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How Contribution Rates Are Determined – What Every Employer Should Know
… pay benefits as they become due using demographic (rates of employee mortality, disability, turnover and retirement) … all current and future benefits (actuarial liabilities). Some of the factors used to determine the value of future … salary and service amounts Probabilities of disability, withdrawal and retirement Life expectancies Inflation for …
https://www.osc.ny.gov/retirement/employers/partnership/how-contribution-rates-are-determinedAudit of the Tuition Assistance Program at Pratt Institute
… complied with the Education Law (Law) and the Commissioner of Education's Rules and Regulations (Regulations) when … Proctor Art Institute in Utica and the Delaware College of Art and Design in Wilmington, Delaware. Pratt serves … totaling $3.9 million that were paid to Pratt on behalf of 803 students. We reviewed a sample of 50 randomly selected …
https://www.osc.ny.gov/state-agencies/audits/2014/05/16/audit-tuition-assistance-program-pratt-instituteState Agencies Bulletin No. 990
… Purpose To provide agencies with instructions to pay the Firearms Training and Safety … proficiency and safety. Effective Date(s) Immediately Contract Provisions and Eligibility Criteria The PEF …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/990-pef-firearms-training-and-safety-incentive-programMTA-NYC Transit Medical Assessment Centers
… as $86.28 at a depot that paid for three hours at regular pay. We determined that employees were not always assigned to …
https://www.osc.ny.gov/state-agencies/audits/2014/11/10/mta-nyc-transit-medical-assessment-centersOpinion 95-21
… rendered. The opinion may no longer represent those views if, among other things, there have been subsequent court … hearing to consolidate (19 Opns St Comp, 1963, p 64). If a proper petition is filed, however, the town board … "shall" call a public hearing ( id .). In either case, if the town board, after the public hearing, determines that …
https://www.osc.ny.gov/legal-opinions/opinion-95-21Town of Fishkill – Fiscal Stress (2013M-188)
… Town’s year-end fund balance for its five major operating funds, combined, was in a $2.2 million deficit at the end of … expenses, Town officials loaned moneys between multiple funds, resulting in $10.3 million of outstanding interfund … of 2012. The Town did not use nearly $782,000 in donated funds as stipulated by the donors, but instead applied these …
https://www.osc.ny.gov/local-government/audits/town/2013/09/16/town-fishkill-fiscal-stress-2013m-188Village of Clyde – Financial Management and Board Oversight (2013M-96)
… the appropriate level of fund balance to be retained at year end. Develop long-term financial and capital plans. … of fund balance to be appropriated and used in the ensuing year’s budget. Use the unexpended surplus fund balance in the …
https://www.osc.ny.gov/local-government/audits/village/2013/08/16/village-clyde-financial-management-and-board-oversight-2013m-96Town of Bridgewater – Financial Operations (2013M-309)
… operations for the period January 1, 2012 through March 31, 2013. Background The Town of Bridgewater is located … but has not provided sufficient oversight. As a result, the manual and computerized accounting records …
https://www.osc.ny.gov/local-government/audits/town/2013/12/20/town-bridgewater-financial-operations-2013m-309DiNapoli: State Tax Revenues $3 Billion Below Last Year
… through the first eight months of the state fiscal year were $3 billion lower than last year, according to the monthly State Cash Report released by … of November totaled $4.3 billion, $52.5 million above last year and $806.7 million higher than the projection in DOB’s …
https://www.osc.ny.gov/press/releases/2020/12/dinapoli-state-tax-revenues-3-billion-below-last-yearTown of Sidney – Budget Review (B4-14-19)
… lease payments for which no lease agreement exists. As a result, the Town underestimated rental revenue by a total of …
https://www.osc.ny.gov/local-government/audits/town/2014/11/04/town-sidney-budget-review-b4-14-19DiNapoli: Mount Vernon Officials Failed to Establish Basic and Routine Financial Policies
… The scope of the audit covered January 1, 2018, to March 31, 2020. Full Audit: City of Mount Vernon Financial …
https://www.osc.ny.gov/press/releases/2020/09/dinapoli-mount-vernon-officials-failed-establish-basic-and-routine-financial-policiesTown of Scio – Highway Fund Financial Condition and Records and Reports (2013M-279)
… Purpose of Audit The purpose of our audit was to review the Town’s financial operations … 1, 2012 through August 12, 2013. Background The Town of Scio is located in Allegany County. The elected …
https://www.osc.ny.gov/local-government/audits/town/2014/02/14/town-scio-highway-fund-financial-condition-and-records-and-reports-2013m-279NYS Common Retirement Fund Reports Second Quarter Results
… The New York State Common Retirement Fund’s (Fund) estimated return in the … straight quarter of strong investment returns raised the pension fund’s estimated value to a new high,” DiNapoli said. … requested data. … The New York State Common Retirement Funds Fund estimated return in the second quarter of the …
https://www.osc.ny.gov/press/releases/2020/11/nys-common-retirement-fund-reports-second-quarter-resultsMedicaid Program – Accuracy of Medicaid Eligibility Determined by NY State of Health
… Objective To determine whether NY State of Health (NYSOH, New York’s online health plan … 1, 2014 through February 28, 2020. About the Program The Department of Health (Department) administers New York’s …
https://www.osc.ny.gov/state-agencies/audits/2020/09/17/medicaid-program-accuracy-medicaid-eligibility-determined-ny-state-healthDiNapoli: Local Sales Tax Collections Drop 8.2 Percent in July
… July 2019, the decline is less steep than any month since March, when the COVID-19 pandemic began to affect sales tax … than the 46 percent ($375 million) decrease seen in June, this represents another month where the city’s sales … July), local governments have received $1.4 billion (18.7 percent) less than they did during the same period in …
https://www.osc.ny.gov/press/releases/2020/08/dinapoli-local-sales-tax-collections-drop-82-percent-julyExamples from GASB Statement 34 - Sample City Statement of Net Assets Proprietary Funds
… debt 72,728,293 360,281 73,088,574 8,690,746 Restricted for debt service 1,451,996 1,451,996 Unrestricted … as proprietary funds, the nature of the activity accounted for in them is generally governmental. By reporting internal … funds separately from the proprietary funds that account for business-type activities, the information in the "Totals" …
https://www.osc.ny.gov/local-government/publications/examples-gasb-statement-34Travel Advisory No. 15
… employees may be required to sign a certification form such as the AC 132-S , Employee Report of Travel Expenses and Claim for Payment. This form can either be submitted to a proxy for processing, or …
https://www.osc.ny.gov/state-agencies/advisories/travel-advisory/15-covid-19-travel-and-expense-temporary-exceptionsCity of Troy – Budget Review (B19-5-8)
… [read complete report - pdf] Purpose of Budget Review The purpose of our budget review was to determine whether the significant … the 2020 fiscal year are reasonable. Background The City of Troy, located in Rensselaer County, is authorized to issue …
https://www.osc.ny.gov/local-government/audits/city/2019/11/07/city-troy-budget-review-b19-5-8Village of Westbury – Purchasing, Claims Audit and Information Technology (2013M-301)
… internal controls over selected financial operations for the period June 1, 2011 through November 30, 2012. … expenditures totaled about $6.8 million and $7.4 million for the 2011-12 and 2012-13 fiscal years, respectively. Key … procurement policy. The Board does not review claims for payment; instead, one Trustee is appointed as …
https://www.osc.ny.gov/local-government/audits/village/2014/01/24/village-westbury-purchasing-claims-audit-and-information-technology-2013m-301DiNapoli Statement on Amazon's Agreement to Conduct an Independent Racial Equity Audit
… to prioritize and examine its impacts on racial equity is a major step forward in ensuring equal opportunities and … understand that fostering diversity, equity, and inclusion is good for business. As support for civil rights and racial … and services may impact racial equity. I hope this is just a first step for Amazon as it looks more broadly at …
https://www.osc.ny.gov/press/releases/2022/04/dinapoli-statement-amazons-agreement-conduct-independent-racial-equity-audit