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Groton Central School District – Cash Management (2020M-124)
… another $367,963 if officials invested available funds in a financial institution that offered higher interest … action. Appendix B includes our comments on issues raised in the District’s response letter. … Determine whether Groton …
https://www.osc.ny.gov/local-government/audits/school-district/2021/01/29/groton-central-school-district-cash-management-2020m-124Revenue Enhancement Ideas: Cash Management for Local Governments and School Districts
… and other balances that could be invested longer term in investments allowable by law. Accelerate Collection and Depositing of Receipts … to maximize interest and minimize fees. Legal Requirements Public moneys must be deposited and invested in accordance …
https://www.osc.ny.gov/local-government/publications/revenue-enhancement-ideas-cash-management-local-governments-and-school-districtsDiNapoli Releases Climate Action Plan
… and invest the assets of the $210 billion New York State Common Retirement Fund (Fund). The plan lays out a path for … most significant risks facing investors and the warnings are growing increasingly dire,” DiNapoli said. “The Fund has …
https://www.osc.ny.gov/press/releases/2019/06/dinapoli-releases-climate-action-planLeading the Way on Climate Investment
… risk, please see the 2024 Progress Report on the New York State Common Retirement Fund’s Climate Action Plan. … Climate Action Plan Decarbonization Advisory Panel Report New York State Pension Fund Sets 2040 Net Zero Carbon …
https://www.osc.ny.gov/common-retirement-fund/leading-way-climate-investmentGovernor Cuomo and Comptroller DiNapoli Appoint First-Ever Decarbonization Advisory Panel
… Common Retirement Fund (Fund), on how best to mitigate investment risks stemming from climate change and maximize … on how we can continue our progress in achieving investment returns, while contributing to our emerging … low-carbon economy." The panel, which is comprised of investment, financial, environmental, energy and legal …
https://www.osc.ny.gov/press/releases/2018/03/governor-cuomo-and-comptroller-dinapoli-appoint-first-ever-decarbonization-advisory-panelDiNapoli Expands State Pension Fund's In-State Investment Program
… of the $200 million New York Credit Small Business Investment Company (SBIC) Fund to provide credit financing to … include credit (SBIC), equity (In-State Private Equity Investment Program) and small business loans (New York …
https://www.osc.ny.gov/press/releases/2015/11/dinapoli-expands-state-pension-funds-state-investment-programDiNapoli Announces $500 College Savings Sweepstakes
… expenses. The plan offers three age-based investment options that become more conservative over time. In addition, … manage their own investment strategy. While parents make up the largest share of account owners, anyone can open a 529 … New York state taxpayers who are account owners can deduct up to $5,000 from New York state taxable income ($10,000 for …
https://www.osc.ny.gov/press/releases/2015/05/dinapoli-announces-500-college-savings-sweepstakesDiNapoli: Independent Review Finds State Pension Fund Strong, but Warns of Risks Posed by Limited Staffing
… conflict of interest review of the New York State Common Retirement Fund (Fund) that commended the Fund for its strong … taking office, I have sought to establish our state’s pension fund as a leader in transparency, ethics and … The analysis also concluded that: “While the Fund is currently well-managed, compared to most peers it remains …
https://www.osc.ny.gov/press/releases/2016/07/dinapoli-independent-review-finds-state-pension-fund-strong-warns-risks-posed-limited-staffingState Comptroller DiNapoli Statement on Expansion of Geneva-Based RealEats into New Facility
… created with fresh food from the Finger Lakes,” New York State Comptroller Thomas P. DiNapoli said. “The state pension fund has invested nearly $8 million in RealEats …
https://www.osc.ny.gov/press/releases/2022/06/state-comptroller-dinapoli-statement-expansion-geneva-based-realeats-new-facilityDiNapoli Announces Vicki Fuller's Retirement as CIO of NYS Common Retirement Fund
… led the nation as one of the best managed public pension funds. Her legacy and dedication are impressive, but nothing …
https://www.osc.ny.gov/press/releases/2018/05/dinapoli-announces-vicki-fullers-retirement-cio-nys-common-retirement-fundDiNapoli: State Pension Fund Adds $350 Million to Investment Funds Geared to New York Companies
… Fund (Fund) is committing another $350 million to two investment funds through its In-State Private Equity Investment Program, State Comptroller Thomas P. DiNapoli, …
https://www.osc.ny.gov/press/releases/2022/06/dinapoli-state-pension-fund-adds-350-million-investment-funds-geared-new-york-companiesDiNapoli: NYS Pension Fund Commits $1.3 Billion to Sustainable Investment Program
… The New York State Common Retirement Fund (Fund) committed $1.3 billion to two funds as … to a low-carbon economy,” DiNapoli said. “The Fund is a recognized leader in addressing climate-related … State Common Retirement Fund is one of the largest public pension funds in the United States. The Fund holds and …
https://www.osc.ny.gov/press/releases/2023/03/dinapoli-nys-pension-fund-commits-13-billion-sustainable-investment-programState Comptroller DiNapoli Releases Municipal & School Audits
… and best practices. Hammondsport Central School District – Investment Program (Steuben County) The board and district … officials did not develop and manage a comprehensive investment program. From July 1, 2022 through Feb. 29, 2024, … Had officials considered alternative legally permissible investment options, the district may have earned $738,137. …
https://www.osc.ny.gov/press/releases/2024/09/state-comptroller-dinapoli-releases-municipal-school-auditsBrighton Memorial Library – Board Oversight (2015M-116)
… financial institutions. The Board failed to review the bank statements, reconciliations and investment statements. … policy in accordance with General Municipal Law. Review bank and investment statements and their corresponding …
https://www.osc.ny.gov/local-government/audits/library/2015/08/28/brighton-memorial-library-board-oversight-2015m-116St. Lawrence County Industrial Development Agency – Project Approval and Monitoring (2021M-151)
… the 10 projects after approval. Obtain sufficient capital investment information for 10 approved projects to monitor actual vs. proposed investment. Key Recommendations Develop procedures to ensure … employment levels are verified and supported and capital investment information is reported and compared to project …
https://www.osc.ny.gov/local-government/audits/county/2021/12/22/st-lawrence-county-industrial-development-agency-project-approval-and-monitoringDiNapoli Orders Divestment of Russia Holdings
… year ends March 31. Its estimated value as of Dec. 31, 2021 was $279.7 billion. … New York State Comptroller Thomas …
https://www.osc.ny.gov/press/releases/2022/03/dinapoli-orders-divestment-russia-holdingsDiNapoli Encourages New Yorkers to Save for College
… Yorkers investing in the program can contribute and deduct up to $5,000 from their New York State taxable income. Married couples filing jointly can deduct up to $10,000 each year. New York's 529 College Savings … Plan . The Direct Plan offers a broad array of investment options, including individual investment options provided by …
https://www.osc.ny.gov/press/releases/2017/05/dinapoli-encourages-new-yorkers-save-collegeChautauqua County – Investments and Payroll (2016M-147)
… Purpose of Audit The objectives of our audit were to review the County’s investment program and salaries and … includes two cities, 27 towns and 15 villages. The County is governed by a 19-member County Legislature. Budgeted … or General Municipal Law (GML). Not all salary payments to 23 elected officials and 94 management employees were …
https://www.osc.ny.gov/local-government/audits/county/2015/12/23/chautauqua-county-investments-and-payroll-2016m-147City of Olean Housing Authority – Board Oversight (2016M-93)
… of CFP activity. The Board has not adopted a comprehensive investment policy. The Authority does not have a written … firm that assists the Director in managing the Authority’s investment activities. Key Recommendations Establish formal … of the CFP. Develop a written, comprehensive investment policy that, as a minimum, identifies the types of …
https://www.osc.ny.gov/local-government/audits/city/2016/07/29/city-olean-housing-authority-board-oversight-2016m-93Opinion 90-22
… there is no specific statutory authorization for the investment of moneys of others held by a municipality ( cf . General Municipal Law, §11 governing the temporary investment of moneys of municipal corporations), we have … Financial Management Guide, Cash Management and Investment Policies and Procedures, section 2.0060). To …
https://www.osc.ny.gov/legal-opinions/opinion-90-22