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DiNapoli: State Pension Fund Valued at $273.4 Billion at End of Third Quarter
… positive, markets fell in December. Investors will face continued uncertainty in the months ahead with the … performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency. …
https://www.osc.ny.gov/press/releases/2025/02/dinapoli-state-pension-fund-valued-2734-billion-end-third-quarterDiNapoli's Auditors Halt $25 Million in Suspicious Tax Refunds
… coming days. The average state tax refund from the state is $840. “Fighting refund fraud is an ongoing battle as people find new ways to cheat the … by filing for refunds they are not entitled to. My office is stopping those suspicious refunds and ensuring that only …
https://www.osc.ny.gov/press/releases/2016/04/dinapolis-auditors-halt-25-million-suspicious-tax-refundsDiNapoli Announces Robin Lois to Oversee Local Government Division
… closing activities, and the annual independent audit. Lois is a certified public accountant with over 35 years of … corporate accounting, and small business operations. She is a graduate of Mount Saint Mary College. She started on Jan. 4. Her annual salary is $193,589. …
https://www.osc.ny.gov/press/releases/2024/01/dinapoli-announces-robin-lois-oversee-local-government-divisionVIII.1.B Revenue Transfers – VIII. Accounts Payable Journal Vouchers & General Ledger Journal Entries
… recorded as “Temporary Undistributed Receipts” account code 32601 to the correct revenue account code. Whenever possible, deposits should be recorded to the … must use “GLE”. See Section 1 – Accounts Payable Journal Voucher & General Ledger Journal Entries Overview of this …
https://www.osc.ny.gov/state-agencies/gfo/chapter-viii/viii1b-revenue-transfersWhat Is a Claim? – Improving the Effectiveness of Your Claims Auditing Process
… Basically, a claim is a demand presented for the payment of money due for goods … by the local government or school district, so long as it is properly itemized and provides all the information, … for audit. Using a standard claim form as a cover sheet is desirable because required information is presented in a …
https://www.osc.ny.gov/local-government/publications/claims-auditing-process/what-claimDiNapoli: Feds Must Step Up or NYC Metro Region Faces End of Public Transit As We Know It
… of its November budget and financial plan: “Our regional transit system is on the edge of a precipice. Without a … region faces service cuts in 2021 that would change public transit as we know it. It’s too late for federal help to … as possible. “Washington needs to act now to support mass transit, the lifeblood of metropolitan economies.” …
https://www.osc.ny.gov/press/releases/2020/11/dinapoli-feds-must-step-or-nyc-metro-region-faces-end-public-transit-we-know-itLump Sum Payments – Enhanced Reporting
… must submit the settlement agreement or court documents to NYSLRS for review before making any payments or … If the payment is pensionable, you will then be required to submit the appropriate payments and adjustments. ** For a … members of most tiers and plans, a lump sum payment for up to 30 unused vacation days can be included in the calculation …
https://www.osc.ny.gov/retirement/employers/enhanced-reporting/lump-sum-paymentsDiNapoli: State Pension Fund Valued at $297.8 Billion at End of Third Quarter
… for the first nine months of the fiscal year. "The state pension fund continued to grow over the third quarter,” … risks, however. Fortunately, my team manages the state pension fund prudently, with a diversified portfolio that can … economic storms and provide retirement security for the pension fund’s more than 1.2 million working and retired …
https://www.osc.ny.gov/press/releases/2026/02/dinapoli-state-pension-fund-valued-297-point-8-billion-end-third-quarterIntroduction – Federal Funding and New York
… Employees in New York State Federal Employment Loss in NY in 2025 Federal Impact on Higher Education Federal …
https://www.osc.ny.gov/reports/budget/fed-funding-ny/introductionCost-Saving Ideas: School District Auditing – External Auditor
… It is required to hire an external auditor unless your district or BOCES has fewer than eight teachers. Use the … practice in New York State; have or develop expertise in district financial operations, pertinent statutes and … that the individual or firm is independent of the district as defined by Generally Accepted Government Auditing …
https://www.osc.ny.gov/local-government/publications/cost-saving-ideas-school-district-auditing-external-auditorResources for Local Officials
… and Bulletins Accounting and Reporting Manuals Adult-Use Cannabis Aid and Incentives for Municipalities (AIM) and …
https://www.osc.ny.gov/local-government/resources/resources-local-officialsCost-Saving Ideas: Establishing an Effective Fleet Management System
… may need to make a determination on what type of vehicle is needed. A general rule of thumb is that used vehicles may require more frequent and costly … 3 $287 $238 $525 The point here isn’t that a new vehicle is better than a used one, or that a compact is preferred …
https://www.osc.ny.gov/local-government/publications/cost-saving-ideas-establishing-effective-fleet-management-systemEffectiveness of the Information Technology Transformation (Follow-Up)
… of implementation of the four recommendations included in our initial audit report, Effectiveness of the Information … Technology Transformation process has been effective in ensuring that the resulting ITS clusters operate … and whether the Transformation has been successful in standardizing the processes followed by each agency. We …
https://www.osc.ny.gov/state-agencies/audits/2017/12/13/effectiveness-information-technology-transformation-followLehman College – Controls Over Bank Accounts (Follow-Up)
… the implementation of the 2008 banking policy. One was a Certificate of Deposit account (totaling $65,034). In …
https://www.osc.ny.gov/state-agencies/audits/2017/12/21/lehman-college-controls-over-bank-accounts-followThe Mitchell-Lama Program – Awarding Housing Units and Maintaining Waiting Lists (Follow-Up)
… the extent of implementation of the recommendations in our initial audit report, The Mitchell-Lama Program: … units were assigned to eligible persons in compliance with properly established lists. We found that applicants who were next in line for units in a specific development were not always …
https://www.osc.ny.gov/state-agencies/audits/2017/03/23/mitchell-lama-program-awarding-housing-units-and-maintaining-waiting-lists-followSelected Aspects of the Migrant Education Program (Follow-Up)
… portion of the Migrant Education Tutorial Services (METS) faced challenges obtaining migrant student performance … develop methods to provide evaluation results at both the METS level and Program-wide to monitor performance against … to facilitate the timely exchange of information between METS and school districts. Key Finding Department officials …
https://www.osc.ny.gov/state-agencies/audits/2016/09/23/selected-aspects-migrant-education-program-followManagement of General School Funds (Follow-Up)
… nine recommendations included in our initial audit report, John F. Kennedy Educational Campus: Management of General … York City Department of Education (DoE) did not provide John F. Kennedy Educational Campus staff with adequate … management control over GSF accounts. Key Finding DoE and John F. Kennedy officials have made progress in addressing …
https://www.osc.ny.gov/state-agencies/audits/2014/09/30/management-general-school-funds-followChild and Dependent Care Credit
… the New York City Administration for Children’s Services (ACS). To accomplish our objective, we matched a file of tax … to the subsidized day care files provided by OCFS and ACS. Key Findings During the period of our examination, the … at $18.3 million. While OSC is able to access the OCFS and ACS data for our audit purposes, we are precluded from …
https://www.osc.ny.gov/state-agencies/audits/2017/08/29/child-and-dependent-care-creditControls Over Cash Advance Accounts
… Education Department (SED) has adequate controls over the cash advance accounts it oversees to ensure the money is … Background Under Section 115 of the State Finance Law, cash advances are issued to State agencies for purposes such as petty cash, travel, and other funding needs (e.g., confidential, …
https://www.osc.ny.gov/state-agencies/audits/2014/09/08/controls-over-cash-advance-accountsRush Fire District – Internal Controls Over Financial Operations (2013M-255)
… Purpose of Audit The purpose of our audit was to determine whether the Board provided proper oversight of … credit card policy authorizes issuing credit cards to certain District officials. The policy states that each credit card purchase is limited to $2,500 and must be documented by submitting a receipt …
https://www.osc.ny.gov/local-government/audits/fire-district/2013/11/15/rush-fire-district-internal-controls-over-financial-operations-2013m-255