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DiNapoli: NYC Financial Plan Improved From June
… after surplus transfers), reflecting continued improvement in the city’s fiscal position since June, but city finances … pressure amid a slowing economic recovery and an increase in demand for city services, according to State Comptroller … DiNapoli said. “However, the city faces potential declines in real estate and income-related revenue collections as well …
https://www.osc.ny.gov/press/releases/2022/12/dinapoli-nyc-financial-plan-improved-juneDiNapoli: Former Morley Fire Company Treasurer Ordered to Pay $50,000 for Theft of Public Funds
… cash withdrawals at ATMs in the Del Lago Resort & Casino and the Turning Stone Resort Casino. She also wrote checks to herself from the fire … Fraud Hotline at 1-888-672-4555, by filing a complaint online at https://www.osc.state.ny.us/investigations , or by …
https://www.osc.ny.gov/press/releases/2024/01/dinapoli-former-morley-fire-company-treasurer-ordered-pay-50000-theft-public-fundsDiNapoli: New York City's Budget Outlook Improves
… increased revenue from business, personal income, and property taxes. Tax projections rose by $1.3 billion in FY …
https://www.osc.ny.gov/press/releases/2024/02/dinapoli-new-york-citys-budget-outlook-improvesDiNapoli: MTA Avoided A Fiscal Crisis, Now It Has To Convince Riders To Come Back
… continue to come back, the MTA risks returning to its all too familiar cycles of crisis.” Revenues and Expenditures … example, the MTA has yet to identify how it will achieve all of the $500 million in annual savings by 2025 that is …
https://www.osc.ny.gov/press/releases/2023/10/dinapoli-mta-avoided-fiscal-crisis-now-it-has-convince-riders-come-backState Agencies Bulletin No. 2159.1
… use of an employer-provided vehicle and chauffeur services in the New York State Payroll System (PayServ) for tax year … Fringe Benefits are taxable income that must be included in the employee’s taxable gross wages. This income is … Regulations. Agencies should have an established process in place requiring employees to substantiate their business …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/21591-procedures-reporting-taxable-value-personal-use-employer-providedDiNapoli: Housing Cost Burdens for New Yorkers Among Nation's Highest
… consume more than 30% of their household income, with 1 in 5 households experiencing a severe cost burden of more … Comptroller Thomas P. DiNapoli. This is the third report in the State Comptroller’s “New Yorkers in Need” series. Previous reports focused on poverty and food …
https://www.osc.ny.gov/press/releases/2024/02/dinapoli-housing-cost-burdens-new-yorkers-among-nations-highestState Agencies Bulletin No. 2159
… use of an employer-provided vehicle and chauffeur services in the New York State Payroll System (PayServ) for tax year … Fringe Benefits are taxable income that must be included in the employee’s taxable gross wages. This income is … Regulations. Agencies should have an established process in place requiring employees to substantiate their business …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2159-procedures-reporting-taxable-value-personal-use-employer-providedDiNapoli: More School Districts Take Initial Steps to Exceed Tax Cap
… initially planning to override New York’s property tax cap in 2016-17 has nearly doubled when compared to last year, but … cap, which first applied to local governments beginning in 2012, limits tax levy increases to the lesser of the rate … show they will be able to levy a total of $19.4 billion in 2016-17. This represents a 0.89 percent increase over the …
https://www.osc.ny.gov/press/releases/2016/03/dinapoli-more-school-districts-take-initial-steps-exceed-tax-capPension Fund Makes Progress on Board Diversity
… and Governance Committee Charter now states that "on an ongoing basis, the Committee will consider Board … responsibilities." Research shows that the ability to draw on a wide range of viewpoints, backgrounds, skills and … Technologies Inc. and has filed similar proposals with 20 portfolio corporations since 2012. The Fund withdrew …
https://www.osc.ny.gov/press/releases/2017/03/pension-fund-makes-progress-board-diversityDiNapoli: New State Funds Open Door for MTA to Ease Debt, Build Stronger Future Budgets
… New sources of recurring revenue in the state’s final budget and other aid, including expected … Ensuring stronger finances down the road will depend in part on how the MTA chooses to manage debt in the coming years. “The MTA received the State funding it …
https://www.osc.ny.gov/press/releases/2023/05/dinapoli-new-state-funds-open-door-mta-ease-debt-build-stronger-future-budgetsPublic-Private Partnerships Potentially a "Good Option" but Financial Risks for Taxpayers Must Be Addressed
… cost-effective solutions for its estimated $250 billion in infrastructure needs over the next 20 years, the state … infrastructure needs a lot of improvements - $250 billion in improvements over the next 20 years,” DiNapoli said. “The … to look at public-private partnerships based on experience in other states, but we have to ensure public assets are not …
https://www.osc.ny.gov/press/releases/2011/01/public-private-partnerships-potentially-good-option-financial-risks-taxpayers-must-be-addressedDiNapoli Releases Analysis of State Financial Plan
… After two years of extraordinary volatility in state finances, the State Fiscal Year (SFY) 2022-23 … on or ahead of schedule may help prevent disruptions in critical programs and services.” Financial Plan Overview The DOB Financial Plan projects disbursements in SFY 2022-23 of $222.2 billion from All Funds, including …
https://www.osc.ny.gov/press/releases/2022/07/dinapoli-releases-analysis-state-financial-planXIV.5 Employee Award Programs – XIV. Special Procedures
… award programs and the requirements of the Office of the State Comptroller (OSC) for approving payment for these types … Code must be reported as taxable income to the recipient on the PayServ system. In addition, cash and cash-equivalent …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xiv/xiv5-employee-award-programsDiNapoli: Federal Aid, Increasing Tax Revenues and Savings Boost New York City's Surplus
… City is expecting to generate a surplus of $3.7 billion in fiscal year (FY) 2022 due to federal aid, … to DiNapoli’s analysis. “Strong revenue, a rebound in property values, and the restart of the city’s Program to … Gap (PEG) will help produce significant recurring savings in the next few years and should help buffer the city from …
https://www.osc.ny.gov/press/releases/2022/03/dinapoli-federal-aid-increasing-tax-revenues-and-savings-boost-new-york-citys-surplusXI.2.K Authorized Signatures – XI. Procurement and Contract Management
… or of a division, board, body, bureau, officer or employee in a department, for personal services, maintenance and … of the department, or by such authority or authorities in the department as shall be designated by the head of the … if they have questions concerning the adequacy of controls in place. Process and Document Preparation: If the department …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xi/xi2k-authorized-signaturesXII.3 Record Retention – Accounts Payable Vouchers and Land Claims – XII. Expenditures
… payments for the purchase of land, agencies must maintain all original documentation related to the purchase. Agencies … to its internal needs as well as laws and regulations. All documentation in support of the payment must be retained …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii3-record-retention-accounts-payable-vouchers-and-land-claimsOversight of New York State Forest Tax Programs
… and landowners are adhering to requirements to assist in the protection of the environmental benefits of the … of both healthy forests and a stable forest economy, in 1974 New York enacted Real Property Tax Law 480a – a tax … qualifying private forest landowners. Forest land enrolled in the 480a Program receives an annual property tax exemption …
https://www.osc.ny.gov/state-agencies/audits/2022/04/20/oversight-new-york-state-forest-tax-programsNYS Comptroller DiNapoli Prohibits New Russian Investments and Directs Investment Review
… has directed staff to prohibit all new investments in Russian companies and to review the New York State Common … “While American sanctions already prohibit investments in many Russian companies, I believe it is prudent to freeze purchases in all Russian companies due to the situation’s …
https://www.osc.ny.gov/press/releases/2022/03/nys-comptroller-dinapoli-prohibits-new-russian-investments-and-directs-investment-reviewDiNapoli: Orange County Resident Arrested for Stealing Her Late Mother’s Pension Benefits
… of Middletown, was arrested and charged with grand larceny in the second degree (Class C Felony) for allegedly stealing … I applaud Comptroller DiNapoli and his staff for aiding in this investigation and maintaining the integrity of the … my office and the Office of the New York State Comptroller in protecting public funds,” Orange County District Attorney …
https://www.osc.ny.gov/press/releases/2021/06/dinapoli-orange-county-resident-arrested-stealing-her-late-mothers-pension-benefitsDiNapoli: Financial Plan Outlook Has Improved; State Should Now Commit to Further Increasing Reserves
… 180,000 contracts, billions in state payments and public authority data. Visit the Reading Room for contract FOIL …
https://www.osc.ny.gov/press/releases/2021/06/dinapoli-financial-plan-outlook-has-improved-state-should-now-commit-further-increasing-reserves