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State Comptroller DiNapoli Releases Municipal & School Audits
… and district officials did not invest available funds in financial institutions that offered competitive … rates, prepare monthly cash flow forecasts to estimate funds available to invest or solicit interest rate quotes. … quotes or prepare monthly cash flow forecasts to estimate funds available to invest or consider other legally …
https://www.osc.ny.gov/press/releases/2023/10/state-comptroller-dinapoli-releases-municipal-school-audits-1State Comptroller DiNapoli Calls on Corporations to Disclose Political Spending
… York State Common Retirement Fund’s (the Fund) portfolio to disclose their direct and indirect spending on political causes and on two others to adopt a new policy before contributing to the political activities of third-party organizations. …
https://www.osc.ny.gov/press/releases/2023/01/state-comptroller-dinapoli-calls-corporations-disclose-political-spendingDiNapoli: State Tax Receipts Tracking Close to Projections Through First Half of the Year
… State tax receipts totaled $54.6 billion through the first six … tax (PIT) receipts totaled $28.9 billion and were $646.8 million above DOB’s financial plan projections and $2.9 … than through September in the prior fiscal year, but just $8.9 million higher than DOB’s financial plan projections. All …
https://www.osc.ny.gov/press/releases/2024/10/dinapoli-state-tax-receipts-tracking-close-projections-through-first-half-yearCattaraugus-Little Valley Central School District – Financial Management (2022M-23)
Determine whether the Cattaraugus-Little Valley Central School District’s (District) Board and District officials effectively managed fund balance and reserve funds.
https://www.osc.ny.gov/files/local-government/audits/2022/pdf/cattaraugus-little-valley-2022-23.pdfAmityville Union Free School District – Extra-Classroom Activity Fund (2021M-87)
Determine whether the Amityville Union Free School District (District) officials properly collected, receipted, deposited and disbursed extra-classroom activity (ECA) funds.
https://www.osc.ny.gov/files/local-government/audits/2021/pdf/amityville-union-free-2021-87.pdfWhite Plains City School District – Financial Management (2020M-71)
Determine whether the Board and District officials adopted realistic budgets and maintained reasonable levels of fund balance and reserve funds.
https://www.osc.ny.gov/files/local-government/audits/2020/pdf/white-plains-2020-71.pdfDiNapoli: NYS Pension Fund Commits $1.3 Billion to Sustainable Investment Program
… The New York State Common Retirement Fund (Fund) committed $1.3 billion to two funds as part of … State Common Retirement Fund is one of the largest public pension funds in the United States. The Fund holds and … in the nation. … The New York State Common Retirement Fund Fund committed $13 billion to two funds as part of its …
https://www.osc.ny.gov/press/releases/2023/03/dinapoli-nys-pension-fund-commits-13-billion-sustainable-investment-programDiNapoli Proposes Reforms to Bolster State's Rainy Day Reserves
… problems is before they arrive,” DiNapoli said. “The need for a cushion to fall back on is especially urgent today amid signs of a slowing economy. As the financial capital of the world, New York is particularly sensitive to economic …
https://www.osc.ny.gov/press/releases/2019/12/dinapoli-proposes-reforms-bolster-states-rainy-day-reservesIV.3.C Federal Receipts – IV. Accounting Codes - Uses and Descriptions
… by the State that are earmarked for specific programs and are accounted for in Special Revenue – Federal funds such … Federal USDA-Food and Nutrition Services Fund; the Federal Health and Human Services Fund; the Federal Education Fund; … 36101 Direct Federal Receipts 36121 Redeposit/Recovery of Federal Fund Payments Guide to Financial Operations REV. …
https://www.osc.ny.gov/state-agencies/gfo/chapter-iv/iv3c-federal-receiptsReal Property Tax Cap: Overview of the Role of the Office of the State Comptroller
… the amount of property taxes that local governments and school districts can levy. The following are some of the … Report Tax Cap Information Local governments and school districts are required to submit any information … tax caps to the State Comptroller for the coming fiscal or school year, before annual budgets are passed. The State …
https://www.osc.ny.gov/local-government/property-tax-cap/real-property-tax-cap-overview-role-office-state-comptrollerComptroller DiNapoli Releases School Audits
… his office completed audits of the Groton Central School District , Herricks Union Free School District and the …
https://www.osc.ny.gov/press/releases/2015/01/comptroller-dinapoli-releases-school-auditsControls Over Cash Advance Accounts
… 2011 to June 12, 2014. Background Under Section 115 of the State Finance Law, cash advances are issued to State agencies for purposes such as petty cash, travel, and … agency appropriations and the cash is transferred from the State Treasury to a local bank account for use by the agency. …
https://www.osc.ny.gov/state-agencies/audits/2015/04/06/controls-over-cash-advance-accountsRockland Board of Cooperative Educational Services – Administrator Compensation, Financial Management and Purchasing (2017M-60)
… Purpose of Audit The purpose of our audit was to review administrative … purchasing and financial management practices for the period July 1, 2013 through June 30, 2015. Background The Rockland Board of Cooperative Educational Services …
https://www.osc.ny.gov/local-government/audits/boces/2017/12/15/rockland-board-cooperative-educational-services-administrator-compensationCassadaga Valley Central School District – Financial Condition (2013M-249)
… condition and the use of fund balance and reserve funds for the period July 1, 2008 through August 5, 2013. … a plan for the use of the surplus balances in the reserve funds identified in this report in a manner that benefits … policies related to the establishment and use of reserve funds. Review all reserves and determine if the amounts …
https://www.osc.ny.gov/local-government/audits/school-district/2013/12/20/cassadaga-valley-central-school-district-financial-condition-2013m-249Town of Galen – Financial Management (2014M-341)
… did not properly account for reserves within the operating funds that financed them and does not budget to fund … overestimated expenditures within the town-outside-village funds. The Board did not create a comprehensive, multiyear … and implement a plan for establishing and using reserve funds. Establish written policies and procedures governing …
https://www.osc.ny.gov/local-government/audits/town/2015/06/05/town-galen-financial-management-2014m-341Tri-Valley Central School District – Budgeting (2014M-094)
… they did not develop a plan for the use of the surplus funds. District administrators and the Board recognized the … may be faced with significant additional surplus funds. Key Recommendations Develop realistic budgets that are … Develop formal contingency plans for the use of surplus funds that may be available if potential liabilities are not …
https://www.osc.ny.gov/local-government/audits/school-district/2014/08/08/tri-valley-central-school-district-budgeting-2014m-094Village of Washingtonville – Financial Condition (2013M-346)
… in operating deficits in the Village’s three operating funds (general, water and sewer). During the period covered … to be overexpended causing deficits in these funds. The Board allowed appropriations to be overexpended … trends, and plans for the future use of reserve funds. Frequently monitor and update the plans to ensure that …
https://www.osc.ny.gov/local-government/audits/village/2014/04/04/village-washingtonville-financial-condition-2013m-346City of Hornell – Business Improvement District (2018M-38)
… and Falsifying Business Records in the First Degree. On January 7, 2022, the Executive Director pled guilty to … take corrective action. Appendix B includes our comments on issues raised in the City’s response. … Determine whether …
https://www.osc.ny.gov/local-government/audits/city/2022/04/08/city-hornell-business-improvement-district-2018m-38City of Binghamton – City Operations (2015M-280)
… Purpose of Audit The purpose of our audit was to assess the City’s … plan to reduce the outstanding debt or only issue debt when other funds are not available. If funds do not become available in the budget, City officials could …
https://www.osc.ny.gov/local-government/audits/city/2016/06/03/city-binghamton-city-operations-2015m-280Wayne Central School District – Financial Management (2012M-229)
… needed to fund the budget, created fake encumbrances (by at least $3.1 million for the 2009-10 and 2010-11 years); and …
https://www.osc.ny.gov/local-government/audits/school-district/2013/03/22/wayne-central-school-district-financial-management-2012m-229