State Comptroller DiNapoli Releases Audits
New York State Comptroller Thomas P. DiNapoli announced today the following audits and examinations have been issued.
New York State
DiNapoli: Comprehensive Planning Needed for Billions in State Infrastructure Spending
New York state expects to spend an average of $13.4 billion in each of the next five years on capital projects, but would benefit from a more comprehensive assessment of its capital assets and needs, according to a report released today by State Comptroller Thomas P. DiNapoli.
State Pension Employer Contribution Rates Announced for 2020-21, Assumed Rate of Return Lowered
New York State Comptroller Thomas P. DiNapoli today announced the New York State and Local Retirement System (NYSLRS) employer contribution rates for State Fiscal Year 2020-21 will remain the same as the previous year for the Employees’ Retirement System (ERS) with a small increase in rates for the Police and Fire Retirement System (PFRS).
DiNapoli is also dropping the long-term assumed rate of return on investments from 7 percent to 6.8 percent, anticipating a lower return investment environment.
State Contract and Payment Actions in July
In July, the Office of the State Comptroller approved 1,627 contracts for state agencies and public authorities valued at $2.9 billion and approved more than 1.8 million payments worth nearly $7.9 billion. The office rejected 123 contracts and related transactions valued at $250 million and nearly 1,300 payments valued at more than $9.8 million. More information on these contracts and payments is available at www.openbooknewyork.com.
DiNapoli: Farms Generated $5.7 Billion for New York Economy
New York state farms generated $5.7 billion in revenue in 2017, according to a report released today by State Comptroller Thomas P. DiNapoli.
DiNapoli: State Medicaid Program Made More Than $100 Million in Duplicate Payments
New York state paid more than $100 million in duplicate payments to managed care organizations (MCOs) for premiums over a more than four year period, according to an audit released today by State Comptroller Thomas P. DiNapoli.
NYS Common Retirement Fund Reports First Quarter Results
The New York State Common Retirement Fund’s (Fund) estimated return in the first quarter of the State Fiscal Year (SFY) 2019-20 was 3.38 percent for the three-month period ending June 30, 2019, raising its estimated value to $216.2 billion, according to New York State Comptroller Thomas P. DiNapoli.
Health Department Needs to Step-Up Oversight of Lead Poisoning Prevention Program
The state Department of Health (DOH) needs to improve its monitoring of New York’s Lead Poisoning Prevention Program on the local level to ensure children with elevated blood lead levels are receiving required services, according to an audit released today by State Comptroller Thomas P. DiNapoli.
DiNapoli Appoints Anastasia Titarchuk Chief Investment Officer of the New York State Common Retirement Fund
New York State Comptroller Thomas P. DiNapoli today announced his appointment of Anastasia Titarchuk as chief investment officer of the New York State Common Retirement Fund. Titarchuk has served as the Fund’s interim CIO since July 2018.
State Contract and Payment Actions in June
In June, the Office of the State Comptroller approved 1,481 contracts for state agencies and public authorities valued at nearly $1.8 billion and approved nearly 1.7 million payments worth more than $10.5 billion. The office rejected 131 contracts and related transactions valued at $980 million and nearly 1,600 payments valued at more than $9.8 million. More information on these contracts and payments is available at www.openbooknewyork.com.