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State Comptroller DiNapoli Releases Municipal Audits
… today announced the following local government audits have been issued. Town of Brookhaven Local Development … from the projects that the corporation approves. To do so, the board must establish measurable goals for all … today announced the following local government audits have been issued …
https://www.osc.ny.gov/press/releases/2022/07/state-comptroller-dinapoli-releases-municipal-audits-1NY Common Retirement Fund Announces New Measures to Protect State Pension Fund From Climate Risk and Invest in Climate Solutions
… Retirement Fund (Fund) will restrict its investments in eight integrated oil and gas companies, including Exxon … bonds and actively managed public equity holdings in eight integrated oil and gas companies that it has … generation, energy storage, resource efficiency, and green infrastructure across all asset classes. As part of the …
https://www.osc.ny.gov/press/releases/2024/02/ny-common-retirement-fund-announces-new-measures-protect-state-pension-fund-climate-risk-and-investLehman College – Controls Over Bank Accounts
… Lehman College (Lehman) officials adequately assured that all Lehman bank accounts were authorized and used only for … funds that Lehman officials should have transferred to the State. As of March 31, 2015, these funds totaled over $1 …
https://www.osc.ny.gov/state-agencies/audits/2016/04/21/lehman-college-controls-over-bank-accountsDiNapoli: State Tax Collections Dip
… revenue remains below estimates.” Total receipts from all funds, including miscellaneous and federal receipts, declined … focuses primarily on the General Fund and All Governmental Funds. The General Fund is the major operating fund of the state. All Governmental Funds includes General, Special Revenue, Debt Service and …
https://www.osc.ny.gov/press/releases/2016/07/dinapoli-state-tax-collections-dipDiNapoli Releases April Cash Report
… (DOB) projections, according to the April state cash report released today by State Comptroller Thomas P. … April receipts.” Other findings from the April cash report include: PIT receipts through April totaled $6.7 … settlement revenue. DiNapoli's office issues a state cash report every month identifying actual state revenues and …
https://www.osc.ny.gov/press/releases/2015/05/dinapoli-releases-april-cash-reportState Agencies Bulletin No. 422.2
… checking or savings account. Agencies cannot use form AC230 , Report of Check Returned for Refund or Exchange, … Refer to the authorization on the AC2772 , Direct Deposit form for further information. Effective Dates: Immediately … request to the DD Returns and Reversals mailbox. One form should be submitted for each check date. AC3197 requests …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/4222-revised-direct-deposit-delete-and-reversalsDiNapoli Announces $200 Million Commitment for Opportunistic Investments
… Common Retirement Fund to help increase access to the best investment talent in the emerging hedge fund space,”said … instruments and has consistently been ranked as one of the best managed and best funded plans in the nation. Over the past 20 years, 80 …
https://www.osc.ny.gov/press/releases/2014/02/dinapoli-announces-200-million-commitment-opportunistic-investmentsTown of Henrietta – Financial Management and Purchasing (2013M-208)
… budgeting practices and the level of unexpended surplus funds to maintain. The Board has adopted budgets that were … has accumulated a significant amount of unexpended surplus funds in the general and drainage district funds. The Board did not provide sufficient oversight over …
https://www.osc.ny.gov/local-government/audits/town/2014/01/24/town-henrietta-financial-management-and-purchasing-2013m-208NYS Common Retirement Fund Reports Third Quarter Results
… Retirement Fund’s (Fund) estimated return in the third quarter of the State Fiscal Year (SFY) 2018-19 was -7.17 … percent for the three-month period ending Dec. 31, 2018, with an estimated value of $197.3 billion, according to New … Fund’s investment returns were 1.53 percent in the first quarter and 3.47 percent in the second quarter. About the New …
https://www.osc.ny.gov/press/releases/2019/02/nys-common-retirement-fund-reports-third-quarter-resultsDiNapoli Releases February State Cash Report
… is on target to reach year-end revenue projections with collections of $67.8 billion in taxes through the first 11 … growth has come primarily from Medicaid and other public health costs as well as education. Year-to-date tax … are easily accessible on his transparency website called Open Book New York ( www.openbooknewyork.com ). … New York …
https://www.osc.ny.gov/press/releases/2016/03/dinapoli-releases-february-state-cash-reportFrewsburg Central School District – Internal Controls Over Selected Financial Activities (2013M-327)
… $14.2 million. Key Findings District officials did not adopt policies governing the establishment, use and maintenance of reserve funds and could not … do not ensure that access rights to the payroll and human resource modules within the computerized accounting …
https://www.osc.ny.gov/local-government/audits/school-district/2014/02/07/frewsburg-central-school-district-internal-controls-over-selectedLong Island Workforce Housing Act (2015-MR-4)
… implemented the Long Island Workforce Housing Act (Act) in 2008 for the purpose of making homeownership more … has not adopted guidelines and procedures governing how expenditures will be made from the trust fund. Key … fees paid in lieu of the designation of affordable units are calculated in accordance with the Act. Establish …
https://www.osc.ny.gov/local-government/audits/statewide-audit/2016/01/08/long-island-workforce-housing-act-2015-mr-4Awarding and Oversight of Statewide Interoperable Communications Grants (Follow-Up)
… examined whether the Division of Homeland Security and Emergency Services (Division) awarded contracts to entities … Audit/Report of Interest Division of Homeland Security and Emergency Services: Awarding and Oversight of Statewide …
https://www.osc.ny.gov/state-agencies/audits/2018/11/13/awarding-and-oversight-statewide-interoperable-communications-grants-followCity of Batavia – Business Improvement District (2017M-283)
… the BID in 1997. The BID is a geographic area in which a charge is imposed upon benefited properties for improvements, … District day-to-day management functions. The 2017-18 BID charge was $55,742. Key Findings The Council did not enter …
https://www.osc.ny.gov/local-government/audits/city/2018/04/06/city-batavia-business-improvement-district-2017m-283Andover Central School District - Financial Management (2018M-145)
… was within the statutory limit each year. When these funds are added back to the general fund, recalculated … limit each year by 12 to 14 percentage points. Reserve funds are generally not being used as intended. 1 Three … balance to within the statutory limit and use the excess funds in a manner more beneficial to taxpayers. Review and …
https://www.osc.ny.gov/local-government/audits/school-district/2018/10/19/andover-central-school-district-financial-management-2018m-145City of Fulton – Fiscal Stress (2013M-310)
… Purpose of Audit The purpose of our audit was to review the City’s … to incur planned operating deficits in the general fund. This has led to a significant reduction in the City’s … the City with little cushion for managing unforeseen events. Key Recommendations Adopt a policy setting forth the …
https://www.osc.ny.gov/local-government/audits/city/2013/11/22/city-fulton-fiscal-stress-2013m-310Village of Morris – Fund Balance (2017M-58)
… average of 59 percent). In both the general and water funds, the contingency budget line exceeded the maximum … Key Recommendations Use general and water surplus funds as a financing source for funding one-time … the maximum allowable amount in both the general and water funds. … Village of Morris Fund Balance 2017M58 …
https://www.osc.ny.gov/local-government/audits/village/2017/06/09/village-morris-fund-balance-2017m-58State Comptroller Thomas P. DiNapoli Statement on Executive Budget
… Year 2027-28, it is important that actions are taken to improve the long-term stability of the state’s finances, while ensuring adequate funding for our most important needs, including education, public … funds should be retained for emergencies. It is important to develop clear guidelines on the appropriate use of these …
https://www.osc.ny.gov/press/releases/2024/01/state-comptroller-thomas-p-dinapoli-statement-executive-budgetVillage of Pomona – Financial Condition (2015M-272)
… and Ramapo in Rockland County. The Village, which has a population of approximately 3,100, is governed by a Village … as of the end of fiscal year 2014-15. Village officials have not developed a multiyear plan to address the Village’s … rather than throughout the year when needed. The Board does not receive audited financial statements in a timely …
https://www.osc.ny.gov/local-government/audits/village/2015/12/31/village-pomona-financial-condition-2015m-272Floral Park-Bellerose Union Free School District – Financial Management (2013M-359)
… period July 1, 2011 through June 30, 2013. Background The Floral Park-Bellerose Union Free School District is located … have consistently overestimated expenditures totaling $12.5 million. Although the Board appropriated unexpended surplus funds each year (approximately $10.3 million over a five-year period) to help finance the …
https://www.osc.ny.gov/local-government/audits/school-district/2014/02/14/floral-park-bellerose-union-free-school-district-financial-management