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DiNapoli: IDA Audits Reveal Need For Improved Project Oversight
… said DiNapoli. “IDAs are leveraging tax breaks in exchange for long-term jobs and future revenue for their communities, but without adequate safeguards in … process in place to track amounts billed and collected for Payments in Lieu of Taxes (PILOT). Auditors found three …
https://www.osc.ny.gov/press/releases/2015/09/dinapoli-ida-audits-reveal-need-improved-project-oversightDiNapoli, Stringer Lead Investors Calling on Olympic Sponsors to End Their Silence, Defend Russian LGBT Rights
… major corporate sponsors of the upcoming Winter Olympic Games in Sochi, Russia that failed to respond to an earlier … lesbian, gay, bisexual and transgender (LGBT) citizens to free speech and freedom to assemble. Of the ten, six …
https://www.osc.ny.gov/press/releases/2014/02/dinapoli-stringer-lead-investors-calling-olympic-sponsors-end-their-silence-defend-russian-lgbtNYS and NYC Pension Funds To SEC: Greater Disclosure Needed On Risks Faced By Fossil Fuel Industry
… silence of fossil fuel companies on the risks they face from climate change is a red flag for investors,” Stringer …
https://www.osc.ny.gov/press/releases/2015/04/nys-and-nyc-pension-funds-sec-greater-disclosure-needed-risks-faced-fossil-fuel-industryDebt – 2023 Financial Condition Report
… next five years, declining to $3.7 billion in SFY 2027-28. For both SFYs 2020- 21 and 2021-22, new debt issuances were … two years. It also continues to authorize debt issuance for MTA purposes in excess of the 30-year maximum term limit, … agencies have previously cited issuing additional debt for operating purposes as a potential risk factor that may …
https://www.osc.ny.gov/reports/finance/2023-fcr/debteBay Publicly Commits to Gender and Racial Diversity in Search for Board Members
… and revised its Guidelines to state that, “When searching for new directors, the Board should actively seek out highly … to diversity as it plans the creation of a separate board for PayPal.” “As eBay enters this critical transition, Trillium applauds the company for increasing board diversity as it looks to the future. We …
https://www.osc.ny.gov/press/releases/2015/03/ebay-publicly-commits-gender-and-racial-diversity-search-board-membersDiNapoli: Money Earmarked for Highway and Bridge Infrastructure Siphoned Off
… down debt from past projects and cover the operating costs for state agencies, according to a report by New York State … shows the problems have gotten worse. DHBTF spending for capital projects declined between state fiscal year (SFY) … aside to build or repair roads and bridges is being used for new capital projects by the state,” DiNapoli said. “It is …
https://www.osc.ny.gov/press/releases/2022/01/dinapoli-money-earmarked-highway-and-bridge-infrastructure-siphoned-offDiNapoli Announces Reduction in Employer Contribution Rates for Retirement System
… contribution rates to the New York State and Local Retirement System (NYSLRS) for both of its systems – the Employees’ Retirement System …
https://www.osc.ny.gov/press/releases/2021/08/dinapoli-announces-reduction-employer-contribution-rates-retirement-systemControls Over Capital Improvements at City-Owned Homeless Shelters
… and adequate controls over the capital improvement process at City-owned homeless shelters. Our audit covered the period … to other shelters or to other rooms within the shelter: At Brooklyn’s Auburn Family Residence, which housed 172 adult … 2018, is now expected to be finished in December 2022. At Park Slope, a 100-bed women’s shelter also in Brooklyn, …
https://www.osc.ny.gov/state-agencies/audits/2020/08/25/controls-over-capital-improvements-city-owned-homeless-sheltersDiNapoli: ESD Falls Short in Reporting Results of Economic Development Programs
… said. "We need better reporting to ensure transparency in economic development spending and to promote an informed … regulations, ESD is mandated to report on the outcomes of many of the programs it supervises. Reporting requirements … each program. Auditors found: ESD failed to produce many of the statutorily-required performance and outcome …
https://www.osc.ny.gov/press/releases/2017/05/dinapoli-esd-falls-short-reporting-results-economic-development-programsDiNapoli Op-Ed: Act on Proposal to Help State & Local Governments Pay for Retiree Health Care
… call this an unfunded liability, because there is no money being set aside now to cover these future costs. New … that want to do the right thing and set aside some money lack the legal mechanism to pre-fund these benefits. … Under my proposal, public employers could set aside money in a trust fund to pay for these benefits and invest …
https://www.osc.ny.gov/press/releases/2015/06/dinapoli-op-ed-act-proposal-help-state-local-governments-pay-retiree-health-careDiNapoli Announces Unprecedented Support for Climate Actions During 2021 Proxy Season
… was the first proxy season the Fund achieved agreements on all of its climate-related shareholder proposals. “A … clarifying how the Fund reviews companies’ preparedness for the transition to a low-carbon economy, and delineating … by activist investment firm Engine No. 1, who won seats on ExxonMobil’s Board of Directors with the goal of to better …
https://www.osc.ny.gov/press/releases/2021/07/dinapoli-announces-unprecedented-support-climate-actions-during-2021-proxy-seasonNYS Comptroller DiNapoli: One of Largest U.S. Carbon Emitters Commits to Lower GHG Emissions
… Agreement's goals. As a result, the New York State Common Retirement Fund's (Fund) has withdrawn the shareholder … company. "The utilities sector should pay close attention to AEP's commitment to decarbonize its operations," DiNapoli … reduction targets only extended to 2020 and did not show how or whether its long-term emissions were aligned with the …
https://www.osc.ny.gov/press/releases/2018/02/nys-comptroller-dinapoli-one-largest-us-carbon-emitters-commits-lower-ghg-emissionsControls and Accountability of Court, Trust and Bail Funds (Follow-up)
… of implementation of the eight recommendations included in our initial report, Controls and Accountability of Court, … accounts Key Finding Finance officials have made progress in correcting each of the problems we identified. Of the … are planned to address the unresolved issues discussed in this review. … To determine the extent of implementation …
https://www.osc.ny.gov/state-agencies/audits/2015/12/03/controls-and-accountability-court-trust-and-bail-funds-followNew York State Comptroller DiNapoli Statement on Win at SEC
… Trustee of New York State Common Retirement Fund, and the Church of England co-filed a shareholder proposal at … Edward Mason, Head of Responsible Investment for the Church Commissioners, said: "We are delighted that …
https://www.osc.ny.gov/press/releases/2016/03/new-york-state-comptroller-dinapoli-statement-win-secJefferson County Industrial Development Agency (JCIDA) – Project Approval and Monitoring (2020M-70)
… to approval and subsequently monitored the performance of businesses that received financial benefits. Key Findings … all projects prior to approval or monitor the performance of businesses that received financial benefits. Officials did … our comments on issues raised in the IDA’s response letter. … Determine whether officials appropriately evaluated …
https://www.osc.ny.gov/local-government/audits/industrial-development-agency/2020/10/02/jefferson-county-industrial-development-agency-jcidaHammond Fire District – Board Oversight (2024M-151)
… District’s financial operations are adequately accounted for and reported. Furthermore, although the Board adopted a …
https://www.osc.ny.gov/local-government/audits/fire-district/2025/02/21/hammond-fire-district-board-oversight-2024m-151Opinion 91-36
… or statutory amendments that bear on the issues discussed in the opinion. ZONING AND PLANNING -- Park Lands (use of village park trust fund moneys to develop facilities in town park) PARKS AND RECREATION -- Joint Parks (use of village park trust fund moneys to develop facilities in town park) GENERAL MUNICIPAL LAW, §§119-o, 244-b; TOWN …
https://www.osc.ny.gov/legal-opinions/opinion-91-36DiNapoli: The South Bronx Sees Economic Growth Despite Pandemic Challenges
… COVID. Still the South Bronx has a higher overall poverty rate (36.3%), a lower median household income ($32,381) and …
https://www.osc.ny.gov/press/releases/2023/11/dinapoli-south-bronx-sees-economic-growth-despite-pandemic-challengesPlattekill Public Library – Procurement and Investment of Funds (2020M-143)
Determine whether the Plattekill Public Library (Library) Board of Trustees (Board) made purchases in compliance with its procurement policy and invested in accordance with statutory requirements and its adopted investment policy.
https://www.osc.ny.gov/files/local-government/audits/2021/pdf/plattekill-2020-143.pdfTown of Kent – Procurement and Information Technology (2017M-85)
… have a current contract with the IT consultant. Multiple game programs had been downloaded onto Town computers. In …
https://www.osc.ny.gov/local-government/audits/town/2017/11/21/town-kent-procurement-and-information-technology-2017m-85