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NEWS from the Office of the New York State Comptroller
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DiNapoli: State Pension Fund Valued at $267.7 Billion at End of First Quarter

New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $267.7 billion at the end of the first quarter of state fiscal year 2024-25. For the three-month period ending June 30, 2024, Fund investments returned an estimated 1.38%.

DiNapoli Audit: ESD Needs To Increase Transparency of Its Real Estate Holdings and Sales of Properties Below Fair Market Value

The State’s Empire State Development agency (ESD) has not been meeting statutory requirements to provide accurate, annual reports of its real estate holdings, and has sold several for as little as $1 with insufficient information about the economic benefits of the transfer compared to the fair market value of the property, a new audit from State Comptroller Thomas P. DiNapoli found.

DiNapoli: NYC Finances Continue To Benefit From Better Than Projected Revenue but Spending Pressures Remain

New York City’s finances continue to benefit from better-than-projected revenues and savings generated through initiatives launched in response to its financial challenges, but the continued influx of asylum seekers, elevated demand for city programs and a declining surplus demand preparation to navigate future uncertainty, according to a report on the city’s Financial Plan released today by State Comptroller Thomas P. DiNapoli.

State Contract and Payment Actions in June

In June, the Office of the State Comptroller approved 1,909 contracts for state agencies and public authorities valued at $7.3 billion and approved more than 1.8 million payments worth more than $14.1 billion. The office rejected 262 contracts and related transactions valued at $5.5 billion and nearly 3,100 payments valued at more than $7.2 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.

State Comptroller DiNapoli Details Progress on Corporate Political Spending Disclosure

During the 2024 proxy season, three portfolio companies agreed to publicly disclose their political spending while proposals at three other companies won significant support from shareholders, State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund (Fund), announced today. DiNapoli also announced that he called on 16 companies, including Tesla Inc., Domino’s Pizza Inc., and Garmin Ltd., requesting similar comprehensive disclosure of political spending.

DiNapoli, Erie Co. Da Keane and Erie Co. Sheriff Garcia: Former Erie County Deputy Clerk Pleads Guilty to Stealing More Than $320,000

Former Deputy Erie County Clerk Alexander McDougall today pleaded guilty to felony counts of grand larceny and offering a false instrument for filing for stealing over $320,000 in county funds, State Comptroller Thomas P. DiNapoli, Acting Erie County District Attorney Michael J. Keane, and Erie County Sheriff John C. Garcia announced.