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Town of Saranac - Cash Management (2019M-32)
… not develop and manage a comprehensive investment program to ensure interest earnings were maximized and bank fees were … the audit period resulting in a net cost of $2,407 related to banking services. Key Recommendations Periodically request … for banking services from multiple financial institutions to maximize the return on investments and minimize bank fees. …
https://www.osc.ny.gov/local-government/audits/town/2019/09/13/town-saranac-cash-management-2019m-32Massena Central School District - Selected Non-Payroll Disbursements (2019M-71)
… fees and utilities), direct access to a District bank account to disburse these funds. Payment of utilities … vendors from having direct access to a District bank account and the ability to disburse funds. Transfer money to …
https://www.osc.ny.gov/local-government/audits/school-district/2019/06/21/massena-central-school-district-selected-non-payroll-disbursements-2019mIX.12.A Key Provisions – IX. Federal Grants
… The following are the key provisions of the CMIA: Federal agencies must make timely grant awards … authorities or local governments) will be subject to CMIA interest calculations if the total annual expenditures for any federal program, as recorded in a given Single Audit, exceed the CMIA program threshold …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix12a-key-provisionsGroton Central School District – Cash Management (2020M-124)
… investment program or comply with the District’s Board of Education’s (Board) investment policy. Solicit interest … funds for investment. Ensure available funds are invested, within legal limits, to maximize interest earnings. District …
https://www.osc.ny.gov/local-government/audits/school-district/2021/01/29/groton-central-school-district-cash-management-2020m-124Rocky Point Union Free School District – Financial Condition (2015M-170)
… Amounts retained in two of the District’s reserves were excessive. Key Recommendations Adopt realistic appropriations … budgets. Develop comprehensive policies for establishing and using reserve funds. Develop a plan for the use of excess fund balance and reserve funds in a manner that benefits District …
https://www.osc.ny.gov/local-government/audits/school-district/2015/11/13/rocky-point-union-free-school-district-financial-condition-2015m-170Elba Central School District – Financial Condition (2013M-240)
… Purpose of Audit The purpose of our audit was to examine the District’s financial activities for the period July 1, 2011, to July 30, 2013. Background The Elba Central School District … year totaled $9.7 million. Key Findings From the 2008-09 to 2012-13 fiscal years, District officials consistently …
https://www.osc.ny.gov/local-government/audits/school-district/2013/10/25/elba-central-school-district-financial-condition-2013m-240Hammond Central School District – Financial Management (2024M-70)
… School District (District) Board of Education (Board) and District officials properly managed fund balance and reserve funds. Key Findings The Board and District … for the capital reserve fund by $900,000. Accumulated excessive balances totaling about $600,000 in three …
https://www.osc.ny.gov/local-government/audits/school-district/2024/10/11/hammond-central-school-district-financial-management-2024m-70City of Amsterdam – Budget Review (B23-5-4)
… an independent evaluation of the City’s proposed budget for 2023-24. Background Chapter 531 of the Laws of 2019 … is authorized to issue the deficit obligations, and for each subsequent fiscal year during which the deficit … 50 City employees. The City faces potential increased salary and wage costs when these agreements are settled. The …
https://www.osc.ny.gov/local-government/audits/city/2023/05/05/city-amsterdam-budget-review-b23-5-4State Pension Fund Adds $30 Million for Investments in New York Companies
… The New York State Common Retirement Fund has committed an additional $30 million to … Vnomics, a fleet management software company located near Rochester and FieldLens, a construction industry mobile …
https://www.osc.ny.gov/press/releases/2015/03/state-pension-fund-adds-30-million-investments-new-york-companiesNYS 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) 2020-21 was 10.01 percent for … 31, 2020, and ended the quarter with an estimated value of $247.7 billion, according to New York State Comptroller …
https://www.osc.ny.gov/press/releases/2021/02/nys-common-retirement-fund-reports-third-quarter-resultsDiNapoli: State Pension Fund Value $192 Billion
… the more than one million men and women who participate in it, as well as for New York taxpayers.” Over state fiscal …
https://www.osc.ny.gov/press/releases/2017/05/dinapoli-state-pension-fund-value-192-billionDiNapoli Announces Reduction in Employer Contribution Rates for Retirement System
… rate for ERS will be lowered from 16.2% to 11.6% of payroll. The estimated average employer contribution rate for PFRS will be reduced from 28.3% to 27% of payroll. According to the Fund’s Actuary’s estimates, the …
https://www.osc.ny.gov/press/releases/2021/08/dinapoli-announces-reduction-employer-contribution-rates-retirement-systemIX.6.D HHS Payment Management System – IX. Federal Grants
… payment requests, and disbursement reporting activities. It is a full service centralized grants payment and cash …
https://www.osc.ny.gov/state-agencies/gfo/chapter-ix/ix6d-hhs-payment-management-systemTown of Windsor – Capital Project (2025M-52)
… (Project)? Audit Period March 1, 2022 – October 24, 2024. We extended our audit period forward to December 31, … whether they were properly awarded. Additionally, although not required by the Town’s procurement policy (Policy), the … 35 of the GML. For more information on preparing and filing your CAP, please refer to our brochure, Responding to …
https://www.osc.ny.gov/local-government/audits/town/2025/08/29/town-windsor-capital-project-2025m-52DiNapoli Releases Analysis of State Financial Plan
… fiscal footing. Making deposits to the rainy-day reserves on or ahead of schedule may help prevent disruptions in … on high-income taxpayers; these taxpayers typically have income from more volatile sources, such as capital … level of reserves would have a significant stabilizing effect on the state’s long-term finances, and would reduce …
https://www.osc.ny.gov/press/releases/2022/07/dinapoli-releases-analysis-state-financial-planDiNapoli Releases Review of Executive Budget
… Although the state Division of the Budget (DOB) forecasts in the State Fiscal Year (SFY) 2022-23 Executive Budget that … recovery and financial plan, according to a review by New York State Comptroller Thomas P. DiNapoli. The budget … addition, some of the $10 billion multi-year funding for healthcare is proposed without sufficient oversight and …
https://www.osc.ny.gov/press/releases/2022/02/dinapoli-releases-review-executive-budgetDiNapoli: January Tax Collections Fall Short
… $58.9 billion, but were $367.3 million below the state’s latest estimates because of lower than expected Personal … collections from PIT were $467.6 million below the state’s latest Financial Plan projections but $301.4 million higher … of 1.9 percent from last year, and $59.5 million above the latest projections. Total tax collections through January …
https://www.osc.ny.gov/press/releases/2015/02/dinapoli-january-tax-collections-fall-shortComptroller DiNapoli Releases State Audits
… in the Home Office Advance Account, with an authorized balance of $25,000, has declined from approximately $57,000 … example, Finance's Court Assets Tracking System reported a balance of $296.7 million, while the bank and investment firm that held the money had a balance of $299.1 million. Finance stated that the difference …
https://www.osc.ny.gov/press/releases/2014/05/comptroller-dinapoli-releases-state-auditsComptroller DiNapoli Releases Municipal Audits
… use section of the employee handbook and found that it did not clearly define use that was not acceptable or the …
https://www.osc.ny.gov/press/releases/2019/08/comptroller-dinapoli-releases-municipal-auditsDiNapoli: State Pension Fund Valued at $254.1 Billion at End of First Quarter
… New York State Comptroller Thomas P. DiNapoli today announced … diversified portfolio is well-positioned to handle any market fluctuations. Our pensioners, members and …
https://www.osc.ny.gov/press/releases/2023/08/dinapoli-state-pension-fund-valued-2541-billion-end-first-quarter