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Federal Relief Aid Temporarily Reverses Trend of NY Sending More to Washington Than It Gets Back

Historic relief funds from the federal government, provided in response to the COVID-19 pandemic, boosted New York’s per capita balance of payments from Washington from second-to-last in federal fiscal year (FFY) 2019 to 40th in FFY 2020 among states, according to a report released by New York State Comptroller Thomas P. DiNapoli. New York received $146 billion, or $7,236 per capita, more in federal spending than residents paid in total taxes to the federal government in FFY 2020.

NYS Comptroller DiNapoli Prohibits New Russian Investments and Directs Investment Review

New York State Comptroller Thomas P. DiNapoli has directed staff to prohibit all new investments in Russian companies and to review the New York State Common Retirement Fund’s (Fund) current investments and assess whether they present financial risks that warrant further restrictions or divestment. He is also reaching out to the Fund’s investment managers to urge them to conduct a similar examination to mitigate investment risk and minimize market impact.

State Contract and Payment Actions in January

In January, the Office of the State Comptroller approved 1,323 contracts for state agencies and public authorities valued at $3.3 billion and nearly 1.9 million payments worth nearly $11 billion. The office rejected 69 contracts and related transactions valued at $109.5 million and more than 3,400 payments valued at nearly $7.6 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.

State Comptroller DiNapoli Statement on Boeing Lawsuit Settlement

New York State Comptroller Thomas P. DiNapoli issued the following statement today regarding the approval of the settlement of the derivative lawsuit the New York State Common Retirement Fund (Fund) and the Fire and Police Pension Association of Colorado (FPPA) filed against the directors of The Boeing Company. State Comptroller DiNapoli, as trustee of the Fund, and the FPPA were appointed co-lead plaintiffs in the lawsuit.

Green and Growing: Employment Opportunities in New York's Sustainable Economy, February 2022

The number of jobs influenced by the green economy in New York exceeded one million in 2019 and 2020. New York’s efforts to promote sustainability not only encourage the creation of new jobs related to clean energy and energy efficiency, but they can also affect employment more broadly, requiring new skills in existing occupations and increasing demand for others. The State must fund educational and workforce development programs to grow the green economy and help bolster New York’s pandemic recovery.

DiNapoli: Corporate America Must Show Progress on Diversity, Equity & Inclusion

New York State Comptroller Thomas P. DiNapoli today announced the New York State Common Retirement Fund’s (Fund) efforts to increase corporate accountability for progress on diversity, equity and inclusion (DEI) issues. DiNapoli’s approach seeks action from corporations to ensure racial equity while holding them accountable for failing to ensure DEI throughout all levels of their companies.

Green Economy Boosts Job Growth in New York

New York State Comptroller Thomas P. DiNapoli today released a report showing that New York’s environment and sustainability initiatives are creating new green occupations, as well as creating additional demand for existing occupations and changing the skills required to fulfill others. In total, these occupations made up over 17% of all jobs in the state pre-pandemic. He urged the state to fund more educational and workforce development programs to grow the green economy and help bolster New York’s pandemic recovery.

New York State Fiscal Year 2022-23 Executive Budget Review

Although the Division of the Budget forecasts in the State Fiscal Year 2022-23 Executive Budget that the budget will remain in balance for the next five years, the direction of the pandemic, inflation, and supply chain issues all remain risks to the state’s economic recovery and financial plan. The budget also proposes billions of dollars in spending that would bypass critical oversight if enacted.

DiNapoli Restricts Investments in 21 Shale Oil & Gas Companies

The New York State Common Retirement Fund (Fund) will restrict investments in 21 shale oil and gas producing companies, including Pioneer Natural Resources Co., Hess Corp. and Chesapeake Energy Corp., that have failed to demonstrate they are prepared for the transition to a low-carbon economy, New York State Comptroller Thomas P. DiNapoli, trustee of the Fund, announced today.