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DiNapoli: 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: NYC Finances Strong But Slowing Economy Presents Risks
… but the risk of an economic slowdown is growing, according to a report released today by New York State Comptroller … a robust real estate market, has pushed tax collections to record levels and beyond the city’s expectations,” DiNapoli said. “Still, there are reasons to be concerned about the economy given current developments. …
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
… (NYSLRS) employer contribution rates for State Fiscal Year 2020-21 will remain the same as the previous year for … Association of State Retirement Administrators. Only 16 public funds are currently below 7 percent for their …
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
… foundations had net assets totaling $2.1 billion as of June 30, 2015 (most recent available financial information), … one of the largest with $723 million in assets as of June 30, 2015. Auditors found two foundations, Stony Brook … compensated by UBF for the fiscal year 2014-15 that ends June 30 and found that in addition to a state salary, 20 were …
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
… New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund (CRF or the Fund) has … (GSAM) to invest in a diverse group of global equity strategies viewed as having strong potential to enhance the …
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
… State tax collections totaled $18.6 billion in the first … and $315.7 million below projections, according to the state cash report issued today by State Comptroller Thomas P. … 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/2017/07/dinapoli-state-tax-collections-lagging-last-year-12-billionDiNapoli: School District Revenue Growth Slows
… last three years, averaging only 1.3 percent, according to a report issued today by State Comptroller Thomas P. … focusing greater attention on the issues that contribute to the financial pressures on local governments and school … this combination of factors has forced school districts to tighten their belts, too many high-need school districts …
https://www.osc.ny.gov/press/releases/2014/01/dinapoli-school-district-revenue-growth-slowsDiNapoli: State Contractor Failed to Pay Prevailing Wages
… programs of the South Beach Psychiatric Center in Staten Island. It contracts with OMH to provide janitorial services …
https://www.osc.ny.gov/press/releases/2014/10/dinapoli-state-contractor-failed-pay-prevailing-wagesNYC Budget Is Balanced but Risks Are Growing
… federal budget cuts and slower economic growth, according to a report released today by New York State Comptroller … job growth, record tourism and rising wages have helped to bolster New York City’s coffers,” DiNapoli said. “Still, … are risks on the horizon, and Mayor de Blasio’s efforts to find additional savings in the budget are prudent.” The …
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
… cash withdrawals at ATMs in the Del Lago Resort & Casino and the Turning Stone Resort Casino. She also wrote checks to herself from the fire …
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
New sources of recurring revenue in the states final budget and other aid including expected revenue from congestion pricing give the Metropolitan Transportation Authority an opportunity to ease the pressure that growing debt places on its operations and stabilize its future finances
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
… between a public agency and a private sector entity that result in greater private sector participation in the …
https://www.osc.ny.gov/press/releases/2011/01/public-private-partnerships-potentially-good-option-financial-risks-taxpayers-must-be-addressedOpinion 92-46
… or statutory amendments that bear on the issues discussed in the opinion. PUBLIC CONTRACTS -- Bidding Monetary … to be used at a village youth center should be considered in the aggregate for purposes of determining the competitive … bidder after public advertisement for sealed bids in the manner provided by section 103. Since it is …
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
… of government funds which carries a maximum penalty of one year in prison and a $100,000 fine. Assistant U.S. Attorney … Program, October 1, 2013 for the duration of the school year. The salary associated with this appointment was $23 an …
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
… appropriation may be increased to an amount of not more than $10,000 by resolution subject to permissive referendum … appropriation may be increased to an amount of not more than $10,000 by resolution subject to permissive referendum, … or district therein involving an expenditure of more than $20,000, and all purchase contracts of a political …
https://www.osc.ny.gov/legal-opinions/opinion-92-33DiNapoli: LIRR On-Time Performance Falls Short
… Manhattan to Long Island." In 2016, the LIRR carried 89.3 million riders, the most since 1949. A total of 247,000 … trains were late, including 6,170 that were more than 10 minutes late (3,254 were more than 15 minutes late); A … Yorkers. Read the report , or go to: http://www.osc.state.ny.us/osdc/rpt1-2018-lirr-performance.pdf For access to state …
https://www.osc.ny.gov/press/releases/2017/04/dinapoli-lirr-time-performance-falls-shortDiNapoli Releases Analysis of State Financial Plan
… stability for the next five years and includes plans to bolster rainy day reserves significantly, according to a report by State Comptroller Thomas P. DiNapoli. However, … position is currently stable, providing an opportunity to build reserves that should not be lost,” DiNapoli said. …
https://www.osc.ny.gov/press/releases/2022/07/dinapoli-releases-analysis-state-financial-planXIV.5 Employee Award Programs – XIV. Special Procedures
… their choice will receive meals valued at $19 per plate. Result - All costs associated with the awards and the award … $50 gift certificate from the M/C non-cash award program. Result – The cost of the award is allowable since gift … program. All three awards were qualified program awards. Result – The cost of the awards are allowable; however, …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xiv/xiv5-employee-award-programsDiNapoli: New York City's Budget Outlook Improves
… social services remain uncertain in the future, according to State Comptroller Thomas P. DiNapoli’s analysis of the … budget gaps are still large and tough choices remain ahead to fund essential education programs and social services,” … influx of asylum seekers and needs the federal government to take steps to provide funding and address comprehensive …
https://www.osc.ny.gov/press/releases/2024/02/dinapoli-new-york-citys-budget-outlook-improvesDiNapoli: MTA Avoided A Fiscal Crisis, Now It Has To Convince Riders To Come Back
… In a turnaround from the fiscal crisis it faced a year ago, the Metropolitan Transportation Authority (MTA) … the MTA faced a $600 million budget shortfall for the year with gaps of more than $1 billion in 2024 that could … the MTA has balanced budgets throughout its five-year financial plan through 2027. MTA projects its overall …
https://www.osc.ny.gov/press/releases/2023/10/dinapoli-mta-avoided-fiscal-crisis-now-it-has-convince-riders-come-back