s Health Care Fraud Section prosecuted the case. Assistant U.S. Attorney Tara Vavere for the Central District of California’s Asset Forfeiture and Recovery Section is handling asset forfeiture matters.

On April 7, the Department of Justice announced the creation of the Fraud Division. The Fraud Division is laser-focused on investigating and prosecuting those who commit fraud against the American people. The Department’s work to combat fraud supports President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.

The Department of Justice’s Health Care Fraud Strike Force Program, currently comprised of nine strike forces operating in federal districts across the country, has charged more than 6,200 defendants who collectively billed federal health care programs and private insurers more than $45 billion since 2007. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with the Office of the Inspector General for the Department of Health and Human Services, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

Office of the New York City Comptroller Releases Fiscal Year 2026 Annual Comprehensive Financial Report

The Office of New York City Comptroller Mark Levine issued the Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2026. The report contains the City’s audited financial statements, providing the public and policymakers with a detailed assessment of the City’s fiscal performance.

This year’s report comes amid growing economic uncertainty in the near-term, due in part to the rapid adoption of artificial intelligence (AI), changes in federal economic policy, stricter immigration enforcement, and geopolitical conflicts.

“The ACFR provides a clear-eyed accounting of how New York City’s public dollars are spent each year,” said New York City Comptroller Mark Levine. “We are on solid financial ground, but sustaining this requires a principled and disciplined approach to future budgets. Structural imbalances continue forcing New York City to spend more money than it’s taking in, and our reserves lack the funds to weather the fiscal shock of a recession. I am grateful to the dedicated staff within my Office who spend months preparing this report and have an unwavering commitment to safeguarding the City’s fiscal health.”

During Fiscal Year (FY) 2026, the City experienced considerable economic growth resulting in a 7.4% increase in General Fund tax revenues, primarily driven by AI-related investment activity, high asset prices, continued concentration of high-income earners, and strong business profitability. Persistent budgetary issues including the deterioration of the General Fund surplus, governmental funds balance, as well as the available fund balance metrics used by rating agencies in assessing the City’s credit all serve to undermine the current financial position.

While the City took meaningful steps to reduce the budget gap of $12 billion for fiscal years 26 and 27 initially estimated by the Comptroller’s Office in January, the General Fund closed the last fiscal year with expenditures growing by $8.32 billion or 7.0% (adjusted for transfers to eliminate future fiscal year projected gaps) compared to FY 2025, and revenues growing by $6.17 billion or 5.2%. Consequently, the FY 2026 surplus recorded the fourth consecutive and largest drop since FY 2022.

Two large cost increases between FY 2025 and FY 2026 signal the need for concrete plans to control reoccurring expenses. Over the course of the fiscal year, rental assistance expenditures grew 40.5% (from $1.34 billion to $1.88 billion) and the New York City Department of Education’s special education due process case expenditures more than doubled from $1.14 billion to $2.36 billion. Failing to establish clear controls for these budget items would create further uncertainty for future financial plans.

Additional highlights of the FY 2026 ACFR that paint a clear picture of the City’s fiscal standing are as follows:

General Finances

• The General Fund had revenues and other financing sources of $123.831 billion and expenditures and other financing uses of $124.794 billion, resulting in a deficit of $963 million, before the adjustment for restricted fund activities.
• Including the adjustment for restricted fund activities resulted in an operating surplus of $5.2 million. This amount increased the General Fund’s committed balance — the Revenue Stabilization Fund (RSF), the City’s rainy-day fund — to $1.974 billion.
• General Fund revenues were $6.171 billion higher than in FY 2025, an increase of 5.2%. The growth in revenues was driven by an increase of $5.916 billion in tax revenues.
• Actual FY 2026 General Fund revenues were $8.729 billion more than projected in the FY 2026 Adopted Budget (+7.6%). The increase was driven by a $4.909 billion variance in tax revenues (+6.0%), a $1.753 billion variance in federal categorical grants (+23.5%), a $1.370 variance in state categorical grants (+ 7.2%), and an $873 million variance in miscellaneous City revenues (+14.1%).
• Overall, the City availed itself of $16.803 billion in additional resources in FY 2026. The additional resources also include $1.930 billion attributable to the write-down of prior-year accrued expenses and revenues, which play an increasingly large role in achieving the General Fund balance.

Local Economic Conditions

• New York City’s job market grew by 71,100 jobs from June 2025 to June 2026. The total number of jobs in the City exceeded the pre-pandemic level by 145,000 (3.1%), with jobs in education and health services driving the lion’s share of growth.
• In contrast to previous fiscal years, jobs in the City’s office-using industries grew, led by a turnaround in the Professional and Business Services sector, which added 17,000 jobs after having lost about 10,000 in the prior fiscal year.
• New York City’s seasonally adjusted unemployment rate averaged 5.6% over the 12 months of FY 2026, a notable increase over the 4.9% average over the two prior fiscal years.
• The average level of the Consumer Price Index (CPI) in the New York City Metropolitan Area in FY 2026 was 3.7% above the prior year, a deceleration from the FY 2025 growth rate of 3.9% and 1.1 percentage points slower growth than the U.S. average, which accelerated during the same period.
• The Manhattan office vacancy rate fell by more than 3 percentage points in FY 2026 to 19.3%, the lowest level in five years.
• Tourism in New York City was little changed in calendar year 2025, according to NYC Tourism & Conventions, with an estimated 65 million visitations, up less than 1% from 64.5 million in calendar year 2024. A 1.6% increase in domestic visitors was offset by a 3.1% dip in visitations from abroad, with a steep (19%) drop in visitors from Canada.

Pension Fund Performance

• As of the end of FY 2026 the City’s pension funds saw an aggregate return net-of-fees of 13.0%, greater than the 7.0% actuarial target for FY 2026.
• Outperformance will lower required pension contributions by an estimated $4.302 billion through FY31.
• The five Systems held a combined portfolio value of $326.26 billion as of the end of FY 2026.
• The funds are 96.1% funded to meet their long-term obligations.

Municipal Finance

• The City’s borrowing and refinancing schedule continued at a steady pace despite market fluctuations, and retail investor participation in sales remained strong.
• Two of the four major credit rating agencies (Fitch, and Moody’s) currently maintain a negative outlook on the City’s GO bonds’ rating. To date, there has been no change in the City’s GO and TFA ratings.
• In FY 2026, the GO and TFA credits issued a combined 10 new money transactions, for a total principal amount of $15.33 billion, which raised $15.91 billion of proceeds for the City’s capital needs.
• During FY 2026, the City and TFA issued five refunding transactions that generated over $482 million of debt service savings over the life of the bonds.

For the 46th consecutive year, the Government Finance Officers Association (GFOA) awarded the City of New York the prestigious Certificate of Achievement for Excellence in Financial Reporting.

The full Annual Comprehensive Financial Report (ACFR) for Fiscal Year 2026 is now available at https://comptroller.nyc.gov/reports/annual-comprehensive-financial-reports/. 

Wave Hill Weekly Events (Nov 5 – Nov 12) | Soar Through the Gardens

 

Here on the ground, the gardens are cast in a golden light by the bright sun and an ochre moon. In the sky, not too far above our heads, silhouettes glide through the rays of what we could only dream of reaching. On treetops, perched atop homes like statues, and carried by winds that blow through the valleys of the Hudson, you’ll find raptors keeping a watchful eye on the places they call home. Look for native and migratory hawks, owls, and other feathered friends here at Wave Hill as they pass through and show us just how high they can soar.

Nature & Wellness 

Garden Highlights Walk

Sun, Nov 8, 1:00PM – 1:45PM

Free with admission to the grounds 

Registration not required.

Join a knowledgeable Wave Hill Garden Guide for a leisurely stroll in the gardens. Topics vary by season and the expertise of the Guide; each walk varies with the Guide leading it.

Fall Birding

Sun, Nov 8, 9:30AM – 11:00AM

Advanced registration encouraged.

Fall is peak migration time along the Hudson River, and we have a front seat! Join naturalist, Gabriel Willow as you explore Wave Hill’s gardens, woodlands, and the skies overhead to look for resident and migrating birds.

Fiery Fall Sunset Yoga

Sun, Nov 8, 4:00PM – 5:00PM

Advanced registration encouraged.

Experience yoga at sunset with unforgettable views of the Hudson River and Palisades at their colorful fall peak. Led by Sara Hart of Artemis Audio & Ayurveda. Please bring a yoga mat.

Art

Public Gallery Tour

Thu, Nov 5, 2:00PM – 2:45PM

Sat, Nov 7, 2:00PM – 2:45PM 

Free with admission to the grounds

Registration not required. 

Solo and group exhibitions at Glyndor Gallery explore the dynamic relationships between nature, culture, and site. Visitors can expect an in-depth look at artworks on view in Glyndor Gallery and in the Sunroom Project Space, showcasing the work of both emerging and established artists in the unique context of a public garden. Each tour lasts approximately 45 minutes.

Family

Family Art Project: Raptors in Autumn Sky

Sat, Nov 7, 10:00AM – 1:00PM

Sun, Nov 8, 10:00AM – 1:00PM 

Free with admission to the grounds

Registration not required. 

Keep your eyes on the sky as you look for migrating hawks soaring and circling above the Hudson River. Be inspired by our feathery friends as you fashion a raptor glider for the autumn breezes.

Special Events

Afternoon Tea

Thu, Nov 5, 12:00PM – 2:00PM

Tue, Nov 10, 12:00PM – 2:00PM 

7-day Advanced Registration required

Enjoy delicious tea sandwiches and delectable pastries with a specialty tea selection every Tuesday and Thursday with seatings at 11AM or 2PM. Served at historic Wave Hill House, Afternoon Teas are provided by our exclusive partner Great Performances whose menu uses local and seasonal ingredients, inspired from their own organic farm, Katchkie Farm. 

HOURS STARTING MARCH 15: 10AM–4:30PM, Tuesday–Sunday 

Shuttle Service free from Subway and Metro-North, Saturday–Sunday

Information at 718.549.3200. On the web at wavehill.org.