New York State Comptroller Thomas P. DiNapoli today announced $800 million in recent investments through the New York State Common Retirement Fund’s (Fund) Sustainable Investments and Climate Solutions program.
Despite projections for healthy gains in tax receipts and continued growth in the economy, the State Fiscal Year (SFY) 2020-21 Executive Budget reflects significant fiscal challenges related, in part, to higher than expected spending in the Medicaid program, according to an analysis released today by New York State Comptroller Thomas P. DiNapoli.
"The state has to close a more than $6 billion budget gap and is contending with a significant jump in Medicaid spending. Notably, the state's fiscal problems arise at a time when our economy is relatively strong and tax collections are more than $1 billion above projections for the year.
“The Executive budget tackles some tough issues but we need to more closely examine the specifics and the broader impact of these proposals. The Medicaid Redesign Team is faced with the challenge of identifying $2.5 billion in realistic, long-term changes by April 1.
New York State Comptroller Thomas P. DiNapoli today released four audits of the state Department of Health’s (DOH) oversight of the Medicaid program. The audits identified approximately $790 million in savings from eliminating unnecessary payments and collecting rebates from drug makers.
New York paid $26.6 billion more in taxes to the federal government in federal fiscal year (FFY) 2018 than it got back in federal spending, ranking it last among the states, according to a report released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli today announced that Andrew Siwo has joined the New York State Common Retirement Fund (Fund) as its first-ever director of Sustainable Investments and Climate Solutions to support the implementation of the Fund’s Climate Action Plan.
“Governor Cuomo put forth dozens of proposals to tackle big and small issues. His ambitious proposals hit on some important issues that we can address here in New York, in contrast to the gridlock we are witnessing in Washington.
“The focus now turns to how the state will pay for these proposals and the Executive budget will be released soon. There are tough decisions to be made to balance the budget while addressing the growing costs and cracks in the Medicaid program. We mustn’t push these challenges off to future years. We need long-term solutions.”
New York State Comptroller Thomas P. DiNapoli is urging New Yorkers this holiday season to read the fine print on gift cards for details about fees and expiration dates. While some gift cards sellers have eliminated inactivity fees, consumers should still ask whether fees apply. DiNapoli also reminds recipients to spend their new gift cards in a timely manner, otherwise the money could eventually get turned over to the Office of Unclaimed Funds.
New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.
In November, the Office of the State Comptroller approved 1,411 contracts for state agencies and public authorities valued at $6.4 billion and approved nearly 2.1 million payments worth more than $9.5 billion. The office rejected 139 contracts and related transactions valued at $710 million and nearly 1,400 payments valued at more than $13.9 million. More information on these contracts and payments is available at www.openbooknewyork.com.
