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EcoNews Spring 2021
This edition of EcoNews provides more detail on our work at the Fund to address the investment risks posed by climate change and to take advantage of opportunities to invest in climate solutions.
https://www.osc.ny.gov/files/reports/special-topics/pdf/econews-spring-2021.pdfCVS Health – Accuracy of Drug Rebate Revenue Remitted to the Department of Civil Service (Follow-Up) (2020-F-23) 30-day response
To determine the extent of implementation of the five recommendations included in our initial audit report, CVS Health – Accuracy of Drug Rebate Revenue Remitted to the Department of Civil Service (Report 2016-S-41).
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2021-20f23-response.pdfTown of Wappinger – Recreation Department Cash Receipts (2020M-130)
Determine whether Town of Wappinger (Town) officials developed adequate controls to ensure Recreation Department (Department) cash collected is accurately recorded and deposited timely and intact (in the same amount and form as received).
https://www.osc.ny.gov/files/local-government/audits/2021/pdf/wappinger-2020-130.pdfAll-Agency Contract Evaluation System (2019-S-14)
To determine whether Metropolitan Transportation Authority Capital Construction is monitoring and evaluating its contractors/consultants in compliance with its All-Agency Contract Evaluation review process and taking action where performance ratings are less than satisfactory.
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2021-19s14.pdfCVS Health – Accuracy of Drug Rebate Revenue Remitted to the Department of Civil Service (Follow-Up) (2020-F-24) 30-Day Response
To determine the extent of implementation of the six recommendations included in our initial audit report, CVS Health – Accuracy of Drug Rebate Revenue Remitted to the Department of Civil Service (Report 2018-S-50).
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2021-20f24-response.pdfAdministration of Mitchell-Lama Waiting Lists (Follow-Up) (2020-F-19) 30-Day Response
To follow up on the actions taken by the Division of Housing and Community Renewal to implement the recommendations contained in our prior audit report, Administration of Mitchell-Lama Waiting Lists (Report 2016-S-46).
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2021-20f19-response.pdfMedicaid Program: Recovering Managed Care Overpayments for Pharmacy Services on Behalf of Recipients With Third-Party Health Insurance (Follow-Up) (2023-F-27) 30-Day Response
To determine the extent of implementation of the six recommendations included in our initial audit report, Medicaid Program: Recovering Managed Care Overpayments for Pharmacy Services on Behalf of Recipients With Third-Party Health Insurance.
https://www.osc.ny.gov/files/state-agencies/audits/pdf/sga-2024-23f27-response.pdfFiscal Stress Monitoring System Briefing for School District Officials
Presenters will provide an overview of how the system evaluates fiscal stress, what a change in score or designation does or does not signify, and common issues that appear to be affecting school districts.
https://www.osc.ny.gov/files/local-government/academy/pdf/fsms-schools-010825.pdfUnified Court System Bulletin No. UCS-290.1
… is to inform agencies of OSC’s automatic processing of the retroactive April 2020 UCS Salary Increases and provide instructions for payments not processed …
https://www.osc.ny.gov/state-agencies/payroll-bulletins/unified-court-system/ucs-2901-april-2020-state-new-york-unified-court-system-retroactiveDiNapoli Releases Analysis of State Budget Financial and Capital Plans
… projects healthy growth in tax receipts and federal aid for the current fiscal year, but raises concerns about … will help the state avoid spending reductions or tax increases when it inevitably faces the next economic … over the current and next four fiscal years, including increases in housing, transportation and education. The total …
https://www.osc.ny.gov/press/releases/2019/07/dinapoli-releases-analysis-state-budget-financial-and-capital-plansDiNapoli Announces New Technology Investment Through Contour Venture Partners
… Fund has partnered with Contour Venture Partners for a total of twenty investments through the In-State … opportunities are proof that the program is a win for the Fund and a win for companies in communities around the state.” "This …
https://www.osc.ny.gov/press/releases/2014/01/dinapoli-announces-new-technology-investment-through-contour-venture-partnersNYS Common Retirement Fund Announces Third Quarter Results
… of the Fund’s 2015-2016 fiscal year was 2.88 percent for the three-month period ending Dec. 31, 2015, according to … and provide sustainable returns and retirement security for generations to come.” The Fund's estimated value … quarter of the Funds 20152016 fiscal year was 288 percent for the threemonth period ending Dec 31 2015 according to New …
https://www.osc.ny.gov/press/releases/2016/02/nys-common-retirement-fund-announces-third-quarter-resultsDiNapoli Releases July State Cash Report
… State income tax collections increased $88.2 million in July from a year earlier, helping lift the state’s total … Comptroller Thomas P. DiNapoli. "July was the first month in this fiscal year that personal income tax collections … from the prior month. The cash report focuses primarily on the General Fund and All Governmental Funds. The General …
https://www.osc.ny.gov/press/releases/2017/08/dinapoli-releases-july-state-cash-reportNYS Common Retirement Fund Announces First Quarter Results
… is the third largest public pension plan in the nation with an audited value of $207.4 billion in assets (as of …
https://www.osc.ny.gov/press/releases/2018/08/nys-common-retirement-fund-announces-first-quarter-resultsDiNapoli: Special Education Contractor Convicted for $2 Million Fraud
… by New York State Comptroller Thomas P. DiNapoli and U.S. Attorney for the Southern District Preet Bharara, was … money for their personal benefit. I’d like to thank U.S. Attorney Bharara for prosecuting this crime and working with … . DiNapoli referred the findings to United States Attorney Bharara’s office and worked to prosecute Park and …
https://www.osc.ny.gov/press/releases/2014/09/dinapoli-special-education-contractor-convicted-2-million-fraudDiNapoli: Public Authority Debt Ballooned to $329 Billion
… an outsized impact in New York where they are responsible for a wide range of public functions, particularly in the … of $78.3 billion. State authorities alone accounted for $49.5 billion in spending, equivalent to nearly … billion or 55.7%) of their debt was revenue debt issued for authority purposes, $68 billion (20.7%) was issued for …
https://www.osc.ny.gov/press/releases/2022/12/dinapoli-public-authority-debt-ballooned-329-billionDiNapoli: State Tax Receipts Higher Than Updated Projections Through the First Half of the Year
… State tax receipts totaled $51.5 billion through the first six months of State Fiscal Year (SFY) 2023-24, $1.7 billion higher than … However, tax receipts were $6.9 billion lower than the first half of SFY 2022-23, according to the monthly State …
https://www.osc.ny.gov/press/releases/2023/10/dinapoli-state-tax-receipts-higher-updated-projections-through-first-half-yearAudit of ESDC Finds Few Measurable Results for $211 Million State Advertising Contract
… Thomas P. DiNapoli. “When government spends hundreds of millions of taxpayer dollars to send a message that New York is a place to visit and open for business, it should have … to auditors, are included in the audit. DiNapoli’s office is also currently auditing the Excelsior Jobs program, which …
https://www.osc.ny.gov/press/releases/2015/05/audit-esdc-finds-few-measurable-results-211-million-state-advertising-contractXI.4 Overview – XI. Procurement and Contract Management
… by ensuring that critical services are provided. Not-for-profit entities generally provide these services. … of these agreements, including delineation of requirements for the assessment, suspension or waiver of interest … related to grant contracting, specifically: Not-for-Profit Prompt Contracting Standard Contract Language for …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xi/xi4-overviewDiNapoli: Money Earmarked for Highway and Bridge Infrastructure Siphoned Off
… down debt from past projects and cover the operating costs for state agencies, according to a report by New York State … shows the problems have gotten worse. DHBTF spending for capital projects declined between state fiscal year (SFY) … aside to build or repair roads and bridges is being used for new capital projects by the state,” DiNapoli said. “It is …
https://www.osc.ny.gov/press/releases/2022/01/dinapoli-money-earmarked-highway-and-bridge-infrastructure-siphoned-off