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New York State’s Pension Fund and Church Commissioners Release Open Letter to ExxonMobil Shareholders

The New York State Common Retirement Fund and The Church Commissioners for England have today written an open letter to ExxonMobil shareholders in advance of the ExxonMobil annual shareholders’ meeting, which takes place on May 27, 2020, in Dallas, Texas. The open letter calls on shareholders to join the two institutions, who lead engagement with ExxonMobil as part of the Climate Action 100+ initiative, and make clear, via their voting, that the time has come for change in the governance and strategy of the corporation.

DiNapoli: Waiving Waiting Period for Public Workers' Retirement Protects Families During Pandemic Crisis

New York State Comptroller Thomas P. DiNapoli today applauded Governor Cuomo’s Executive Order waiving the statutory 15-day waiting period before a public employee’s service retirement can take effect. DiNapoli requested the Executive Order in order to safeguard benefits for families who may lose a loved one to COVID-19 before their service retirement can be made official. The Executive Order applies to member of the New York State and Local Retirement System.

DiNapoli: Coronavirus Will Cause Multi-Year Hit to State Finances

The coronavirus pandemic has caused extraordinary economic challenges in New York with punishing, still-evolving impacts on public health, jobs, the economy and state finances. As a result, the enacted state budget leaves greater uncertainty for school districts, health care providers and local governments this year than ever before, according to a report released today by New York State Comptroller Thomas P. DiNapoli.

DiNapoli Op-Ed in Newsday Urges Washington to Help Governments Hurt by COVID-19

Newsday published an op-ed from New York State Comptroller Thomas P. DiNapoli today pressing the federal government to do more to help state and local governments hit hard by the coronavirus. The full op-ed is below:

State, local governments can slide into fiscal black hole

We are all painfully aware of the devastating health impacts of the COVID-19 pandemic. What is also becoming frighteningly clear is the unprecedented economic devastation. New York and other hard hit areas need money to balance their books and that cash needs to come from Washington.

DiNapoli Releases Bond Calendar for Second Quarter

New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned bond sales for the state, New York City and their major public authorities during the second quarter of 2020.

The planned sales of $3.68 billion include $2.63 billion of new money and $1.05 billion of refundings and reofferings as follows:

DiNapoli: New York's March 31 Cash Standing Above Projections, but Faces Significant Shortfall in Weeks

According to a report released today by State Comptroller Thomas P. DiNapoli, New York closed out the state fiscal year on March 31 with cash-on-hand in the General Fund of $8.9 billion, or $2.4 billion above projections. The state will face cash flow challenges as soon as next month due to billions in state aid payments for health and education, delayed state tax revenues and additional spending to fight the coronavirus.