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City of Salamanca – Selected Financial Activities (2015M-284)
… City, which has approximately 6,000 residents, is governed by a five-member City Council. Budgeted appropriations for … did not follow the tax enforcement procedures prescribed by the City charter and local laws. The Council did not adopt …
https://www.osc.ny.gov/local-government/audits/city/2016/03/04/city-salamanca-selected-financial-activities-2015m-284Falconer Central School District – Financial Management (2024M-52)
… excess of the legal limit or to provide a funding source for capital projects without voter approval is misleading and …
https://www.osc.ny.gov/local-government/audits/school-district/2024/08/09/falconer-central-school-district-financial-management-2024m-52Henrietta FD – Audit Follow-Up (2021M-27-F)
… Fire District’s (District’s) progress, as of January 2025, in implementing our recommendations in the audit report Henrietta Fire District – Financial Condition (2021M-27) released in July 2021. The audit determined that the Board of …
https://www.osc.ny.gov/local-government/audits/fire-district/2025/04/04/henrietta-fd-audit-follow-2021m-27-fDiNapoli: State Pension Fund Value $206.9 Billion
… March 31, 2018. The Fund ended the year with an estimated value of $206.9 billion, which is subject to change once returns are fully audited. The Fund’s value at the end of state fiscal year 2017 was $192.4 … billion. “The New York State Common Retirement Fund’s value rose with help from strong markets through most of the …
https://www.osc.ny.gov/press/releases/2018/05/dinapoli-state-pension-fund-value-2069-billionState Comptroller DiNapoli Releases Audits
… costs. State Education Department: Hagedorn Little Village School, Compliance with the Reimbursable Cost Manual … year ended June 30, 2015, the personal service costs the school reported for reimbursement that auditors tested were … $10,040 in other than personal service costs the school reported that did not comply with SED's requirements …
https://www.osc.ny.gov/press/releases/2017/08/state-comptroller-dinapoli-releases-auditsOpinion 92-39
… guarantees of either the State or Federal Constitutions (NY Const, art I, §11, US Const, 14th amend), or the voter … 355, 101 S Ct 1011, 68 L Ed2d 150 (1981), which upheld a land ownership requirement in an election of directors of a … aware in which the Ball rationale has been rejected and a land ownership requirement stricken were Quinn v Millsap , …
https://www.osc.ny.gov/legal-opinions/opinion-92-39Tax Cap Compliance
Find information on Tax Cap Compliance below
https://www.osc.ny.gov/local-government/property-tax-cap/tax-cap-complianceOpinion 92-32
… society for restoration and preservation. The town, by local law, may authorize the purchase price to be paid to the town on an installment basis, secured by a purchase-money mortgage. You inquire about the propriety … Thus, as a general rule, unless otherwise authorized by statute, a town may not purchase real property for the …
https://www.osc.ny.gov/legal-opinions/opinion-92-32State Comptroller DiNapoli Releases Municipal Audits
… Town of Aurora – Real Property Acquisition and Sale (Erie County) Auditors estimate the town sold the Southside … price. Town of Roseboom – Long-Term Planning (Schoharie County) The town's major pieces of equipment are beyond their … on equipment repairs. Town of Stafford – Procurement (Genesee County) Officials did not always obtain quotes in …
https://www.osc.ny.gov/press/releases/2018/09/state-comptroller-dinapoli-releases-municipal-audits-0Baldwinsville Central School District – Financial Management (2016M-65)
… of Audit The purpose of our audit was to examine the District’s financial management practices for the period July 1, 2014 through October 31, 2015. Background The Baldwinsville Central School District is located in the Towns of Clay, Lysander and …
https://www.osc.ny.gov/local-government/audits/school-district/2016/06/17/baldwinsville-central-school-district-financial-management-2016m-65Opinion 96-19
… (joint acquisition of real property by town and fire district for construction purposes) TOWNS -- Powers and Duties (joint purchase with fire district of real property and construction of building for … LAW, §§64(2), 81(1)(c), 176(14), 220(3): A town and a fire district located therein may, pursuant to General Municipal …
https://www.osc.ny.gov/legal-opinions/opinion-96-19Opinion 93-4
… be authorized by a two-thirds vote of the town board and is neither subject to mandatory referendum nor is the town board authorized to provide for a referendum on … tax certiorari judgment and, if so, whether the resolution is subject to referendum or a super-majority vote of the …
https://www.osc.ny.gov/legal-opinions/opinion-93-4Selected Controls Over the Property Tax Assessment Process
… more than three units, Market Value (MV) is determined by using income and expense data reported by those or similar rental properties. DOF acquires income … to capture market conditions, and the MV is determined by applying a capitalization rate (expected rate of return …
https://www.osc.ny.gov/state-agencies/audits/2017/07/11/selected-controls-over-property-tax-assessment-processFare Revenue Considerations for the Metropolitan Transportation Authority
… its projected budget gaps. These gaps were exacerbated by the pandemic, which took a substantial toll on ridership … and economic risks, detailed in an October 2022 report by the Office of the State Comptroller (OSC) . The forecasted … eventually require the MTA to balance its budget either by raising revenue or reducing expenses. Current MTA …
https://www.osc.ny.gov/reports/osdc/fare-revenue-considerations-metropolitan-transportation-authorityNYS Common Retirement Fund Announces Third Quarter Results
… March 31, 2015. … The New York State Common Retirement Funds Fund overall return in the third quarter of the state … the threemonth period ending December 31 2014 bringing the Funds estimated value to $1817 billion according to New York …
https://www.osc.ny.gov/press/releases/2015/02/nys-common-retirement-fund-announces-third-quarter-resultsNYS Common Retirement Fund Announces Third Quarter Results
… international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (27.6 … 2009, DiNapoli initiated quarterly performance reporting by the Fund as part of his on-going efforts to increase … 80 percent of the cost of benefit payments has been funded by investment returns. The Fund’s fiscal year ends March 31, …
https://www.osc.ny.gov/press/releases/2014/02/nys-common-retirement-fund-announces-third-quarter-resultsNYS Common Retirement Fund Announces First Quarter Results
… international public equities. The remaining Fund assets by allocation are invested in cash (1.5 percent), Treasury … DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to …
https://www.osc.ny.gov/press/releases/2015/08/nys-common-retirement-fund-announces-first-quarter-resultsDiNapoli: NYS Common Retirement Fund Rises to Estimated $180.7 Billion
… of the fund reflects earnings over the quarter, offset by benefit payments. “The New York State Common Retirement … in non-U.S. and global equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (26.6 … DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to …
https://www.osc.ny.gov/press/releases/2014/08/dinapoli-nys-common-retirement-fund-rises-estimated-1807-billionNYS Common Retirement Fund Announces First Quarter Results
… quarter of the state fiscal year 2017-2018 was 2.9 percent for the period ending June 30, 2017, with an estimated value … said. "As a long term investor, the fund's performance is best measured by its success over a period of years if not … The Fund has consistently been ranked as one of the best managed and best funded plans in the nation. The Fund's …
https://www.osc.ny.gov/press/releases/2017/08/nys-common-retirement-fund-announces-first-quarter-resultsNYS Common Retirement Fund Announces Second Quarter Results
… of the Fund’s 2015-2016 fiscal year was -4.13 percent for the three-month period ending Sept. 30, 2015, according … weather such ups and downs and provide retirement security for generations to come. While we’ve seen some recovery in … quarter, there is no question that this is a tough year for investors.” The Fund's estimated value reflects benefits …
https://www.osc.ny.gov/press/releases/2015/11/nys-common-retirement-fund-announces-second-quarter-results