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NEWS from the Office of the New York State Comptroller
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New York City Construction Industry Booming

The construction industry in New York state has set employment records for four consecutive years with New York City accounting for half of the state’s construction job gains since 2010, according to a report released today by State Comptroller Thomas P. DiNapoli.

NY State Pension Fund and Church Commissioners for England Call for Exxon to Separate Board Chair and CEO Positions

New York State Comptroller Thomas P. DiNapoli on behalf of the New York State Common Retirement Fund (the Fund) and Edward Mason, Head of Responsible Investment at Church Commissioners for England, today announced their support for a shareholder proposal that calls on ExxonMobil to require the board chair be an independent member of the board. The two institutional investors also announced they would vote against all Exxon board directors at the company’s annual meeting this month.

State Contract and Payment Actions in March

In March, the Office of the State Comptroller approved 1,693 contracts for state agencies and public authorities valued at $9.6 billion and approved nearly 3.1 million payments worth more than $24.9 billion. The office rejected 127 contracts and related transactions valued at $540 million and more than 6,700 payments valued at nearly $25.4 million. More information on these contracts and payments is available at www.openbooknewyork.com.

DiNapoli Announces Elliott Auerbach to Oversee Local Government Division

State Comptroller Thomas P. DiNapoli announced today that he has appointed Elliott Auerbach as deputy comptroller for the Division of Local Government and School Accountability.

Auerbach will head the division responsible for monitoring the finances of local governments and school districts. He will manage auditing and budget reviews, training local officials, assigning fiscal stress scores to local communities, and studying issues facing local governments. He will direct seven regional offices and a staff of more than 300.

DiNapoli Releases Economic Snapshot of Long Island Highlighting Growth and Challenges

Many of Long Island’s 2.8 million residents enjoy a high quality of life, marked by low unemployment, low crime rates, strong public schools and infrastructure improvements, but they also contend with high taxes and home prices, and challenging commutes, according to a report on the Island’s economy released today by New York State Comptroller Thomas P. DiNapoli.

State Comptroller DiNapoli Releases Analysis of Enacted State Budget

The $175.5 billion State Fiscal Year (SFY) 2019-20 Enacted Budget includes actions to manage spending and generate nearly $1 billion in additional revenue this year, while providing increased funding for education, health care and mass transit, according to a report released today by State Comptroller Thomas P. DiNapoli. At the end of March, the Division of the Budget (DOB) also made the first deposit into the state’s rainy day reserves since 2015.

DiNapoli: State Tax Collections Decline $3.7 Billion in Fiscal Year 2018-19

Tax receipts for State Fiscal Year 2018-19 declined $3.7 billion, or 4.7 percent, from the previous year to $75.6 billion, according to the year-end state cash report released today by State Comptroller Thomas P. DiNapoli. The state ended its fiscal year on March 31 with a General Fund balance of $7.2 billion, higher than recent projections but a decline of $2.2 billion from the prior fiscal year.

DiNapoli: State Agency Overtime Pay Hits $787 Million

Overtime pay in 2018 at state agencies was at the highest level within the past decade, rising to $787 million, according to a report by State Comptroller Thomas P. DiNapoli. Overtime hours also rose, with 18.1 million hours worked.

“New York state’s overtime pay has seen significant growth in the past decade,” DiNapoli said. “As the state confronts increasingly high costs for overtime, New York needs to find ways to better manage costs while providing taxpayers with critical services.”