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County of Otsego Industrial Development Agency (COIDA) – Oneonta Rail Yards Acquisition (2021M-38)
… (Rail Yards). Key Findings COIDA did not adequately plan for the 2017 acquisition of the Rail Yards. The property … acquired based on a $6 million to $20 million development plan, without an interested developer. We found no indication … Yards development struggles. Key Recommendation Properly plan for property acquisitions. COIDA officials disagreed …
https://www.osc.ny.gov/local-government/audits/industrial-development-agency/2022/02/11/county-otsego-industrial-development-agency-coida-oneontaExamples from GASB Statement 34 - Statement of Revenues, Expenses and changes in Net Assets
… Nonoperating revenues (expenses): Interest and investment revenue 454,793 146,556 601,349 134,733 …
https://www.osc.ny.gov/local-government/publications/examples-gasb-statement-34-statement-revenues-expenses-and-changes-net-assetsVillage of Riverside – Clerk-Treasurers' Records and Reports (2024M-107)
… did not file the required Annual Financial Report (AFR) for the last four fiscal years and the current AFR was …
https://www.osc.ny.gov/local-government/audits/village/2024/11/27/village-riverside-clerk-treasurers-records-and-reports-2024m-107DiNapoli: The South Bronx Sees Economic Growth Despite Pandemic Challenges
… ($32,381) and fewer adults who graduate from college (14%) when compared to the borough and city. The pandemic …
https://www.osc.ny.gov/press/releases/2023/11/dinapoli-south-bronx-sees-economic-growth-despite-pandemic-challengesOpinion 91-36
… 244-b; TOWN LAW, §277(1); VILLAGE LAW, §7-730(1): A newly incorporated village which has no parks of its own may enter … park trust funds should be in or sufficiently near the developments which generated the fees so that the facilities …
https://www.osc.ny.gov/legal-opinions/opinion-91-36Hannibal Fire Company – Misappropriation of Funds (2023M-59)
… whether the Hannibal Fire Company (Company) Board of Directors (Board) established adequate controls over cash … to misappropriate over $850,000 in Company funds during an eight-and-a-half-year period. For example, he was able to: … work. Obtain an annual audit by an independent public accountant, as required. Company officials agreed with our …
https://www.osc.ny.gov/local-government/audits/fire-company-or-department/2023/07/21/hannibal-fire-company-misappropriation-funds-2023m-59State Comptroller DiNapoli Releases Municipal Audits
… not conduct required audits or adopt a procurement policy, investment policy or code of ethics, as required. Although …
https://www.osc.ny.gov/press/releases/2021/02/state-comptroller-dinapoli-releases-municipal-auditsPlanning and Financing New York State's Capital Investments, March 2014
Investment in capital assets is essential to New York’s economy and its quality of life.
https://www.osc.ny.gov/files/reports/budget/pdf/budget-capital-investments-2014.pdfDebt – 2022 Financial Condition Report
… to finance future capital assets and grants. New York State Ranks Second Highest in Outstanding Debt Nationwide At the end of SFY 2021-22, the … with State resources, directly or indirectly, to a public authority, bank trustee or other municipal issuer. …
https://www.osc.ny.gov/reports/finance/2022-fcr/debtPerformance of the Excelsior Jobs Program
… 2010 through September 30, 2015. Background The Excelsior Jobs Program (Program), established in Chapter 59 of the Laws … the firms must create and maintain specific numbers of new jobs and/or make significant capital investments. Empire … committed to invest nearly $5.8 billion and create 34,472 jobs in New York State. Key Findings We sampled 25 companies …
https://www.osc.ny.gov/state-agencies/audits/2016/07/07/performance-excelsior-jobs-programDiNapoli: State Pension Fund Value $194.3 Billion
… New York State Comptroller Thomas P. DiNapoli today announced … Common Retirement Fund (Fund) had a -2.68 percent return on investments in the state fiscal year (SFY) that ended on March 31, 2020, …
https://www.osc.ny.gov/press/releases/2020/07/dinapoli-state-pension-fund-value-1943-billionOpinion 91-57
… annually with general taxes of the municipality or school district which established the library. That section also … library fund by the treasurer of the municipality or district making the appropriation and shall be expended only …
https://www.osc.ny.gov/legal-opinions/opinion-91-57DiNapoli High-Tech is on the Rise in NYC
… in the rest of the city’s economy, with annual salaries that are well above the citywide average, according to a … P. DiNapoli. “High-tech firms not only created 25,000 jobs over the last four years, they created high-paying … Exchange, a New York City-based IT firm in which the State Pension Fund has invested . “Access to ridiculous talent, …
https://www.osc.ny.gov/press/releases/2014/04/dinapoli-high-tech-rise-nycDiNapoli Releases Profile of New York's Small Business Owners
… as the primary source of their income. According to data from the Kauffman Institute, the share of New York’s …
https://www.osc.ny.gov/press/releases/2024/03/dinapoli-releases-profile-new-yorks-small-business-ownersDiNapoli: New York Sees Improvement in Condition of Local Bridges
… bridges. Local governments, mostly counties, own 50.6% or 8,891 of the state’s bridges. New York Compared to the … of Transportation inspects a bridge, it assigns a rating or score – ranging from 0 (worst) to 9 (best) – to major … loads. If any major component receives a score of 4 or below, the bridge is rated “poor.” In New York, 9% of all …
https://www.osc.ny.gov/press/releases/2024/07/dinapoli-new-york-sees-improvement-condition-local-bridgesDiNapoli: MTA Budget Gaps Return
… as the MTA hoped. With farebox and tax revenues down, a pause on congestion pricing and other financial risks, … for funding of its 2020-2024 capital program. The pause on congestion pricing has created a $15 billion funding … report warns that if the loss of revenue from the pause on congestion pricing is not resolved, and if other …
https://www.osc.ny.gov/press/releases/2024/10/dinapoli-mta-budget-gaps-returnNY-Sun Incentive Program (Follow-Up)
… Program (Report 2015-S-91 ). Background The New York State Energy Research and Development Authority (Authority) … self-sustaining and self-sufficient solar industry in the State. Our initial audit report, which was issued on September 2, 2016, examined whether the Authority achieved …
https://www.osc.ny.gov/state-agencies/audits/2018/06/20/ny-sun-incentive-program-followComptroller DiNapoli Releases Municipal Audits
… New York State Comptroller Thomas P. DiNapoli today announced … budget complies with the property tax levy limit. … New York State Comptroller Thomas P DiNapoli today announced …
https://www.osc.ny.gov/press/releases/2015/07/comptroller-dinapoli-releases-municipal-audits-1Virgil Fire District – Internal Controls Over Financial Operations (2012M-329)
Virgil Fire District Internal Controls Over Financial Operations 2012M329
https://www.osc.ny.gov/local-government/audits/fire-district/2014/02/17/virgil-fire-district-internal-controls-over-financial-operations-2012m-329Emerging Manager Definition and Life Cycle
… to build an institutional investor-ready firm Sound compliance and operating standards Institutionally-trained …
https://www.osc.ny.gov/common-retirement-fund/emerging-manager/emerging-manager-definition-and-life-cycle