The New York State Common Retirement Fund’s (Fund) estimated return in the third quarter of the State Fiscal Year (SFY) 2021-22 was 4.74% for the three-month period ending Dec. 31, 2021, according to New York State Comptroller Thomas P. DiNapoli. It ended the quarter with an estimated value of $279.7 billion.
Although the state Division of the Budget (DOB) forecasts in the State Fiscal Year (SFY) 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, according to a review by New York State Comptroller Thomas P. DiNapoli. The budget also proposes billions of dollars in spending that would bypass critical oversight if enacted.
New York State Comptroller Thomas P. DiNapoli, as trustee of the New York State Common Retirement Fund (Fund), has filed shareholder proposals with portfolio companies Activision Blizzard Inc., Tesla Inc. and Starbucks Corp. requesting they report on their efforts to prevent harassment and discrimination against employees and steps taken to improve workforce management.
The New York Power Authority (NYPA) has failed to install electric vehicle (EV) chargers where they are most needed by New York’s nearly 50,000 registered EVs, leaving nearly half of the state’s counties without any NYPA-installed charging stations, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.
While the Dedicated Highway and Bridge Trust Fund was intended to provide a reliable, dedicated stream of funding for the State’s transportation projects, it long ago ceased to serve this purpose and is now largely devoted to repaying past borrowings and supporting current operating costs. As a result, vital highway and bridge projects are at increased risk because the State continues to use these limited resources primarily for purposes other than financing current capital projects.
Highway and bridge projects have been shortchanged because the state continues to use money in the Dedicated Highway and Bridge Trust Fund (DHBTF) to pay down debt from past projects and cover the operating costs for state agencies, according to a report by New York State Comptroller Thomas P. DiNapoli.
In December, the Office of the State Comptroller approved 1,484 contracts for state agencies and public authorities valued at $1.6 billion and approved more than 2.1 million payments worth more than $13.6 billion. The office rejected 124 contracts and related transactions valued at $425.3 million and nearly 5,500 payments valued at more than $7 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.
The New York State Office for the Aging (NYSOFA) failed to spend millions of dollars on programs geared to support senior citizens, even during the COVID-19 pandemic when the need was greater, according to an audit released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli and the state’s pension fund today announced the filing of shareholder proposals seeking an independent audit of companies’ practices related to racial equity.
New York State Comptroller Thomas P. DiNapoli released the following statement on Governor Hochul’s executive budget proposal:
“Governor Hochul introduced an executive budget proposal at a critical moment in our state’s history. As we continue our recovery we are faced with many challenges, but the proposed budget sets forth the Governor’s priorities to address them while also recognizing the importance of achieving and maintaining long-term structural budget balance.
