Overview:
This story was initially revealed by THE CITY. It explains the obligations of New York’s comptroller — from auditing metropolis businesses to overseeing the most important public pension fund on this planet — and breaks down who’s working for the place within the 2025 election. With Mayor Brad Lander not looking for reelection, the place is huge open. Candidates embody Councilmember Justin Brannan, Manhattan Borough President Mark Levine, and State Sen. Kevin Parker, amongst others. Reporting by THE CITY.
By Katie Honan and Rachel Holliday Smith, THE CITY
With an advanced $112 billion greenback funds, New York Metropolis wants somebody to maintain a eager eye on its pockets. There’s rather a lot to deal with: union contracts, an enormous pension fund, company audits and extra.
The one that watches the books and oversees Metropolis Corridor’s spending known as the comptroller, a place at the moment stuffed by Brad Lander.
Now that Lander’s making a run for mayor, his workplace is up for grabs.
In 2025, the campaigns for mayor will seemingly seize all the eye. However selecting our subsequent comptroller is equally important for metropolis voters — particularly those that care about fiscal duty.
Right here’s our information on how the workplace works and who’s working for the job:
What does a comptroller do anyway?
Town’s comptroller is our municipal auditor and monetary watchdog.
The workplace’s chief obligations are getting ready audits and overseeing how metropolis businesses spend their cash; managing the town’s public pension funds — the most important on this planet at $274 billion as of mid-2024, in accordance with Lander — and issuing bonds to assist pay for giant initiatives.
The comptroller additionally evaluations most contracts that metropolis businesses enter into.
A current instance of that work was the rejection of a no-bid $33 million Rikers Island commissary contract that Division of Correction officers gave to a non-public agency with identified issues across the nation.
Beneath the Metropolis Constitution, nevertheless, the mayor can override the comptroller’s choice to reject a contract. That’s what Adams did with the Rikers deal, moving forward regardless of Lander’s objections.
The comptroller can solely reject proposed contracts primarily based on a number of technical causes or if “there may be ample cause to consider that there’s attainable corruption,” in accordance with the Metropolis Constitution.
To do all this work, the comptroller’s workplace employs greater than 700 individuals.
One different essential and distinctive function that the comptroller serves is being second within the line of succession to the mayor, after the general public advocate.
- Need to know extra? Right here’s a list of duties from the comptroller’s workplace.
- This video from the town Marketing campaign Finance Board gives a very good clarification of the function.
The title dates again to earlier than the 5 boroughs had been consolidated into New York Metropolis. However the job as we all know it as we speak was established within the Metropolis Constitution revision of 1989, which abolished the highly effective Board of Estimate the U.S. Supreme Courtroom had discovered was unconstitutional. The constitution adjustments left the town with a uniquely highly effective mayor, whereas giving funds oversight energy and management of public pensions, amongst different issues, to the comptroller.
Like Lander, a number of comptrollers have tried to hopscotch from the workplace to Metropolis Corridor, although it’s been practically 50 years since one made the leap: Abe Beame.
Beame served as comptroller from 1962 to 1965 and once more from 1970 to 1973 earlier than serving as the town’s first Jewish mayor from 1974 to 1977, as the town nearly went bankrupt.
Since Beame, six metropolis comptrollers — Harrison Goldin, Alan Hevesi, William Thompson, John Liu, Scott Stringer and Lander — have run for the highest job.
None have succeeded — but. Stringer, who additionally ran for mayor within the 2021 Democratic major, and Lander are each contenders within the 2025 mayoral major.One different factor: Town’s comptroller shouldn’t be confused with the state’s comptroller, at the moment Thomas DiNapoli, who has served in that place since 2007.
Who’s working for metropolis Comptroller?
These are the candidates who will seem on the June 24 Democratic major poll, in accordance with the town Board of Elections. The poll was licensed in early Could:
Justin Brannan (D)
The southern Brooklyn Metropolis Council member and finance chair formally introduced his intention to run in January, leaning into the work he’s finished in the course of the metropolis’s funds negotiations. He was elected to the Council in 2017 after a diversified profession that included being a touring musician in punk and metallic bands and gigs in finance.
His platform contains elevated funding the Metropolis College of New York and a promise of pay parity for EMS staff, who’re a part of the Hearth Division, in relation to different uniformed companies. He’s been a number one voice because the Council disputes a few of the mayor’s gloom-and-doom monetary figures, and in a social-media post about his run he insisted that “NYC will not be broke. The truth is, our financial system is robust.”
He has about $1.9 million in marketing campaign funds as of Could, in accordance with CFB records.
Mark Levine (D)
A former Metropolis Council member who represented elements of Manhattan, Levine was elected because the borough president in 2021. He filed paperwork permitting him to boost cash for a run at comptroller final summer time, saying he’s “extremely enthusiastic about the way forward for New York Metropolis.”
He’s main the race by way of fundraising, with greater than $3.2 million in his marketing campaign coffers, records present.
Kevin Parker (D)
The Brooklyn state senator from Flatbush has represented his district since 2003, and beforehand labored as an aide to former State Comptroller Carl McCall.
He has lower than $5,000 in his marketing campaign fund, in accordance with the newest finance information.
Parker has a history of outbursts and bodily altercations, together with threats to colleagues and a conviction for attacking a tabloid photographer.
Perez has a multi-decade profession in metropolis and state authorities, from working as an government assistant to the state comptroller in his early profession to working at the moment as an analyst for the Division of Citywide Administrative Companies, in accordance with his LinkedIn profile.
He has about $38,000 in his marketing campaign fund as of early Could, information present.