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Cost-Saving Ideas: Legal Requirements
… Municipal Law (GML) Section 10 requires the designation of one or more "banks" or "trust companies" for deposit of public funds and for the securing of public deposits. Section 11 allows for certain temporary …
https://www.osc.ny.gov/local-government/publications/cost-saving-ideas-legal-requirementsHammond Central School District – Financial Management (2024M-70)
… when they used reserves funds totaling $1.6 million. In addition, they exceeded the voter-approved funding level … Accumulated excessive balances totaling about $600,000 in three reserves. Did not budget to fund reserves. From … July 1, 2020 through June 30, 2023, more than $1.5 million in fiscal year-end unbudgeted transfers were made to increase …
https://www.osc.ny.gov/local-government/audits/school-district/2024/10/11/hammond-central-school-district-financial-management-2024m-70Oswego County – Court and Trust Funds (2022-C&T-5)
… (i.e., a security interest in property filed to ensure payment for contracted services rendered on the property). … when the whereabouts of any person entitled to payment from the estate is unknown, funds from estates are …
https://www.osc.ny.gov/local-government/audits/county/2022/11/23/oswego-county-court-and-trust-funds-2022-ct-5Cost-Saving Ideas: Using State Contracts to Acquire Goods or Services
… in lower prices and better quality goods and services. Benefits of Using State Contracts In addition to potentially … and school districts. You can view OGS contracts on its website at www.ogs.ny.gov , or register to receive email … (518) 474-6717 Email: [email protected] Website: www.ogs.ny.gov Updated 2020 … CostSaving Ideas Using …
https://www.osc.ny.gov/local-government/publications/cost-saving-ideas-using-state-contracts-acquire-goods-or-servicesSouth Country Central School District – Procurement (2013M-91)
… County in the Town of Brookhaven. The District is governed by the Board of Education (Board), which comprises nine …
https://www.osc.ny.gov/local-government/audits/school-district/2013/06/28/south-country-central-school-district-procurement-2013m-91NY State Comptroller DiNapoli Announces Responsible Workforce Management Policy for Private Equity Investments
… DiNapoli, trustee of the New York State Common Retirement Fund (Fund), today announced the Fund’s adoption of its … of new investments within its $38 billion private equity asset class, the new Policy will require an evaluation … reasonably compensated, and well-trained workforce can deliver higher quality products and services, which in …
https://www.osc.ny.gov/press/releases/2024/04/ny-state-comptroller-dinapoli-announces-responsible-workforce-management-policy-private-equityNYS Common Retirement Fund Announces First Quarter Results
… York State Common Retirement Fund’s (Fund) overall return in the first quarter of the state fiscal year 2016-2017 was 2 … 30, 2016, the Fund has 38.3 percent of its assets invested in publicly traded domestic equities and 15.6 percent in international public equities. The remaining Fund assets …
https://www.osc.ny.gov/press/releases/2016/08/nys-common-retirement-fund-announces-first-quarter-resultsNYS Common Retirement Fund Announces Second Quarter Results
… York State Common Retirement Fund’s (Fund) overall return in the second quarter of state fiscal year 2016-2017 was 3.51 … percent for the three-month period ending Sept. 30, 2016, with an estimated value of $184.5 billion, according to New … The Fund has consistently been ranked as one of the best managed and best funded plans in the nation. The Fund’s …
https://www.osc.ny.gov/press/releases/2016/11/nys-common-retirement-fund-announces-second-quarter-resultsState Comptroller DiNapoli Releases Municipal & School Audits
… approved by the former supervisor rather than the board. In addition, 13 claims, totaling $23,116, did not contain … which they were paid, and one bookkeeper received $1,751 in additional pay with no evidence of approval. Town of … $3,869. The former clerk also did not deposit $4,038 in cash collections recorded from Jan. 1, 2018 through April …
https://www.osc.ny.gov/press/releases/2024/04/state-comptroller-dinapoli-releases-municipal-school-audits-0Town of Marcellus – Supervisor’s Records and Reports (2013M-375)
… was to determine if the Supervisor properly accounted for and reported the Town’s financial transactions for the … through August 31, 2013. Background The Town of Marcellus is located in Onondaga County and has a population of 6,200. … Key Recommendations Ensure that all financial activity is accounted for completely and accurately and that monthly …
https://www.osc.ny.gov/local-government/audits/town/2014/03/14/town-marcellus-supervisors-records-and-reports-2013m-375Gowanda Central School District – Financial Management (2024M-104)
… to accumulate surplus funds in excess of the legal limit is in effect a reservation of fund balance that artificially …
https://www.osc.ny.gov/local-government/audits/school-district/2024/12/13/gowanda-central-school-district-financial-management-2024m-104Valhalla Union Free School District – Financial Condition (2015M-333)
… audit was to evaluate the District’s financial condition for the period July 1, 2013 through September 30, 2015. … the Towns of Greenburgh, Mount Pleasant and North Castle in Westchester County. The District, which operates four … seven-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year are approximately $47 million. …
https://www.osc.ny.gov/local-government/audits/school-district/2016/03/25/valhalla-union-free-school-district-financial-condition-2015m-333Portville Central School District – Financial Condition (2013M-384)
… in Cattaraugus County. The District operates one school with approximately 1,000 students and is governed by an … that the unexpended surplus fund balance is in compliance with Real Property Tax Law statutory limits and develop a …
https://www.osc.ny.gov/local-government/audits/school-district/2014/04/18/portville-central-school-district-financial-condition-2013m-384State Comptroller DiNapoli Statement on New York City Budget & Financial Plan
… “A year after the city budgeted for its largest ever drop in property tax collections, a remarkable turnaround in property values emerged. The tentative property tax rolls … The city cautiously projects an additional $848 million in property tax revenue annually, given the state of the …
https://www.osc.ny.gov/press/releases/2022/02/state-comptroller-dinapoli-statement-new-york-city-budget-financial-planNYS Common Retirement Fund Announces Second Quarter Results
… York State Common Retirement Fund's (Fund) overall return in the second quarter of the state fiscal year 2017-2018 was … has reached the $200 billion milestone, during a quarter in which returns exceeded the strong performance we saw at … since 2008. We take the long view of success, investing in ways that provide consistent returns and retirement …
https://www.osc.ny.gov/press/releases/2017/11/nys-common-retirement-fund-announces-second-quarter-resultsLyncourt Union Free School District – Financial Condition (2016M-62)
… our audit was to assess the District’s financial condition for the period July 1, 2014 through September 30, 2015. … The Lyncourt Union Free School District is located in the Town of Salina, Onondaga County. The District, which … five-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year totaled approximately $9.9 …
https://www.osc.ny.gov/local-government/audits/school-district/2016/07/01/lyncourt-union-free-school-district-financial-condition-2016m-62Gates-Chili Central School District - Financial Management (2019M-53)
… over the last three years despite having sufficient funds to finance the District’s increased costs. Key …
https://www.osc.ny.gov/local-government/audits/school-district/2019/06/21/gates-chili-central-school-district-financial-management-2019m-53Town of Exeter – Town Clerk/Tax Collector (2024M-15)
… deposited and remitted collections accurately and in a timely manner. Key Findings The Clerk generally … on a weekly basis, as required by New York State Town Law (Town Law) Section 35. Instead, the Clerk made annual remittances in February, which kept the money from being productively used or invested to earn additional …
https://www.osc.ny.gov/local-government/audits/town/2024/05/31/town-exeter-town-clerktax-collector-2024m-15Saugerties Central School District – Extra-Classroom Activities (2017M-77)
… that student treasurers are adequately accounting for all collections or remitting them to the central treasurers … and the annual sales tax returns were not filed with the New York State Department of Taxation and Finance. Most … of collections, such as a daily sales report. Monitor all club sales subject to sales tax; ensure that student …
https://www.osc.ny.gov/local-government/audits/school-district/2017/07/14/saugerties-central-school-district-extra-classroom-activities-2017m-77DiNapoli: 22 School Districts Designated in Fiscal Stress
… Thomas P. DiNapoli’s Fiscal Stress Monitoring System for the school year (SY) ending June 30, 2024, up from 16 … largely reflects recent increases in state and federal aid. “Pandemic-related federal funding as well as a boost in state aid have helped school …
https://www.osc.ny.gov/press/releases/2025/01/dinapoli-22-school-districts-designated-fiscal-stress