The New York State Common Retirement Fund and The Church Commissioners for England have today written an open letter to ExxonMobil shareholders in advance of the ExxonMobil annual shareholders’ meeting, which takes place on May 27, 2020, in Dallas, Texas. The open letter calls on shareholders to join the two institutions, who lead engagement with ExxonMobil as part of the Climate Action 100+ initiative, and make clear, via their voting, that the time has come for change in the governance and strategy of the corporation.

New York State Comptroller Thomas P. DiNapoli today applauded Governor Cuomo’s Executive Order waiving the statutory 15-day waiting period before a public employee’s service retirement can take effect. DiNapoli requested the Executive Order in order to safeguard benefits for families who may lose a loved one to COVID-19 before their service retirement can be made official. The Executive Order applies to member of the New York State and Local Retirement System.

The coronavirus pandemic has caused extraordinary economic challenges in New York with punishing, still-evolving impacts on public health, jobs, the economy and state finances. As a result, the enacted state budget leaves greater uncertainty for school districts, health care providers and local governments this year than ever before, according to a report released today by New York State Comptroller Thomas P. DiNapoli.

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

According to a report released today by State Comptroller Thomas P. DiNapoli, New York closed out the state fiscal year on March 31 with cash-on-hand in the General Fund of $8.9 billion, or $2.4 billion above projections. The state will face cash flow challenges as soon as next month due to billions in state aid payments for health and education, delayed state tax revenues and additional spending to fight the coronavirus.

“The state Legislature and Governor agreed on a new budget during an extraordinarily difficult time. The economic and budgetary impact from the coronavirus public health emergency presents our state with unprecedented risks. Unanticipated healthcare costs, dramatically increased unemployment and depressed business activity affects all state and local government finances. Moving forward, the Comptroller’s office will continue our role of monitoring revenues, spending, debt and cash flow trends.

“Our analysis of the new budget will be forthcoming.”

New York State Comptroller Thomas P. DiNapoli today issued a revenue projection for the 2020-2021 state budget which reflects an estimate of the economic impact and ongoing volatility stemming from the spread of the coronavirus (COVID-19). DiNapoli estimates tax revenue will be at least $4 billion below the projections in the Executive Budget of $87.9 billion. He also offered one alternative scenario if a more severe recession or sharper declines in the stock market occur, which could lower tax revenues by more than $7 billion.

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

An audit released today by New York State Comptroller Thomas P. DiNapoli found the Office of Temporary and Disability Assistance (OTDA) continues to provide inadequate oversight of homeless shelters, allowing unsafe conditions that pose significant health and safety risks.

Coca Cola Co. will consider the wages it pays all of its employees when setting executive salaries, aiming to bring them into closer alignment, State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund (Fund), announced today. In response to the agreement, the Fund withdrew its shareholder resolution with the Atlanta-based beverage giant.