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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.pdfDiNapoli: MTA Capital Funding Gap May Exceed $12 Billion
… that could have been used to modernize the system. For example, East Side Access is now projected to cost $10.7 … Funding the capital program has been an ongoing challenge for the MTA. Consequently, transit assets that the MTA had … committee is expected to examine priorities and financing for the next capital program. The federal government is the …
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
… of these agreements continue to pay long-term dividends for residents of the North Country." The Oil Spill Fund, … (DEC) and the Office of the Attorney General (OAG), pays for the cleanup of petroleum contamination when the parties … and Spill Compensation Fund is reaping great benefits for our communities," said St. Lawrence County Board of …
https://www.osc.ny.gov/press/releases/2018/08/dinapoli-oil-spill-fund-reaches-new-agreements-st-lawrence-countyDiNapoli: Funds Dedicated for Highway & Bridge Capital Projects Continue to be Diverted for Operating and Debt Costs
… and bridges in good repair. Now, more 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 … transportation infrastructure and should restore the use of this fund for capital purposes.” Created in 1991, the fund …
https://www.osc.ny.gov/press/releases/2014/02/dinapoli-funds-dedicated-highway-bridge-capital-projects-continue-be-diverted-operating-and-debtDiNapoli: NYC Finances Strong But Slowing Economy Presents Risks
… Mayor de Blasio released his preliminary executive budget for fiscal year (FY) 2017 and a financial plan for FY 2016 through FY 2020. The city projects a $2.3 billion surplus for FY 2016, which will be used to balance the FY 2017 …
https://www.osc.ny.gov/press/releases/2016/02/dinapoli-nyc-finances-strong-slowing-economy-presents-risksState Pension Employer Contribution Rates Announced for 2020-21, Assumed Rate of Return Lowered
… as the previous year for the Employees’ Retirement System (ERS) with a small increase in rates for the Police and Fire … The estimated average employer contribution rate for ERS will remain at 14.6 percent of payroll. The estimated …
https://www.osc.ny.gov/press/releases/2019/08/state-pension-employer-contribution-rates-announced-2020-21-assumed-rate-return-loweredDiNapoli: Many SUNY Campus Foundations Operating Without Contracts or Proper Oversight
… to contract with foundations, which are private, not-for-profit corporations, to support fundraising efforts, real … that ends June 30 and found that in addition to a state salary, 20 were paid nearly $1.8 million by UBF. Four of … and UBF. For example, one individual received a state salary of $351,438 while also receiving $308,453 from the …
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
… Fund’s return. The partnership is the first of its kind for the Fund. “This innovative partnership gives the New York … Strategic Partnership with CRF is a landmark assignment for GSAM and we appreciate the confidence CRF has placed in …
https://www.osc.ny.gov/press/releases/2014/09/dinapoli-announces-2b-strategic-partnership-goldman-sachs-asset-management-global-equity-investmentsDiNapoli: State Tax Collections Lagging Last Year by $1.2 Billion
… approximately $3.1 billion or 8.3 percent higher than for the same period last year. Significant increases include spending for Medicaid (up $1.6 billion primarily from federal sources) …
https://www.osc.ny.gov/press/releases/2017/07/dinapoli-state-tax-collections-lagging-last-year-12-billionDiNapoli: School District Revenue Growth Slows
… are caught in a financial bind and are struggling for a way out,” said DiNapoli. “State and federal aid have … DiNapoli’s report also noted: Local school tax levy increases have decreased sharply over the past decade, averaging 2.8 percent increases per year in the past five years; Annual local …
https://www.osc.ny.gov/press/releases/2014/01/dinapoli-school-district-revenue-growth-slowsDiNapoli: State Contractor Failed to Pay Prevailing Wages
… “New York state law requires contractors working for the state to pay the prevailing wage rates and fringe benefits set for the locality where the work is performed, but my auditors … workers.” Shorefront Mental Health Board provides support for treatment and transition programs of the South Beach …
https://www.osc.ny.gov/press/releases/2014/10/dinapoli-state-contractor-failed-pay-prevailing-wagesNYC 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 … $3.3 billion in FY 2023. The gaps reflect the cost of wage increases for the municipal work force, higher costs for debt … in 2022. The gaps remain even after planned fare and toll increases of 4 percent in 2019 and 2021. In addition, the MTA …
https://www.osc.ny.gov/press/releases/2019/03/nyc-budget-balanced-risks-are-growingDiNapoli: Former Morley Fire Company Treasurer Ordered to Pay $50,000 for Theft of Public Funds
… P. DiNapoli today announced that the former treasurer of the Morley Volunteer Fire Co., Cindi Perkins, was … with the money. Perkins was sentenced in St. Lawrence County Court by Judge Gregory P. Storie. Since taking office in …
https://www.osc.ny.gov/press/releases/2024/01/dinapoli-former-morley-fire-company-treasurer-ordered-pay-50000-theft-public-fundsDiNapoli: New State Funds Open Door for MTA to Ease Debt, Build Stronger Future Budgets
… a safe, reliable and on-time transit system.” The state’s increase in the payroll mobility tax will provide the MTA … $1.8 billion more (58% higher) than in 2022. Much of this increase is expected to be funded by the capital lockbox, …
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
… As New York state grapples with cost-effective solutions for its estimated $250 billion in infrastructure needs over … said. “The big question is, how are we going to pay for that? Public-private partnerships are a good option to … with unwarranted costs such as excessive fees and toll increases. Unrealistic expectations and poorly drafted …
https://www.osc.ny.gov/press/releases/2011/01/public-private-partnerships-potentially-good-option-financial-risks-taxpayers-must-be-addressedState Agencies Bulletin No. 2059
… Purpose: The purpose of this bulletin is to inform agencies of the procedures and … the ALV method was used in the previous three (3) years. Cost of any Charges Incurred During Personal Usage Officers …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/2059-procedures-reporting-taxable-value-personal-use-employer-providedOpinion 92-46
… CONTRACTS -- Bidding Monetary Threshold (computation of for various items used at youth center) GENERAL MUNICIPAL … youth center need not be aggregated with each other for the purpose of determining whether the competitive … village youth center should be considered in the aggregate for purposes of determining the competitive bidding monetary …
https://www.osc.ny.gov/legal-opinions/opinion-92-46Former Head of Niagara Falls Housing Authority Pleads Guilty to Stealing Government Funds; Son and Daughter-in-Law Also Convicted
… and Urban Development's Inspector General, and the FBI for their diligent work in the fight against public … support and charity-oriented philanthropic initiatives for residents in Niagara County. Allen and Fredia Cowart, on … October 1, 2013 for the duration of the school year. The salary associated with this appointment was $23 an hour. …
https://www.osc.ny.gov/press/releases/2017/12/former-head-niagara-falls-housing-authority-pleads-guilty-stealing-government-funds-son-and-daughterOpinion 92-33
… PARK DISTRICTS -- Powers and Duties (expenditures for promotional services) LOCAL LAWS -- Pre-emption (special … Services (promotional and publicity services); (procedures for obtaining) -- Contracts Not Requiring Bidding (promotional and publicity services); (procedures for obtaining) TOWN LAW, §64(14)(a): A town board by …
https://www.osc.ny.gov/legal-opinions/opinion-92-33