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NEWS from the Office of the New York State Comptroller
Contact: Press Office 518-474-4015

DiNapoli: Albany Challenged by Budgetary, Demographic Factors

The city of Albany’s economy has been stabilized by state government and new industries, but is troubled by high poverty and a reduced tax base due to a large number of vacant and tax-exempt properties, according to a report issued today by State Comptroller Thomas P. DiNapoli. The report is part of DiNapoli’s fiscal stress initiative and is the latest in a series of fiscal profiles on municipalities across the state.

Newburgh Fire Chief Charged in White Plains Federal Court with Fraudulently Obtaining Retirement Benefits

Thomas P. DiNapoli, New York State Comptroller, Preet Bharara, United States Attorney for the Southern District of New York, and Diego Rodriguez, the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (FBI) announced the indictment of MICHAEL J. VATTER, the Chief of the Newburgh Fire Department, charging him with fraudulently obtaining approximately $95,000 in pension benefits by failing to report his return to work in the public sector to the New York State and Local Police and Fire Retirement System.

DiNapoli: Billions Needed for Repairs to Local Bridges

Bridges owned by New York’s local governments need an estimated $27.4 billion in repairs, according to a report released today by New York State Comptroller Thomas P. DiNapoli.

While the cost for repairs is staggering, DiNapoli’s report found the number of "structurally deficient" locally-owned bridges has declined in recent years. But concerns about how local governments will find funding for repairs is growing as Washington considers changes to infrastructure aid.

DiNapoli: Under New Tax Cap Calculation, School District Tax Levy Growth Near Zero

Property tax levy growth for school districts will be capped at 0.12 percent above current levels for the 2016-17 fiscal year, according to data released today by State Comptroller Thomas P. DiNapoli. The latest calculation affects the tax cap calculations for 677 school districts as well as 10 cities, including the “Big Four” cities of Buffalo, Rochester, Syracuse and Yonkers.

Global Investor Coalition Calls on Exxon to Prepare for a Lower Carbon Future

A group of investors led by New York State Comptroller Thomas P. DiNapoli and the Church of England are urging ExxonMobil to disclose the resilience of its business model in the wake of the Paris Agreement on climate change. The group of investors, including co-filers the Vermont State Employees' Retirement System, the University of California Retirement Plan and The Brainerd Foundation, represents nearly $300 billion in assets under management and more than $1 billion in Exxon shares.