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Comptroller DiNapoli Releases Municipal Audits
… totaling $1.4 million, were not properly supported by adequate documentation to establish and/or maintain … exemptions totaling $5.7 million that were not supported by adequate documentation. The Assessor also did not … approximately $1.5 million, were not properly supported by adequate documentation to establish and/or maintain …
https://www.osc.ny.gov/press/releases/2019/03/comptroller-dinapoli-releases-municipal-auditsDiNapoli: MWBE Participation in the State’s Pension Fund Rose to All-Time High in State Fiscal Year 2020-21
… New York State Common Retirement Fund (Fund) assets managed by Minority and Women-Owned Business Enterprise (MWBE) … half of the Fund’s assets are managed internally by its own diverse staff. Of the $127 billion of Fund assets … strong in the Private Equity portfolio, which grew by more than $700 million. The Fund makes a portion of its …
https://www.osc.ny.gov/press/releases/2021/07/dinapoli-mwbe-participation-states-pension-fund-rose-all-time-high-state-fiscal-year-2020-21Selected Aspects of Leasing Practices for Real Estate Department, Aviation, World Trade Center, and Leasing of Properties
… created to promote and protect the commerce of the Port District – a region within approximately a 25-mile radius of …
https://www.osc.ny.gov/state-agencies/audits/2021/05/04/selected-aspects-leasing-practices-real-estate-department-aviation-world-trade-center-andTown of Rodman – Town Clerk/Tax Collector (2023M-85)
… monthly bank reconciliations and accountability analyses by preparing a list of liabilities and comparing it to …
https://www.osc.ny.gov/local-government/audits/town/2023/09/22/town-rodman-town-clerktax-collector-2023m-85Altmar-Parish-Williamstown Central School District – Financial Condition (2015M-232)
… two schools with approximately 1,300 students, is governed by an elected seven-member Board of Education. The District’s …
https://www.osc.ny.gov/local-government/audits/school-district/2017/11/22/altmar-parish-williamstown-central-school-district-financial-conditionEmerging Manager Program
… seeks to graduate emerging managers to direct investments by the Fund. There are presently seventeen emerging managers …
https://www.osc.ny.gov/common-retirement-fund/emerging-managerOpinion 2002-15
… maintaining a building used as the town hall are raised by taxes levied on a townwide, or town outside village, … informed that the building used as the town hall is owned by the town, used for the offices of the town supervisor, … clerk, assessor, justice and building inspector, and, by intermunicipal agreement, is also used by a village. As a …
https://www.osc.ny.gov/legal-opinions/opinion-2002-15-0Opinion 2002-15
… for the cost of street lighting within a town pursuant to Town Law §64(19) and Highway Law §327 are raised on a … that requires or permits monies for any given purpose to be raised from taxes levied only in the unincorporated … have concluded that a local government may not, pursuant to its home rule powers, exempt properties in that portion of …
https://www.osc.ny.gov/legal-opinions/opinion-2002-15DiNapoli: 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’s Economy and Finances in the COVID-19 Era (April 16, 2021)
… Protection Program (PPP) is a loan program administered by the U.S. Small Business Administration (SBA) first authorized by Congress in March 2020 to respond to the economic hardships faced by small businesses and not-for-profit organizations due to …
https://www.osc.ny.gov/reports/new-yorks-economy-and-finances-covid-19-era-april-16-2021Tax Exemption Administration In the Towns of Babylon, Brookhaven, Huntington, Islip and Smithtown (2019MR-1)
… documentation. Assessors misclassified or failed to grant supported exemptions. Key Recommendations Properly … equalization rate or other uniform rate of assessment to all properties listed on the Town’s assessment roll. … before granting exemptions. Annually verify income to support Senior Citizen exemptions. … Determine whether …
https://www.osc.ny.gov/local-government/audits/statewide-audit/2019/09/20/tax-exemption-administration-towns-babylon-brookhaven-huntington-islipCity of Newburgh – Budget Review (B6-16-17)
… the significant revenue and expenditure projections in the City’s proposed budget for the 2017 fiscal year are reasonable. Background The City of Newburgh, located in Orange County, issued debt …
https://www.osc.ny.gov/local-government/audits/city/2016/11/10/city-newburgh-budget-review-b6-16-17Sweet Home Central School District – Financial Management (2022M-166)
… encumbered funds and improperly restricted surplus funds in a debt reserve. As a result, District officials were not … including $2.8 million which was improperly restricted in a debt reserve as of June 30, 2021. The Board … action. Appendix B includes our comments on issues raised in the District’s response. … audit sweet home school …
https://www.osc.ny.gov/local-government/audits/school-district/2023/03/31/sweet-home-central-school-district-financial-management-2022m-166Town of Carlisle – Fund Balance (2017M-106)
… Board. Budgeted appropriations for the general and highway funds for 2017 totaled $827,305. Key Findings The Board has … the Town’s objectives and goals for using the accumulated funds. General fund balance totaled $623,000 at the end of … and acceptable level for fund balances for all Town funds, and adopt a fund balance policy that reflects these …
https://www.osc.ny.gov/local-government/audits/town/2017/11/20/town-carlisle-fund-balance-2017m-106Fishers Fire District – Financial Condition (2021M-128)
… 2018 and 2020 tax caps to close projected budget gaps. As a result, more real property taxes were levied than needed to … action. Appendix B includes our comment on issues raised in the District’s response. … Determine whether the Board of …
https://www.osc.ny.gov/local-government/audits/fire-district/2021/10/29/fishers-fire-district-financial-condition-2021m-128Henrietta Fire District – Financial Condition (2021M-27)
… fund balance to close projected budget gaps. As a result, more real property taxes were levied than needed. … did not adopt realistic budgets from 2017 through 2021. As a result, fund balance increased to $4.4 million on December … action. Appendix B includes our comments on issues raised in the District’s response. … Determine whether the Board of …
https://www.osc.ny.gov/local-government/audits/fire-district/2021/07/16/henrietta-fire-district-financial-condition-2021m-27DiNapoli: State Pension Fund Valued at $274.6 Billion at End of Second Quarter
… State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was …
https://www.osc.ny.gov/press/releases/2024/11/dinapoli-state-pension-fund-valued-274-point-6-billion-end-second-quarterDiNapoli: State Pension Fund Valued at $267.7 Billion at End of First Quarter
… underlines the continued economic uncertainties faced by investors,” DiNapoli said. “Fortunately, our diverse … in publicly traded equities. The remaining Fund assets by allocation are invested in cash, bonds, and mortgages … 5.9%. DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to …
https://www.osc.ny.gov/press/releases/2024/08/dinapoli-state-pension-fund-valued-267-point-7-billion-end-first-quarterOpinion 90-53
… Duties (delegation of to independent contractor) VILLAGE LAW, §§1-102; 3-301(2); 4-408(a): (1) In the absence of … a municipal corporation may contract with private parties for the performance of only those of its functions which may … also Fox v Mohawk and Hudson River Humane Society , 165 NY 517). A municipality, however, may retain consultants to …
https://www.osc.ny.gov/legal-opinions/opinion-90-53Opinion 97-1
… that bear on the issues discussed in the opinion. PUBLIC HOUSING AUTHORITIES -- Powers and Duties … be one of the participants in a plan. Any . . . other public corporation may by resolution of its governing body … in a plan established in the county, or, in the case of a public corporation . . . located in more than one county, in …
https://www.osc.ny.gov/legal-opinions/opinion-97-1