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Opinion 89-56
… the opinion. LOCAL LAWS -- Compensation (authority to make incentive payments to employees who report health care … or pursuant to a collective bargaining agreement, for cash incentive payments to employees who identify health care … established a self-insured health insurance plan. As an incentive for employees to help identify charges made by …
https://www.osc.ny.gov/legal-opinions/opinion-89-56DiNapoli: Former Alexandria Town Clerk Pleads Guilty in Theft
… office at the town’s request, in partnership with law enforcement. The investigation and audit found that Peck, …
https://www.osc.ny.gov/press/releases/2016/06/dinapoli-former-alexandria-town-clerk-pleads-guilty-theftBrookhaven-Comsewogue Union Free School District - Extra-Classroom Activity Funds (2021M-181)
Determine whether BrookhavenComsewogue Union Free School District District officials established an adequate accounting system for extraclassroom activity ECA funds
https://www.osc.ny.gov/local-government/audits/school-district/2022/06/17/brookhaven-comsewogue-union-free-school-district-extra-classroom-activityTown of Wawarsing - Financial Oversight of Select Activities (2018M-239)
… clerk (account clerk) paid a vendor, who is a relative, a double payment of $86,154. The former account clerk did not …
https://www.osc.ny.gov/local-government/audits/town/2019/06/28/town-wawarsing-financial-oversight-select-activities-2018m-239IX.11.A Single Audit Act Accounting and Reporting Requirements – IX. Federal Grants
… it receives and disburses. Many of these requirements are mandated by the Federal Program Information Act of 1977, as …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix11a-single-audit-act-accounting-and-reporting-requirementsTown of Pleasant Valley – Financial Management (2024M-158)
… develop realistic budgets or properly manage reserves. As a result, the Town had significant recurring operating … and expenditures were overestimated in the general and highway funds generating operating surpluses totaling $5.1 … did not adopt a fund balance policy and lacked a plan on how the funds will be used. As a result, there was no …
https://www.osc.ny.gov/local-government/audits/town/2025/05/09/town-pleasant-valley-financial-management-2024m-158DiNapoli: State's Cash Position is Strong
… State tax collections through the first five months of the state fiscal year were $26.9 billion, $119.3 million higher than projected in the latest Financial Plan update but 1.3 percent less than … State tax collections through the first five months of the state fiscal year were $269 …
https://www.osc.ny.gov/press/releases/2014/09/dinapoli-states-cash-position-strongNYS Common Retirement Fund Reports First Quarter Results
… The New York State Common Retirement Fund’s (Fund) estimated … with an estimated value of $216.3 billion, according to New York State Comptroller Thomas P. DiNapoli. “One of the … market volatility and uncertainty will continue. We manage New York state’s pension fund to withstand tough challenges. …
https://www.osc.ny.gov/press/releases/2020/08/nys-common-retirement-fund-reports-first-quarter-resultsJanuary 2001: Accounting & Reporting of Expendable and Non-expendable Trusts
… TE Fund (Expendable) and TN Fund (Non Expendable). GASB Statement No. 34 makes significant changes to the accounting … or other governments (for example, to fund an annual award or scholarship), will be reported as private … Trust Fund TE. These changes should be reported in your annual financial report as an addition or deduction from …
https://www.osc.ny.gov/local-government/publications/january-2001-accounting-reporting-expendable-and-non-expendable-trustsSaranac Central School District – Investment Program (2023M-89)
… million in operating and debt service funds available for investing, and earned $154,099 in investment earnings. Had … program - legality, safety, liquidity and yield - when investing available funds. District officials were given an …
https://www.osc.ny.gov/local-government/audits/school-district/2023/12/22/saranac-central-school-district-investment-program-2023m-89Town of Ira – Financial Management (2014M-280)
… of our audit was to review the Town’s financial management and budgeting practices for the period January 1, 2013 … Background The Town of Ira is located in Cayuga County and has a population of approximately 2,200. The Town, which … million. Key Findings The Board has not developed policies and procedures to govern budgeting practices and the level of …
https://www.osc.ny.gov/local-government/audits/town/2015/02/27/town-ira-financial-management-2014m-280XII.6.O Paying Retainage – XII. Expenditures
… Unit should refer to the appropriate purchase order in two lines: one to liquidate the full amount of the payment as a … represent the retainage (negative amount). Processing both lines on the payment voucher establishes the retainage … copy from relevant purchase orders using the retainage lines to complete the total payment. The Business Unit must …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xii/xii6o-paying-retainageDiNapoli: Independent Review Finds State Pension Fund Strong, but Warns of Risks Posed by Limited Staffing
… sought to establish our state’s pension fund as a leader in transparency, ethics and effectiveness. It’s gratifying to … as the Fund’s trustee: “The Comptroller consistently acts in the sole interest of the members and beneficiaries of the … outsourced investment management and support functions. In addition, independent compensation benchmarking indicates …
https://www.osc.ny.gov/press/releases/2016/07/dinapoli-independent-review-finds-state-pension-fund-strong-warns-risks-posed-limited-staffingOpinion 91-42
… fire department funds and village funds) GENERAL MUNICIPAL LAW, §119-n; MUNICIPAL HOME RULE LAW, §10[1][i]; VILLAGE LAW, §4-408: A village and its fire department may not agree …
https://www.osc.ny.gov/legal-opinions/opinion-91-42Leading the Way on Climate Investment
… change poses risks to the economy, financial markets, and the Fund’s investments. Managing these risks is integral to protecting the Fund’s investments, and capitalizing on the opportunities that arise from the … takes a comprehensive approach to addressing climate risk and investing in climate solutions. This multi-faceted …
https://www.osc.ny.gov/common-retirement-fund/leading-way-climate-investmentXI.5 Purchase Authorizations – XI. Procurement and Contract Management
… establishing Purchase Authorizations. FUNDS RESERVATION In most cases, the State agency is not required to create a funds … Profile based upon funds reservation requirements. In most cases, Purchase Authorizations are created in SFS with a …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xi/xi5-purchase-authorizationsDiNapoli: Tax Collections Exceed Projections Through First Half of Fiscal Year
… Tax collections of $38.2 billion through the first half of the fiscal year were $675.6 million … tax collections and lower-than-expected spending through the first six months of the fiscal year,” DiNapoli … position over the remainder of the year.” Tax receipts through the first six months were $4 billion, or 11.7 …
https://www.osc.ny.gov/press/releases/2015/10/dinapoli-tax-collections-exceed-projections-through-first-half-fiscal-yearNYS Comptroller DiNapoli Continues to Hold Corporate America Accountable for Poor Climate Policies
… goals for lowering their emissions and using renewable energy sources,” DiNapoli said. “There is no single magic … lower greenhouse gas (GHG) emissions, use more renewable energy, increase energy efficiency and report on their efforts to adopt …
https://www.osc.ny.gov/press/releases/2019/09/nys-comptroller-dinapoli-continues-hold-corporate-america-accountable-poor-climate-policiesDiNapoli: State's Fiscal Outlook Declines
… budget gaps underscore the importance of building up rainy day reserves and enhancing criteria for their use. At the end of SFY 2022-23, statutory rainy day reserves totaled $6.3 billion. The Enacted Budget … grew by $4 billion in SFY 2024-25, $5.3 billion in SFY 2025-26, and $6.3 billion in SFY 2026-27. The gaps are now …
https://www.osc.ny.gov/press/releases/2023/07/dinapoli-states-fiscal-outlook-declinesDiNapoli Releases May State Cash Report
… "The state's tax revenues did not make up ground in May and are still more than $1 billion lower than last year at … how current economic conditions are affecting individuals and companies, which in turn impacts state revenues." Through … Medicaid (up $2 billion primarily from federal sources) and education (up $1.1 billion). The General Fund ended May …
https://www.osc.ny.gov/press/releases/2017/06/dinapoli-releases-may-state-cash-report