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What is a Defined Benefit Plan?
… the biggest contributor to your pension plan is the New York State Common Retirement Fund . Over the past 20 years, … to an individual retirement account, and the money in the account is invested. Though the plan may offer …
https://www.osc.ny.gov/retirement/members/defined-benefit-planImplications for the Future – 2022 Financial Condition Report
… The Economic Outlook: Uncertainty Remains As the world faced … revenues and resource levels available to support spending for State programs. The Importance of Federal Funding Federal … services and other essential programs. In recent years, for example, new federal funding has helped to extend health …
https://www.osc.ny.gov/reports/finance/2022-fcr/implications-futureOpinion 92-48
… bear on the issues discussed in the opinion. MUNICIPAL FUNDS -- Mandatory Reserve Fund (need to establish); (use of … inter alia , to the establishment of mandatory reserve funds by municipal corporations, fire districts and school …
https://www.osc.ny.gov/legal-opinions/opinion-92-48Monitoring of Not-for-Profit Cemeteries for Fiscal Stability and Adequate Facility Maintenance
… must allot a portion of their revenue to two separate funds: a Current Maintenance Fund for current ordinary and … developed by the Division found Permanent Maintenance Funds at 37 locations to be underfunded by a median of at …
https://www.osc.ny.gov/state-agencies/audits/2017/07/11/monitoring-not-profit-cemeteries-fiscal-stability-and-adequate-facility-maintenanceDiNapoli: Monroe County Failed to Monitor Contractor Operating Golf Courses, Costing Taxpayers
… as well as expenditures it promised to make, and kept funds totaling more than $246,000 that should have been spent … As a result, the county will need to invest additional funds into the golf courses that should have been covered by …
https://www.osc.ny.gov/press/releases/2014/08/dinapoli-monroe-county-failed-monitor-contractor-operating-golf-courses-costing-taxpayersDiNapoli Reaffirms Commitment to DEI Initiatives
… “The Fund urges the development of robust DEI strategies because it’s good business. Fostering an inclusive … to establish robust DEI policies and practices can result in reputational damage, the loss of talent, and stunted … holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million …
https://www.osc.ny.gov/press/releases/2024/03/dinapoli-reaffirms-commitment-dei-initiativesDiNapoli: New York City's Budget Outlook Improves
… affordability and working families will require additional funds. While additional revenue and savings have helped the … this program was previously supported by expiring federal funds. The January Financial Plan also does not include …
https://www.osc.ny.gov/press/releases/2024/02/dinapoli-new-york-citys-budget-outlook-improvesState Comptroller DiNapoli Releases School Audits
… detailing the appropriate and necessary levels for reserve funds and how they are to be monitored, analyzed and …
https://www.osc.ny.gov/press/releases/2017/01/state-comptroller-dinapoli-releases-school-auditsState Comptroller DiNapoli Releases Audits
… and recipient performance to ensure recipients use funds as intended and achieve program goals. Auditors … claims totaling nearly $732 million from its four special funds in 2019 — the Uninsured Employers Fund, the Special …
https://www.osc.ny.gov/press/releases/2021/06/state-comptroller-dinapoli-releases-auditsState Comptroller DiNapoli Releases School Audits
… with the district’s procurement policy and found that 16 of these purchases were purchased using state and county … property taxes and appropriated fund balance totaling $16 million and reserves totaling $258,440 that were not … appropriated fund balance totaling $4.5 million for 2015-16. In addition, the district had two reserves totaling $2.6 …
https://www.osc.ny.gov/press/releases/2016/08/state-comptroller-dinapoli-releases-school-audits-2State Comptroller DiNapoli Releases Audits
… audit scope, and HCR could not fully reconcile its HCV financial figures. HCR made progress in addressing the issues … not implementing two. Office for the Aging, Department of Financial Services, Department of State, State University of … Assistance – Selected State Agencies’ Roles in Financial Literacy (Follow-Up) (2024-F-7) In 2021, New York State …
https://www.osc.ny.gov/press/releases/2024/12/state-comptroller-dinapoli-releases-auditsCity of Lockport -- Budget Review (B7-1-14)
… deficits in the City’s general, refuse, water and sewer funds as of December 31, 2013. The Act requires the City to …
https://www.osc.ny.gov/local-government/audits/city/2017/11/01/city-lockport-budget-review-b7-1-14City of Glen Cove -- Budget Review (B17-7-12)
… surplus in the golf and recreation fund. These three funds are projected to have a combined unassigned fund …
https://www.osc.ny.gov/local-government/audits/city/2017/10/13/city-glen-cove-budget-review-b17-7-12Sullivan County – County Jail Operations (2013M-33)
… purpose of our audit was to examine County jail operations and related costs for the period January 1, 2011, to October 5, 2012. … The County Legislature is the legislative body responsible for managing County operations and is responsible for the …
https://www.osc.ny.gov/local-government/audits/county/2013/06/14/sullivan-county-county-jail-operations-2013m-33City of Long Beach – Budget Review (B18-7-5)
… deficit in the City’s general fund and certain other funds as of June 30, 2012. Local Finance Law requires all …
https://www.osc.ny.gov/local-government/audits/city/2018/05/08/city-long-beach-budget-review-b18-7-5East Clinton Fire District – Internal Controls Over Financial Operations (2012M-194)
… totaling approximately $463,000 were listed as reserve funds even though the Board could not provide evidence that …
https://www.osc.ny.gov/local-government/audits/fire-district/2014/02/04/east-clinton-fire-district-internal-controls-over-financial-operationsState Comptroller DiNapoli Releases Municipal Audits
… 2017, city officials balanced the budget using primarily casino revenue, averaging $9 million, and fund balance, … deplete available fund balance. Assuming no additional casino revenue is received, the city will have a projected …
https://www.osc.ny.gov/press/releases/2017/09/state-comptroller-dinapoli-releases-municipal-audits-0City of Newburgh -- Budget Review (B18-6-12)
… general fund budget for the debt payment, or transfer funds as appropriate. Modify the budget for police and …
https://www.osc.ny.gov/local-government/audits/city/2018/11/16/city-newburgh-budget-review-b18-6-12DiNapoli: Farms Generated $5.7 Billion for New York Economy
… land, farmland protection initiatives, capital investment funds for new farmers, and financial incentives for schools …
https://www.osc.ny.gov/press/releases/2019/08/dinapoli-farms-generated-57-billion-new-york-economyComptroller DiNapoli Releases Municipal Audits
… – Financial Management (2019M-94) The water and sewer funds maintained excessive unrestricted fund balance levels, …
https://www.osc.ny.gov/press/releases/2019/08/comptroller-dinapoli-releases-municipal-audits-0