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Upstate Transportation Authorities Suffer Revenue Plunge

The COVID-19 pandemic created unprecedented challenges for the State’s regional transportation authorities by disrupting operations, decreasing ridership, and severely reducing revenues; however, these authorities reported that federal aid helped them weather pandemic deficits. If ridership continues to languish and does not return to pre-pandemic levels, the authorities will need additional revenue from other sources to continue to provide services at current levels—or may be faced with limiting services.

DiNapoli: Problems Plague State's Rent Relief Program; Federal Funds To Help Renters at Risk

Financial relief has been slow to reach New York’s pandemic-hit renters because of poor management by the Office of Temporary and Disability Assistance (OTDA) in implementing the state’s Emergency Rental Assistance Program (ERAP), according to a new report released today by New York 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) 2021-22 was 5.82% for the three-month period ending June 30, 2021, according to New York State Comptroller Thomas P. DiNapoli. It ended the quarter with an estimated value of $268.3 billion.

DiNapoli Announces More Climate Actions; NYS Pension Fund Launches Evaluation of Shale Oil and Gas Companies

The New York State Common Retirement Fund (Fund) is evaluating 42 publicly traded shale oil and gas companies to determine if they are prepared for the transition to a low-carbon economy, New York State Comptroller Thomas P. DiNapoli, trustee of the third largest public pension plan in the country, announced today. The Fund also restricted investments in five more coal producers, adding those companies to the list of 22 that the Fund divested from in 2020.

State Contract and Payment Actions in June

In June, the Office of the State Comptroller approved 1,487 contracts for state agencies and public authorities valued at $18.6 billion and approved more than 20.9 million payments worth more than $18.1 billion. The office rejected 149 contracts and related transactions valued at $2.9 billion and nearly 9,300 payments valued at nearly $25.4 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at www.openbooknewyork.com.

DiNapoli: Medicaid Billing Errors Cost State More Than $1.5 Billion

The state Department of Health (DOH) allowed more than $1.5 billion in improper Medicaid payments over the course of several years due to errors in its billing system and may have exposed patients to unqualified and uncredentialed health care providers, according to three reports released today by State Comptroller Thomas P. DiNapoli.