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State Medicaid Bought Erectile Dysfunction Drugs for Sex Offenders

The state’s Medicaid program paid more than $60,000 for sexual and erectile dysfunction (ED) drugs and treatments for 47 sex offenders, according to an audit released today by State Comptroller Thomas P. DiNapoli.

In total, Medicaid made more than $930,000 in payments for ED drugs and treatments for recipients, including sex offenders, that are barred under Medicaid.

State Contract and Payment Actions in April

In April, the Office of the State Comptroller approved 1,361 contracts for state agencies and public authorities valued at $4 billion and approved nearly 5.2 million payments worth more than $11 billion. The office rejected 116 contracts and related transactions valued at $950 million and nearly 5,400 payments valued at nearly $75 million. More information on these contracts and payments is available at www.openbooknewyork.com.

National Investors Call for Workplace Disability Inclusion

Investors representing more than $1 trillion in combined assets, led by New York State Comptroller Thomas P. DiNapoli and Oregon State Treasurer Tobias Read, today called on companies they invest in to create inclusive workplaces that can benefit from employing the millions of talented people with disabilities who remain underrepresented in the workforce.

DiNapoli: State Pension Fund Value $210.2 Billion

New York State Comptroller Thomas P. DiNapoli today announced the New York State Common Retirement Fund (Fund) earned an estimated 5.23 percent return on investments in the state fiscal year (SFY) that ended on March 31, 2019. The Fund closed the year with an estimated value of $210.2 billion, which is subject to change once returns are fully audited. The Fund’s audited value at the end of state fiscal year 2018 was $207.4 billion.

NY State Pension Fund and Church Commissioners for England Call for Exxon to Separate Board Chair and CEO Positions

New York State Comptroller Thomas P. DiNapoli on behalf of the New York State Common Retirement Fund (the Fund) and Edward Mason, Head of Responsible Investment at Church Commissioners for England, today announced their support for a shareholder proposal that calls on ExxonMobil to require the board chair be an independent member of the board. The two institutional investors also announced they would vote against all Exxon board directors at the company’s annual meeting this month.

State Contract and Payment Actions in March

In March, the Office of the State Comptroller approved 1,693 contracts for state agencies and public authorities valued at $9.6 billion and approved nearly 3.1 million payments worth more than $24.9 billion. The office rejected 127 contracts and related transactions valued at $540 million and more than 6,700 payments valued at nearly $25.4 million. More information on these contracts and payments is available at www.openbooknewyork.com.

State Comptroller DiNapoli Releases Analysis of Enacted State Budget

The $175.5 billion State Fiscal Year (SFY) 2019-20 Enacted Budget includes actions to manage spending and generate nearly $1 billion in additional revenue this year, while providing increased funding for education, health care and mass transit, according to a report released today by State Comptroller Thomas P. DiNapoli. At the end of March, the Division of the Budget (DOB) also made the first deposit into the state’s rainy day reserves since 2015.

DiNapoli: State Tax Collections Decline $3.7 Billion in Fiscal Year 2018-19

Tax receipts for State Fiscal Year 2018-19 declined $3.7 billion, or 4.7 percent, from the previous year to $75.6 billion, according to the year-end state cash report released today by State Comptroller Thomas P. DiNapoli. The state ended its fiscal year on March 31 with a General Fund balance of $7.2 billion, higher than recent projections but a decline of $2.2 billion from the prior fiscal year.

DiNapoli: State Agency Overtime Pay Hits $787 Million

Overtime pay in 2018 at state agencies was at the highest level within the past decade, rising to $787 million, according to a report by State Comptroller Thomas P. DiNapoli. Overtime hours also rose, with 18.1 million hours worked.

“New York state’s overtime pay has seen significant growth in the past decade,” DiNapoli said. “As the state confronts increasingly high costs for overtime, New York needs to find ways to better manage costs while providing taxpayers with critical services.”

DiNapoli Releases Recommendations From Decarbonization Advisory Panel

State Comptroller Thomas P. DiNapoli today released the report from the Decarbonization Advisory Panel. The report examines the financial impacts of climate change on the New York State Common Retirement Fund (Fund) and recommends ways for the Fund to build on its climate change work to protect and add value for the public workers that rely on it for retirement.