The New York State Common Retirement Fund’s (Fund) estimated return in the third quarter of the State Fiscal Year (SFY) 2021-22 was 4.74% for the three-month period ending Dec. 31, 2021, according to New York State Comptroller Thomas P. DiNapoli. It ended the quarter with an estimated value of $279.7 billion.
Although the state Division of the Budget (DOB) forecasts in the State Fiscal Year (SFY) 2022-23 Executive Budget that the budget will remain in balance for the next five years, the direction of the pandemic, inflation, and supply chain issues all remain risks to the state’s economic recovery and financial plan, according to a review by New York State Comptroller Thomas P. DiNapoli. The budget also proposes billions of dollars in spending that would bypass critical oversight if enacted.
New York State Comptroller Thomas P. DiNapoli, as trustee of the New York State Common Retirement Fund (Fund), has filed shareholder proposals with portfolio companies Activision Blizzard Inc., Tesla Inc. and Starbucks Corp. requesting they report on their efforts to prevent harassment and discrimination against employees and steps taken to improve workforce management.
The New York Power Authority (NYPA) has failed to install electric vehicle (EV) chargers where they are most needed by New York’s nearly 50,000 registered EVs, leaving nearly half of the state’s counties without any NYPA-installed charging stations, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli today announced the following audits were issued.
New York City’s uneven recovery will present evolving challenges over the next few years, New York State Comptroller Thomas P. DiNapoli said today in remarks to the Association for a Better New York (ABNY). Sharp declines in the city’s workforce, combined with revenue uncertainty for key programs as federal aid winds down, may test the city’s ability to respond to demands for critical services just as it is trying to ensure a robust and broad recovery, DiNapoli said.
Highway and bridge projects have been shortchanged because the state continues to use money in the Dedicated Highway and Bridge Trust Fund (DHBTF) to pay down debt from past projects and cover the operating costs for state agencies, according to a report by New York State Comptroller Thomas P. DiNapoli.
In December, the Office of the State Comptroller approved 1,484 contracts for state agencies and public authorities valued at $1.6 billion and approved more than 2.1 million payments worth more than $13.6 billion. The office rejected 124 contracts and related transactions valued at $425.3 million and nearly 5,500 payments valued at more than $7 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.
Local governments across New York State spent $2 billion on road maintenance, repairs and upgrades in local fiscal year (FY) 2020, a decline of 7% since 2010 when adjusted for inflation, according to a report by New York State Comptroller Thomas P. DiNapoli. Some local communities put road projects on hold during the pandemic, but an influx of federal money is expected to jump start projects at the same time the Executive is proposing more funding for road repair and improvements.
The city of Mount Vernon faced financial uncertainty and problems because it lacked critical operational controls over finances, electronic banking, purchasing goods and services and segregating financial duties, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
