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The New York State Dedicated Highway and Bridge Trust Fund: At a Crossroads
The creation of the Dedicated Highway and Bridge Trust Fund in 1991 reflected a recognition that critical transportation infrastructure should be funded on a consistent, reliable basis by investing resources today for the long-term good of the State.
https://www.osc.ny.gov/files/reports/pdf/new-york-state-dedicated-highway-and-bridge-trust-fund-crossroads.pdfReport on the Joint Investigation of the Orange County Industrial Development Agency
A joint investigation by the Orange County District Attorney’s Office, the New York State Comptroller’s Office, and the New Windsor Police Department revealed institutionalized corruption in the administration of the Orange County Industrial Development Agency’s Accelerator Program.
https://www.osc.ny.gov/files/reports/pdf/joint-investigation-orange-co-ida.pdfDiNapoli: NYC Finances Strong But Slowing Economy Presents Risks
… out-year budget gaps are relatively small, but the risk of an economic slowdown is growing, according to a report … DiNapoli. “Strong job growth, combined with record numbers of tourists and a robust real estate market, has pushed tax … budget gap has grown by $372 million since the beginning of the fiscal year to $2.3 billion, but the FY 2019 budget …
https://www.osc.ny.gov/press/releases/2016/02/dinapoli-nyc-finances-strong-slowing-economy-presents-risksComptroller DiNapoli and A.G. Schneiderman Announce Sentencing of Former Met Council Insurance Brokers
… (“Met Council”), each have been sentenced to five years of probation and will each pay $1.5 million in restitution to Met Council. As part of their sentence, they will also surrender their broker’s licenses to the New York State Department of Financial Services. The joint investigation revealed that …
https://www.osc.ny.gov/press/releases/2015/02/comptroller-dinapoli-and-ag-schneiderman-announce-sentencing-former-met-council-insurance-brokersDiNapoli: Many SUNY Campus Foundations Operating Without Contracts or Proper Oversight
… operating without the contracts they are required to have with their campuses while overseeing and managing billions in … by SUNY in at least 10 years. "We found numerous problems with SUNY's oversight of its campus foundations. SUNY does … State-operated campuses are authorized to contract with foundations, which are private, not-for-profit …
https://www.osc.ny.gov/press/releases/2018/02/dinapoli-many-suny-campus-foundations-operating-without-contracts-or-proper-oversightDiNapoli Announces $2B Strategic Partnership With Goldman Sachs Asset Management For Global Equity Investments
… the Fund) has created a $2 billion strategic partnership with Goldman Sachs Asset Management (GSAM) to invest in a … Additionally, the partnership will provide the Fund with improved analytics and reporting on its portfolio and … Officer of the Fund. “Working closely and creatively with GSAM’s team and their resources will extend the reach of …
https://www.osc.ny.gov/press/releases/2014/09/dinapoli-announces-2b-strategic-partnership-goldman-sachs-asset-management-global-equity-investmentsDiNapoli: Funds Dedicated for Highway & Bridge Capital Projects Continue to be Diverted for Operating and Debt Costs
… Highway and Bridge Trust Fund continues to be diverted for non-capital purposes, leaving critical highway and bridge … than three-quarters of this money is siphoned off to pay for borrowing and operating costs of state agencies, leaving fewer dollars for improving our infrastructure,”DiNapoli said. “While the …
https://www.osc.ny.gov/press/releases/2014/02/dinapoli-funds-dedicated-highway-bridge-capital-projects-continue-be-diverted-operating-and-debtDiNapoli: MTA Capital Funding Gap May Exceed $12 Billion
… The Metropolitan Transportation Authority (MTA) has made significant progress in repairing and modernizing the regional transit system, but a great deal of work remains … The Metropolitan Transportation Authority has made …
https://www.osc.ny.gov/press/releases/2014/07/dinapoli-mta-capital-funding-gap-may-exceed-12-billionDiNapoli: $10 Million Ponzi Scheme Unraveled Following Nassau County District Attorney Investigation
… alleged collaborator, a financial advisor from Syosset, for allegedly scamming at least 40 people – many seniors – … and the United States Postal Inspection Service for their continued partnership and diligence in exposing … said that beginning in January 2015, an elderly victim for whom Eckstein worked as a personal accountant and …
https://www.osc.ny.gov/press/releases/2018/09/dinapoli-10-million-ponzi-scheme-unraveled-following-nassau-county-district-attorney-investigationDiNapoli: Oil Spill Fund Reaches New Agreements With St. Lawrence County
… remediation must occur. "By working hand-in-hand with local government officials, my office can help turn … of these agreements continue to pay long-term dividends for residents of the North Country." The Oil Spill Fund, which is administered by DiNapoli's office in coordination with the …
https://www.osc.ny.gov/press/releases/2018/08/dinapoli-oil-spill-fund-reaches-new-agreements-st-lawrence-countyDiNapoli: State Tax Collections Lagging Last Year by $1.2 Billion
… tax collections totaled $18.6 billion in the first quarter of the new fiscal year, $1.2 billion less than the same … year and personal income tax collections are falling short of what was expected," DiNapoli said. "Taxpayer anticipation of federal tax changes has contributed to the decline. …
https://www.osc.ny.gov/press/releases/2017/07/dinapoli-state-tax-collections-lagging-last-year-12-billionDiNapoli: School District Revenue Growth Slows
… today by State Comptroller Thomas P. DiNapoli. The report is part of DiNapoli’s fiscal stress initiative which is … are caught in a financial bind and are struggling for a way out,” said DiNapoli. “State and federal aid have … 50,000 state contracts, visit http://www.openbooknewyork.com/ . The easy-to-use website was created by Comptroller …
https://www.osc.ny.gov/press/releases/2014/01/dinapoli-school-district-revenue-growth-slowsDiNapoli: State Contractor Failed to Pay Prevailing Wages
… A state Office of Mental Health (OMH) contractor hired to provide janitorial … contractor unconscionably cheated disabled employees out of thousands of dollars. OMH needs to take immediate action to make sure … A state Office of Mental Health OMH contractor hired to provide janitorial …
https://www.osc.ny.gov/press/releases/2014/10/dinapoli-state-contractor-failed-pay-prevailing-wagesState Pension Employer Contribution Rates Announced for 2020-21, Assumed Rate of Return Lowered
… year, for the past seven years, we’ve been able to lower pension contribution rates or essentially keep them flat,” … management and a diverse portfolio we have kept the state pension fund strong and one of the best funded in the nation. … the preparation of their budgets. Projections of required contributions vary by employer depending on factors such as …
https://www.osc.ny.gov/press/releases/2019/08/state-pension-employer-contribution-rates-announced-2020-21-assumed-rate-return-loweredNYC Budget Is Balanced but Risks Are Growing
… The New York City Mayor’s preliminary executive budget for FY 2020 is balanced, but there are risks, including proposed drops in … in FY 2023. The gaps reflect the cost of wage increases for the municipal work force, higher costs for debt service … The New York City Mayors preliminary executive budget for FY 2020 is balanced but there are risks including …
https://www.osc.ny.gov/press/releases/2019/03/nyc-budget-balanced-risks-are-growingPension Fund Makes Progress on Board Diversity
… identity, among other factors, in its considerations when seeking diverse board candidates. GoPro agreed to amend its … in our portfolio to adopt more inclusive practices in seeking board candidates." GoPro's Nominating and Governance … identity among other factors in its considerations when seeking diverse board candidates …
https://www.osc.ny.gov/press/releases/2017/03/pension-fund-makes-progress-board-diversityState Agencies Bulletin No. 2271
… Purpose: The purpose of this bulletin is to inform agencies of the procedures and provide instructions for reporting the taxable value of personal use of an employer-provided vehicle and chauffeur … The purpose of this bulletin is to inform agencies of the procedures and …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2271-procedures-reporting-taxable-value-personal-use-employer-providedDiNapoli: Coney Island and Brighton Beach Jobs Doubled Over Last Decade
… Beach, 49% identified as white, 19% as Hispanic, 15% as Black and 13% as Asian. Immigrants made up 49.8% of the …
https://www.osc.ny.gov/press/releases/2024/09/dinapoli-coney-island-and-brighton-beach-jobs-doubled-over-last-decadeHousing Trust Fund Corporation – Oversight of the Rural Rental Assistance Program
… Rural Rental Assistance Program (RRAP) payments only for eligible units and are properly maintaining the units for which they receive RRAP payments, and whether the Housing Trust Fund Corporation (HTFC) is engaging in adequate outreach activities to make sure the …
https://www.osc.ny.gov/state-agencies/audits/2024/12/20/housing-trust-fund-corporation-oversight-rural-rental-assistance-programDiNapoli: More School Districts Take Initial Steps to Exceed Tax Cap
… relatively small, according to preliminary data filed with the office of State Comptroller Thomas P. DiNapoli. As … cap, this year’s limit seems to have left some districts with limited options. As school budget planning continues … to the lesser of the rate of inflation or 2 percent with certain exceptions, including a provision that allows …
https://www.osc.ny.gov/press/releases/2016/03/dinapoli-more-school-districts-take-initial-steps-exceed-tax-cap