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DiNapoli: State Agencies Persistently Late with Not-For-Profits Contracts

A report released by New York State Comptroller Thomas P. DiNapoli found 50 percent of the contracts in 2019 between Not-for-Profit (NFP) organizations and the state were not processed until after the contract start date. DiNapoli’s report showed that no progress has been made in the past year, with the percentage of late contracts increasing slightly from 47 percent in 2018.

State Contract and Payment Actions in April

In April, the Office of the State Comptroller approved 931 contracts for state agencies and public authorities valued at $680 million and approved approximately 11.5 million payments worth nearly $16.1 billion. The Office rejected 79 contracts and related transactions valued at $50 million and nearly 6,900 payments valued at more than $105.8 million. More information on these contracts and payments is available at www.openbooknewyork.com.

Sustainable Investments and Climate Solutions Program

In June of 2019, Comptroller DiNapoli released a Climate Action Plan, which provides a roadmap for the Common Retirement Fund (CRF) to address climate risks and opportunities across all asset classes. A key component of the plan is the creation of a formal Sustainable Investments and Climate Solutions (SICS) program, and an increase of the Fund’s total commitment to the program to $40 billion from the initial $20 billion goal achieved in 2023.