New York State Comptroller Thomas P. DiNapoli announced today that the New York State Common Retirement Fund (Fund) has committed an additional $1.2 billion to its emerging manager program, increasing the total commitment to more than $5 billion. The program is designed to help diversify the Fund’s investments and expand its pool of investors. DiNapoli made the announcement at the Fund’s eighth annual Emerging Manager Conference.

The number of school districts overriding New York’s property tax cap declined by more than half over the past three fiscal years, dropping from 44 school districts in 2012-13 to only 19 in 2014-15, according to a report issued today by State Comptroller Thomas P. DiNapoli. The report also found low- and average-need districts were twice as likely to override the tax cap compared to high-need districts.

The Executive Budget holds down spending and boosts state reserves, according to a report released today by State Comptroller Thomas P. DiNapoli. At the same time, the proposed budget increases potential out-year gaps and gives the Executive new latitude to move and spend money outside the formal appropriation process, including billions of dollars in financial settlements.

Former New York State Assemblyman William Scarborough, 69, of Queens, New York, was sentenced today to 13 months in prison and two years of supervised release after being convicted of wire fraud and theft from a program receiving federal funds, announced State Comptroller Thomas P. DiNapoli, United States Attorney Richard S. Hartunian of the Northern District of New York, New York State Attorney General Eric T. Schneiderman, and Special Agent in Charge Andrew W. Vale of the Federal Bureau of Investigation, Albany Division.

Industrial Development Agencies (IDAs) in Niagara, Tompkins and Wyoming counties failed to adequately monitor project approvals or results, according to audits issued today by New York State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P.

New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued:

New York State Comptroller Thomas P. DiNapoli and Attorney General Eric T. Schneiderman today announced that Marc A. Eletz, 70, a resident of Boca Raton, Florida, pleaded guilty today to the crime of Grand Larceny in the Third Degree, a class D felony, in Albany County Court. The plea stems from charges that Mr. Eletz stole over $275,000 in New York State pension benefits that were issued to his deceased mother.

The Metropolitan Transportation Authority (MTA) set annual goals for minority- and women-owned business enterprise (MWBE) contracts at around 20 percent, lower than the target set in statute and did not give rationale for the lower target, according to an audit released today by State Comptroller Thomas P. DiNapoli. 

State agencies spent more than $337 million on overtime in the first six months of 2015, a jump of $21 million over the same period in 2014, New York State Comptroller Thomas P. DiNapoli announced today.