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DiNapoli: State Pension Fund Value $178.1 Billion
… focused on ensuring we remain one of the best funded and top performing plans in the country.” Over state fiscal year … 4.00 and 13.14 percent, respectively. Absolute return strategies were challenged during the year and a portfolio … Equities -3.61% 4.6% TIPS** 2.26% 3.6% Absolute Return Strategies -4.78% 3.4% Cash 0.88% 2.5% Non-Core Fixed Income …
https://www.osc.ny.gov/press/releases/2016/06/dinapoli-state-pension-fund-value-1781-billionFiremen’s Benevolent Association of the Village of Le Roy – Oversight of the Association’s Foreign Fire Insurance Tax Moneys (2014M-026)
… Purpose of Audit The purpose of our audit was to examine internal controls over the Association’s receipt … Firemen's Benevolent Association of the Village of Le Roy is located in the Village of Le Roy, Genesee County. The purpose of the Association is to accumulate a fund for the relief of indigent and …
https://www.osc.ny.gov/local-government/audits/fire-district/2014/10/06/firemens-benevolent-association-village-le-roy-oversight-associationsDiNapoli Statement on Legislation Restoring Contract Review Authority
… statement today following the passage of A.7925-A in the Assembly which will statutorily restore the Office of … been removed. The legislation (S.6809-A) already passed in the Senate on May 18, 2022. “The Comptroller’s independent … good government and taxpayers. “I urge Governor Hochul to sign this bill.” Report Independent Oversight: OSC's Contract …
https://www.osc.ny.gov/press/releases/2022/06/dinapoli-statement-legislation-restoring-contract-review-authorityJamestown City School District – Financial Condition (2015M-120)
… by recurring revenues, thereby reducing the reliance on fund balance, reserves and other one-time financing …
https://www.osc.ny.gov/local-government/audits/school-district/2015/11/20/jamestown-city-school-district-financial-condition-2015m-120Montgomery County – Financial Condition (2013M-234)
… Purpose of Audit The purpose of our audit was to review the County’s financial condition … not adopt realistic and structurally balanced budgets and instead consistently relied on appropriating fund balance, a …
https://www.osc.ny.gov/local-government/audits/county/2013/10/04/montgomery-county-financial-condition-2013m-234One-Year FAS – Police and Fire Plan
… this benefit, your retirement will be calculated based on a one-year FAS unless the three-year calculation provides … and Longevity payment. All payments must be earned in the 12 months immediately preceding retirement. The … of payments are not considered regular compensation and, in most cases, will not be included in the one-year FAS …
https://www.osc.ny.gov/retirement/publications/1512/one-year-fasOne-Year FAS – Basic Plan with Increased-Take-Home-Pay (ITHP)
… this benefit, your retirement will be calculated based on a one-year FAS unless the three-year calculation provides … and Longevity payment. All payments must be earned in the 12 months immediately preceding retirement. The … of payments are not considered regular compensation and, in most cases, will not be included in your FAS calculation: …
https://www.osc.ny.gov/retirement/publications/1511/one-year-fasBloomingburg Joint Fire District – Internal Controls Over Financial Operations (2013M-42)
… The Treasurer also is responsible for performing online bank transfers. The Treasurer performs all of these …
https://www.osc.ny.gov/local-government/audits/fire-district/2013/04/19/bloomingburg-joint-fire-district-internal-controls-over-financialOne-Year FAS – Career Plan
… this benefit, your retirement will be calculated based on a one-year FAS unless the three-year calculation provides … and Longevity payment. All payments must be earned in the 12 months immediately preceding retirement. The … of payments are not considered regular compensation and, in most cases, will not be included in your one-year FAS …
https://www.osc.ny.gov/retirement/publications/1642/one-year-fasOne-Year FAS – New Career Plan
… calculation provides a higher FAS. (Note: This benefit is generally not available to Tier 6 members.) The one-year FAS includes only the … The calculation of a one-year FAS can include, but is not limited to, the following types of payments: Regular …
https://www.osc.ny.gov/retirement/publications/1515/one-year-fasOne-Year FAS – Non-Contributory Plan with Guaranteed Benefits
… this benefit, your retirement will be calculated based on a one-year FAS unless the three-year calculation provides … and Longevity payment. All payments must be earned in the 12 months immediately preceding retirement. The … of payments are not considered regular compensation and, in most cases, will not be included in the one-year FAS …
https://www.osc.ny.gov/retirement/publications/1513/one-year-fasFair Haven Volunteer Fire Department, Inc. – Financial Activity (2014M-335)
… or no Board oversight. The Board has not adopted a code of ethics. The Board did not review or approve the majority of … segregate duties and provide oversight. Adopt a code of ethics. Audit bills and approve them before payment. Ensure …
https://www.osc.ny.gov/local-government/audits/fire-company-or-department/2015/02/27/fair-haven-volunteer-fire-department-inc-financial-activityChatham Central School District – Financial Management (2023M-11)
… consistent practice of appropriating fund balance that is not needed and maintaining unreasonable reserve balances … over $1.3 million of fund balance they did not need or use to finance operations; therefore, taxpayers were taxed more … but the average annual workers’ compensation expense is $79,756. Key Recommendations Use reasonable appropriation …
https://www.osc.ny.gov/local-government/audits/school-district/2023/08/11/chatham-central-school-district-financial-management-2023m-11Village of Akron – Selected Financial Activities (2016M-133)
… Purpose of Audit The objective of our audit was to review the Village’s water operations and the … through December 22, 2015. Background The Village of Akron is located in the Town of Newstead in Erie County. The … Village, which has a population of approximately 3,000, is governed by an elected five-member Board of Trustees. The …
https://www.osc.ny.gov/local-government/audits/village/2016/08/26/village-akron-selected-financial-activities-2016m-133Wassaic Fire District – Purchasing and Claims Processing (2017M-8)
… Purpose of Audit The purpose of our audit was to examine the District’s purchasing practices and claims … 30, 2016. Background The Wassaic Fire District (District) is a district corporation of the State, distinct and separate … from the Town of Amenia, in Dutchess County. The District is governed by an elected five-member Board of Fire …
https://www.osc.ny.gov/local-government/audits/fire-district/2017/04/28/wassaic-fire-district-purchasing-and-claims-processing-2017m-8Groton Central School District – Financial Management (2014M-288)
… Purpose of Audit The purpose of our audit was to examine the District’s financial activities for the period … 21, 2014. Background The Groton Central School District is located in the Towns of Dryden, Groton and Lansing in … Locke and Summerhill in Cayuga County. The District, which is governed by an elected six-member Board of Education, …
https://www.osc.ny.gov/local-government/audits/school-district/2015/01/09/groton-central-school-district-financial-management-2014m-288Sayville Union Free School District – Financial Condition and Cellular Telephones (2015M-86)
… Purpose of Audit The objectives of our audit were to evaluate the District’s financial activities and cellular … 2014. Background The Sayville Union Free School District is located in the Town of Islip, Suffolk County. The District, which is governed by an elected seven-member Board of Education, …
https://www.osc.ny.gov/local-government/audits/school-district/2015/08/14/sayville-union-free-school-district-financial-condition-and-cellularTuckahoe Union Free School District – Financial Condition and Information Technology (2015M-152)
… Purpose of Audit The purpose of our audit was to evaluate the District’s financial condition and controls … 2015. Background The Tuckahoe Union Free School District is located in the Town of Eastchester, in Westchester County. … operates two schools with approximately 1,080 students, is governed by an elected five-member Board of Education. …
https://www.osc.ny.gov/local-government/audits/school-district/2015/10/16/tuckahoe-union-free-school-district-financial-condition-and-informationLynbrook Union Free School District – Special Programs (2016M-45)
… Purpose of Audit The purpose of our audit was to determine if the District established effective internal … 2015. Background The Lynbrook Union Free School District is located in the Town of Hempstead in Nassau County. The … operates seven schools with approximately 2,800 students, is governed by an elected seven-member Board of Education. …
https://www.osc.ny.gov/local-government/audits/school-district/2016/08/05/lynbrook-union-free-school-district-special-programs-2016m-45Mount Vernon Industrial Development Agency – Project Approval and Monitoring (2013M-364)
… Purpose of Audit The purpose of our audit was to determine if the Board of Directors applied a uniform … Background The Mount Vernon Industrial Development Agency is located in the City of Mount Vernon in Westchester County and is governed by a Board of Directors which includes the Mayor …
https://www.osc.ny.gov/local-government/audits/industrial-development-agency/2014/04/18/mount-vernon-industrial-development-agency-project-approval