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XVI.4.A Cash and Investments – XVI. Financial Reporting

… Policy References: GASB Statement No. 40 – Deposit and Investment Risk Disclosures (an amendment of GASB Statement … its own benefit and as an agent for other parties. Major investment programs conducted for the direct benefit of the State include the Short Term Investment Pool (STIP) which is used for the temporary …

https://www.osc.ny.gov/state-agencies/gfo/chapter-xvi/xvi4a-cash-and-investments

Developing an Effective Fund Balance Policy

Please print out the slideshow presentation prior to the webinar to following along for valuable information on how to develop an effective fund balnce policy.

https://www.osc.ny.gov/files/local-government/academy/pdf/fund-balance-012319.pdf

DiNapoli: April Sales Tax Collections Decline Over 24 Percent After COVID-19 Shutdown

… tax collections dropped 24.4 percent in April compared to April 2019, leaving many of New York’s local governments … household finances, and the April sales tax figures show how deep it is cutting into municipal finances,” DiNapoli … lost revenues for a single month. Unknown at this time is how collections are impacted by consumers’ growing reliance …

https://www.osc.ny.gov/press/releases/2020/05/dinapoli-april-sales-tax-collections-decline-over-24-percent-after-covid-19-shutdown

Accounts Payable Advisory No. 72

… Guidance for Land Acquisition Payments Reference: Guide to Financial Operations Chapter XII.6.B – Land Acquisition … “Paying for the Purchase of Land”) informs State agencies how to process vouchers for land acquisition payments. Update: Guide to …

https://www.osc.ny.gov/state-agencies/advisories/accounts-payable-advisory/72-land-acquisition-payments

DiNapoli: State Needs To Do More for Growing Mental Health Crisis in Schools

… Too many of New York school districts’ mental health teams are understaffed, with too few available services and … of New York City entered the pandemic with mental health teams that were far short of nationally recommended … ratios: 19 school districts reported having no mental health professional staff at all; 653 (95%) did not …

https://www.osc.ny.gov/press/releases/2022/04/dinapoli-state-needs-do-more-growing-mental-health-crisis-schools

DiNapoli: Wall St. Profits on Pace to Beat 2017

… operations of New York Stock Exchange (NYSE) member firms. There are now about 120 firms, down from more than 200 before the financial crisis. … The level was boosted by the presence of hedge-fund firms in Suffolk County, where the average salary was …

https://www.osc.ny.gov/press/releases/2018/09/dinapoli-wall-st-profits-pace-beat-2017

Residents of Long-Term Care Facilities Lacking Access to Advocates

… state lack regular access to ombudsman services due to a decline in the number of volunteers and a severe shortage of paid staff, according to an audit … Under the federal Older Americans Act of 1965, to be eligible for certain federal grants, each state is …

https://www.osc.ny.gov/press/releases/2019/10/residents-long-term-care-facilities-lacking-access-advocates

State Health Department Unnecessarily Paid over $1 Billion for Patients Covered by Private Insurance

… P. DiNapoli. "Glitches in the state Department of Health's payment system and other problems led to over a billion … third-party coverage. Since June 2016, DOH has improved payment controls that use third-party insurance information …

https://www.osc.ny.gov/press/releases/2018/06/state-health-department-unnecessarily-paid-over-1-billion-patients-covered-private-insurance

NYS Common Retirement Fund Announces First Quarter Results

… The New York State Common Retirement Fund’s (Fund) overall return in the first quarter …

https://www.osc.ny.gov/press/releases/2016/08/nys-common-retirement-fund-announces-first-quarter-results

DiNapoli: State Needs to Improve Oversight of Child Care Grants

… The Office of Children and Family Services (OCFS) failed to adequately oversee the use of child care stabilization … funds received during the COVID-19 pandemic, according to an audit released today by State Comptroller Thomas P. … could have obtained—from providers or other state entities—better information more aligned with current operating …

https://www.osc.ny.gov/press/releases/2024/11/dinapoli-state-needs-improve-oversight-child-care-grants

State Agencies Bulletin No. 2300

… The purpose of this bulletin is to notify agencies of the 2025 maximum salary limit for ORP and VDC plan members. Affected Employees: Tier 1 … (C), and 408 (k) (6) (D) (ii) will increase to $350,000 for the 2025 calendar year. Effective Dates: Effective …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2300-maximum-salary-limit-members-optional-retirement-plan-orp-and-voluntary

SCAM ALERT

… to Retirement Online , aimed to trick users and capture login credentials. First and foremost, we assure you your …

https://www.osc.ny.gov/retirement/scam-alert

Accounts Payable Advisory No. 16

… to Long Island Power Authority Guidance: Consistent with the Guide to Financial Operations (GFO), Chapter XII, Section 5.C - Selecting the Appropriate Vendor and Address Sequence , Business Units … when processing payments to vendors. Improper preparation of vouchers payable to Long Island Power Authority may delay …

https://www.osc.ny.gov/state-agencies/advisories/accounts-payable-advisory/16-complex-entity-long-island-power-authority

State Police Bulletin No. SP-180

… the 2011-2018 Agreement between the State of New York and the New York State Police Investigators Association (NYSPIA), … be returned with a completed Next of Kin Affidavit ( Form AC 934-P ) and a Report of Check Exchange ( Form AC 1476-P ). …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-police/sp-180-2017-maintenance-allowance-mta-increase

DiNapoli Faults Oversight at Public Service Commission of Orders and Agreements

… are living up to their promises,” DiNapoli said. “My auditors found the state Public Service Commission was not …

https://www.osc.ny.gov/press/releases/2020/03/dinapoli-faults-oversight-public-service-commission-orders-and-agreements

State Agencies Bulletin No. 1797

… Purpose The purpose of this bulletin is to notify agencies of the 2020 maximum salary limit for … Payroll Retirement mailbox. … The purpose of this bulletin is to notify agencies of the 2020 maximum salary limit for …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1797-maximum-salary-limit-optional-retirement-plan-orp-retirement-tiers-1

Reporting of Community-Based Services Under the Transformation Reinvestment Plan

… Objective To determine whether the Office of Mental Health provides … The mission of the Office of Mental Health (OMH) is to promote the mental health of all New Yorkers, with a …

https://www.osc.ny.gov/state-agencies/audits/2022/10/26/reporting-community-based-services-under-transformation-reinvestment-plan

DiNapoli: Wall St. Profits Return to Pre-Pandemic Levels

… billion earned in the same period last year, according to State Comptroller Thomas P. DiNapoli’s annual report on New … “The last two years of profits and bonuses fueled in part by the extraordinary federal response to the pandemic were … . Under State Comptroller DiNapoli’s open data initiative, search millions of state and local government financial …

https://www.osc.ny.gov/press/releases/2022/10/dinapoli-wall-st-profits-return-pre-pandemic-levels