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2023 Financial Condition Report

Despite significant uncertainty caused by inflation and other factors, State Fiscal Year (SFY) 2022-23 reflected continuing recovery from COVID-19 and economic growth. 

State Contract and Payment Actions in August

In August, the Office of the State Comptroller approved 2,185 contracts for state agencies and public authorities valued at $2.8 billion and approved nearly 2 million payments worth more than $11.1 billion. The office rejected 231 contracts and related transactions valued at $391 million and nearly 1,800 payments valued at more than $12.8 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.

DiNapoli: Great Demand For NYS General Obligation Bonds Allows State to Reduce Costs to Taxpayers

State Comptroller Thomas P. DiNapoli yesterday awarded through negotiated sale $572,715,000 of New York State General Obligation (GO) Bonds. After a one-day retail and institutional order period, the State received total orders of over $1.6 billion or 2.8 times the amount of bonds offered, which allowed the State to reduce yields in many maturities. Ultimately, retail orders supported over 55 percent of the total bond sale, of which 85 percent was from New York retail buyers. The true interest cost of the GO Bonds was 3.99 percent.

DiNapoli: Former Medical Office Manager Arrested for Scheme to Defraud the New York State Health Insurance Plan

New York State Comptroller Thomas P. DiNapoli, announced the arrest yesterday of Gina Bradshaw, an officer manager for numerous doctors’ offices in Manhattan, for her alleged role in a long-term scheme to defraud the New York State Insurance Plan (NYSHIP) out of over $12,000 by submitting fraudulent claims for reimbursement. The arrest was the result of a joint investigation between Comptroller DiNapoli, Ulster County District Attorney Clegg, and the FBI Hudson Valley White Collar Crime Task Force.

2023 Annual Financial Report of the New York Environmental Protection and Spill Compensation Fund, September 2023

As required by Section 196 of the Navigation Law, the Comptroller prepares an annual report to the State Legislature and the Governor. The report includes: a description of the costs and damages paid by and recovered for the Fund; the monies spent pursuant to Section 186 (including amounts spent for oil spill prevention, training activities and equipment purchased), and the economic and environmental impacts on the State.

DiNapoli Urges Focus on Addressing Rural Challenges

New York State Comptroller Thomas P. DiNapoli today released a report examining demographic, economic and quality of living trends in 10 rural counties in New York state. Most of the counties had population losses, aging residents, a shrinking labor force, as well as challenges with housing availability and access to health care, food and broadband.

Rural New York: Challenges and Opportunities

This report examines comparative data for 10 rural counties in New York to identify challenges faced by these communities and others like them, as well as opportunities. Population, employment, housing and other trends were considered, and these findings can be used as a baseline from which future trends can be measured. The median age of people living in these 10 rural counties increased at nearly twice the rate of the State between 2011 and 2021 while simultaneously population numbers declined.

2022 Corporate Governance Stewardship Report, September 2023

The Corporate Governance Program supports and facilitates the integration of environmental, social and governance (ESG) factors in the Common Retirement Fund’s due diligence process, investment decisions, and performance monitoring program, and provides active stewardship of the Fund’s public equity holdings.