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DiNapoli Releases December State Cash Report
… P. DiNapoli. New York state also received $235 million in new monetary settlements during December. "Overall tax collections in December were close to reduced estimates from the mid-year … bonuses will influence whether current estimates are met in the final quarter of the fiscal year.” Through December, …
https://www.osc.ny.gov/press/releases/2017/01/dinapoli-releases-december-state-cash-reportNYS Common Retirement Fund Announces First Quarter Results
… The New York State Common Retirement Fund's (Fund) overall return in the first quarter of the state fiscal … fiscal year," DiNapoli said. "As a long term investor, the fund's performance is best measured by its success over a … The New York State Common Retirement Funds Fund overall return in the first quarter of the state fiscal …
https://www.osc.ny.gov/press/releases/2017/08/nys-common-retirement-fund-announces-first-quarter-resultsNYS Common Retirement Fund Reports Third Quarter Results
… State Common Retirement Fund’s (Fund) estimated return in the third quarter of the State Fiscal Year (SFY) 2021-22 … for the three-month period ending Dec. 31, 2021, according to New York State Comptroller Thomas P. DiNapoli. It ended … Dec. 31, 2021, the Fund had 51.38% of its assets invested in publicly traded equities. The remaining Fund assets by …
https://www.osc.ny.gov/press/releases/2022/02/nys-common-retirement-fund-reports-third-quarter-resultsUse of Federal Funding for Election Technology and Security
… of Elections utilized available funding from the 2018 Help America Vote Act Election Security Grant to enhance the … of Elections (County Boards). Congress passed the Help America Vote Act of 2002 (HAVA) to help reform the nation’s … BOE utilized available funding from the 2018 Help America Vote Act Election Security Grant to enhance the …
https://www.osc.ny.gov/state-agencies/audits/2021/09/17/use-federal-funding-election-technology-and-securityTown of Lindley – Financial Management (2012M-226)
… to review the Town’s financial management for the period January 1, 2009, to August 15, 2012. Background The Town of … revenues and overestimated expenditures. As a result, fund balance that was appropriated as a funding …
https://www.osc.ny.gov/local-government/audits/town/2013/02/22/town-lindley-financial-management-2012m-226Town of Lincoln – Financial Management (2013M-245)
… 31, 2012. Background The Town of Lincoln is located in Madison County and has a population of approximately … 31, 2012, the Board accumulated unexpended surplus funds in the general fund totaling $458,698, which were excessive … occurred because the Board underestimated budget revenues in previous years and did not adopt a policy to govern the …
https://www.osc.ny.gov/local-government/audits/town/2013/11/15/town-lincoln-financial-management-2013m-245Town of Cayuta – Board Oversight and Cash Receipts and Disbursements (2015M-6)
… Town Board. The Town’s budgeted appropriations for all funds were $357,927 for 2015. Key Findings The 2012 through … Reduce the surplus fund balance in the general and highway funds. If the Board believes it is necessary to accumulate … planned purposes, it should formally establish reserve funds. Other uses for surplus funds include financing …
https://www.osc.ny.gov/local-government/audits/town/2015/08/28/town-cayuta-board-oversight-and-cash-receipts-and-disbursements-2015m-6Town of Lapeer – Budgeting (2024M-127)
… realistic budgets. As a result, unrestricted fund balance in these funds increased to levels between 85 and 182 percent … determined that estimated revenues were underestimated in the general and highway funds, and budgeted appropriations were overestimated in the general fund, resulting in operating surpluses …
https://www.osc.ny.gov/local-government/audits/town/2025/01/31/town-lapeer-budgeting-2024m-127Lindenhurst Union Free School District – Collections (2024M-24)
… Free School District (District) officials ensured that funds collected from recreational and educational programs were properly … Key Findings District officials did not ensure that funds collected from all recreational and educational … Union Free School District District officials ensured that funds collected from recreational and educational programs …
https://www.osc.ny.gov/local-government/audits/school-district/2024/07/19/lindenhurst-union-free-school-district-collections-2024m-24Hamilton Fulton Montgomery Board of Cooperative Educational Services – Investment Program (2023M-116)
… flow forecasts to monitor and estimate funds available for investment. Key Recommendations Adopt a comprehensive …
https://www.osc.ny.gov/local-government/audits/boces/2023/12/22/hamilton-fulton-montgomery-board-cooperative-educational-services-investmentWebster Public Library - Board Oversight (2018M-125)
… Board provided adequate oversight of financial operations. Key Findings The Board did not: Audit private fund claims and … private funds. Adopt sufficient financial and IT policies. Key Recommendations Audit all claims, including private funds …
https://www.osc.ny.gov/local-government/audits/library/2018/09/07/webster-public-library-board-oversight-2018m-125IX.12.K Functional Clearance Patterns – IX. Federal Grants
… funds until such checks clear the state's bank account or EFT settlement occurs. To calculate CMIA interest …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix12k-functional-clearance-patternsGlens Falls Common School District - Cash Management (2019M-177)
… were maximized. Had officials invested available funds in a financial institution with higher available interest …
https://www.osc.ny.gov/local-government/audits/school-district/2019/11/15/glens-falls-common-school-district-cash-management-2019m-177Moriah Central School District - Cash Management (2019M-65)
… earnings were maximized. Had officials invested idle funds in a financial institution with higher available interest … funds for investment. Ensure idle funds are invested in a manner, within legal limits, to maximize interest …
https://www.osc.ny.gov/local-government/audits/school-district/2019/06/14/moriah-central-school-district-cash-management-2019m-65IX.8.D Electronic Refund Payments to the U.S. HHS – IX. Federal Grants
… disallowances; Cost reallocations (Expenditure Adjustment Journal transactions crediting federal funds); Any other … that would bill against the award. REGULAR PAYMENT VOUCHER To generate an electronic refund of federal funds to … the normal draw process). The voucher ID of the ROA or the journal ID that was used to deposit the refund/receipt into …
https://www.osc.ny.gov/state-agencies/chapter-ix/ix8d-electronic-refund-payments-us-hhsXVI.3.D Basis of Accounting/Measurement Focus – XVI. Financial Reporting
… is incurred regardless of when paid. However, these accruals should be recognized only if measured objectively. …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xvi/xvi3d-basis-accountingmeasurement-focusDiNapoli Op-Ed in Crain's New York Business
… and accountability in budgeting for the use of federal relief funds. The full op-ed is below: What Are New Yorkers Getting From Federal Covid Relief Funds? The new state budget reflects robust tax … categories, including access to broadband, economic relief and development, education, housing, water …
https://www.osc.ny.gov/press/releases/2022/04/dinapoli-op-ed-crains-new-york-businessTown of Butler – Financial Management (2024M-119)
… Town’s fund balances. As a result, officials maintained an excessive unrestricted fund balance in the townwide and … adopt a comprehensive financial plan, reserve policy or an effective fund balance policy. As a result, the Board’s … ability to properly manage the Town’s fund balance was impaired. The audit also identified a $250,000 encumbrance …
https://www.osc.ny.gov/local-government/audits/town/2024/12/24/town-butler-financial-management-2024m-119Ontario-Seneca-Yates-Cayuga-Wayne Board of Cooperative Educational Services (BOCES) – Multiyear Planning and Software Management (2016M-249)
… The objective of our audit was to assess BOCES’ multiyear planning, including reserve funds, and software management … Board of Cooperative Educational Services is a public entity created to provide shared educational programs and services to 25 component school districts. BOCES is governed …
https://www.osc.ny.gov/local-government/audits/boces/2016/12/09/ontario-seneca-yates-cayuga-wayne-board-cooperative-educational-services-bocesMount Sinai Union Free School District – Financial Management (2013M-227)
… Sinai Union Free School District (District) is located in the Town of Brookhaven in Suffolk County. The District is governed by the Board of … expenditures over the past five years, which resulted in operating surpluses totaling $7.1 million. Although the …
https://www.osc.ny.gov/local-government/audits/school-district/2013/10/16/mount-sinai-union-free-school-district-financial-management-2013m-227