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DiNapoli: NYSLRS Announces Employers' Retirement System Contribution Rates for 2023-2024
… of State Retirement Administrators (NASRA), the only other state pension fund with an assumed rate of return …
https://www.osc.ny.gov/press/releases/2022/09/dinapoli-nyslrs-announces-employers-retirement-system-contribution-rates-2023-2024Examination of Official Station Designation
… official station will normally be the employee’s main place of business (i.e., the place where the employee … of the State. Instead of designating the employee’s main place of business, where the employee spent 61 percent …
https://www.osc.ny.gov/state-agencies/audits/2018/12/27/examination-official-station-designationNYS Common Retirement Fund Announces First Quarter Results
… said. "As a long term investor, the fund's performance is best measured by its success over a period of years if not … in publicly traded domestic equities and 17.3 percent in international public equities. The remaining Fund assets by … (7.7 percent), real estate (6.5 percent), absolute return strategies (2.8 percent) and opportunistic alternatives and …
https://www.osc.ny.gov/press/releases/2017/08/nys-common-retirement-fund-announces-first-quarter-resultsDiNapoli: State Pension Fund Value $206.9 Billion
… March 31, 2018. The Fund ended the year with an estimated value of $206.9 billion, which is subject to change once returns are fully audited. The Fund’s value at the end of state fiscal year 2017 was $192.4 … billion. “The New York State Common Retirement Fund’s value rose with help from strong markets through most of the …
https://www.osc.ny.gov/press/releases/2018/05/dinapoli-state-pension-fund-value-2069-billionProcurement Practices
… that lack support for business need or reasonableness of price, among other questionable transactions. Buffalo agrees … related and goods or services are obtained at a reasonable price. Improve the awarding and monitoring of the agreements … selection that includes evaluating parts and materials price lists for custodial equipment maintenance and repair …
https://www.osc.ny.gov/state-agencies/audits/2019/10/03/procurement-practicesNYS Common Retirement Fund Reports First Quarter Results
… quarter with an estimated value of $268.3 billion. “The financial markets remain strong, as industry sectors and … and transparency. Quarterly rates of return provide a snapshot of performance over three months and reflect a …
https://www.osc.ny.gov/press/releases/2021/08/nys-common-retirement-fund-reports-first-quarter-resultsVII.10.D Cash Advance Payment Types – VII. State Revenues and Appropriated Loan Receivables
… using one of the following preferred payment methods for small dollar purchases: Purchasing cards (P-cards) Travel … the required documentation. Petty Cash (Advance Account Code 59001) The petty cash advance account can be used for … upon receipt of the employee’s salary check. Please see ‘Personal Service (Payroll) Corrections’ within this section …
https://www.osc.ny.gov/state-agencies/gfo/chapter-vii/vii10d-cash-advance-payment-typesOffice of the State Comptroller Response to Report Issued Today by the Department of Financial Services
… including lowering the hedge fund allocation to 2 percent of assets from 3 percent and paying below average fees. In … fund in well over a year. Unfortunately, the Department of Financial Services seems more interested in playing political games, so remains unaware of actions taken by what is one of the best managed and best …
https://www.osc.ny.gov/press/releases/2016/10/office-state-comptroller-response-report-issued-today-department-financial-servicesCost-Saving Ideas: Reviewing Your Revenue Collection Process
… receipt collection system may get revenue into its bank account more quickly. Start by evaluating the costs and … revenue collection alternatives, using measures such as: How long does it take to process a tax or fee payment? How … earnings. Use a Bank Having a bank process payments on behalf of your local government can reduce the amount of …
https://www.osc.ny.gov/local-government/publications/cost-saving-ideas-reviewing-your-revenue-collection-processOxford Academy and Central School District – Transportation Department Purchase and Service Contracts (2023M-2)
… procured and monitored transportation contracts in the best interest of taxpayers. Key Findings District officials did not always … to verify that the parts ordered were used for District vehicles. Key Recommendations Comply with competitive bidding …
https://www.osc.ny.gov/local-government/audits/school-district/2023/06/09/oxford-academy-and-central-school-district-transportation-departmentTown of Watertown Fire District – Procurement (2022M-155)
… (Board) used a competitive process to procure goods and services not subject to competitive bidding. Key Findings We examined purchases totaling $292,992 and found purchases totaling $179,903 (61 percent) were not … the District’s procurement policy. As a result, the Board and District officials do not have assurance that goods and …
https://www.osc.ny.gov/local-government/audits/fire-district/2022/11/04/town-watertown-fire-district-procurement-2022m-155Accounts Payable Advisory No. 68
… to Financial Operations (GFO), Chapter XII, Section 10.D – Monitoring Moving Service Guidance: This section provides … services performed. The GFO, Chapter XII, Section 10.D – Monitoring Moving Services provides agencies with detailed … guidance for receiving a thorough bid, effectively monitoring the move, reviewing the vendor’s invoice, and …
https://www.osc.ny.gov/state-agencies/advisories/accounts-payable-advisory/68-monitoring-moving-servicesDiNapoli Appoints Anastasia Titarchuk Chief Investment Officer of the New York State Common Retirement Fund
… grateful for the trust Comptroller DiNapoli has placed in me over the years,” Titarchuk said. “Working with the Fund’s …
https://www.osc.ny.gov/press/releases/2019/08/dinapoli-appoints-anastasia-titarchuk-chief-investment-officer-new-york-state-common-retirement-fundDiNapoli: State Pension Fund Value $192 Billion
… that ended on March 31, 2017. The Fund has an estimated value of $192 billion. “Strong returns over the fiscal year, … said. “New York state’s pension fund is at a record value based on prudent long term asset allocation. We …
https://www.osc.ny.gov/press/releases/2017/05/dinapoli-state-pension-fund-value-192-billionNew York State Comptroller Thomas P. DiNapoli Gives Best Wishes For New Year, 01/01/15
… “New Year's Day is a fresh start and a time to embrace new goals derived from lessons learned over the past year. … New Years Day is a fresh start and a time to embrace new goals derived from lessons learned over the past year …
https://www.osc.ny.gov/press/releases/2015/01/new-york-state-comptroller-thomas-p-dinapoli-gives-best-wishes-new-year-010115Opinion 2010-2
… PERSONAL PROPERTY -- Disposition of (procedures for selling unneeded vehicles by town water district) WATER … 57). In describing a local government's responsibility in selling unneeded property when competitive bidding is not … unique facts. In that case, the City of New York was selling two public radio stations. The City's decision to …
https://www.osc.ny.gov/legal-opinions/opinion-2010-2State Pension Employer Contribution Rates Announced for 2020-21, Assumed Rate of Return Lowered
… DiNapoli is also dropping the long-term assumed rate of return on investments from 7 percent to 6.8 percent, … we have kept the state pension fund strong and one of the best funded in the nation. The long-term outlook for … As in years past, we’re taking the responsible action of lowering our assumed rate of return now so we can better …
https://www.osc.ny.gov/press/releases/2019/08/state-pension-employer-contribution-rates-announced-2020-21-assumed-rate-return-loweredManagement and Control of Overtime Costs (Follow-Up)
… Purpose To determine the extent of implementation of the three … could compromise the quality of the care they provide due to fatigue. The objective of our follow-up was to assess the extent of implementation, as of November 19, … To determine the extent of implementation of the three …
https://www.osc.ny.gov/state-agencies/audits/2014/12/23/management-and-control-overtime-costs-followWayne Central School District – Property Disposal (2021M-161)
… 2016 transportation study conducted by an external advisory group which also made a recommendation designed to …
https://www.osc.ny.gov/local-government/audits/school-district/2022/02/04/wayne-central-school-district-property-disposal-2021m-161Mount Vernon City School District – Procurement of Natural Gas (2019M-91)
… (District) Board and District officials procured natural gas at the most favorable terms and in the best interest of … The Board and District officials did not procure natural gas in accordance with New York State General Municipal Law … Board and District officials: Did not monitor the natural gas rates charged by the energy supply company (ESCO) or …
https://www.osc.ny.gov/local-government/audits/school-district/2022/04/15/mount-vernon-city-school-district-procurement-natural-gas-2019m-91