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2023 Financial Condition Report

Despite significant uncertainty caused by inflation and other factors, State Fiscal Year (SFY) 2022-23 reflected continuing recovery from COVID-19 and economic growth. 

State Contract and Payment Actions in August

In August, the Office of the State Comptroller approved 2,185 contracts for state agencies and public authorities valued at $2.8 billion and approved nearly 2 million payments worth more than $11.1 billion. The office rejected 231 contracts and related transactions valued at $391 million and nearly 1,800 payments valued at more than $12.8 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.

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DiNapoli: Great Demand For NYS General Obligation Bonds Allows State to Reduce Costs to Taxpayers

State Comptroller Thomas P. DiNapoli yesterday awarded through negotiated sale $572,715,000 of New York State General Obligation (GO) Bonds. After a one-day retail and institutional order period, the State received total orders of over $1.6 billion or 2.8 times the amount of bonds offered, which allowed the State to reduce yields in many maturities. Ultimately, retail orders supported over 55 percent of the total bond sale, of which 85 percent was from New York retail buyers. The true interest cost of the GO Bonds was 3.99 percent.

DiNapoli: Former Medical Office Manager Arrested for Scheme to Defraud the New York State Health Insurance Plan

New York State Comptroller Thomas P. DiNapoli, announced the arrest yesterday of Gina Bradshaw, an officer manager for numerous doctors’ offices in Manhattan, for her alleged role in a long-term scheme to defraud the New York State Insurance Plan (NYSHIP) out of over $12,000 by submitting fraudulent claims for reimbursement. The arrest was the result of a joint investigation between Comptroller DiNapoli, Ulster County District Attorney Clegg, and the FBI Hudson Valley White Collar Crime Task Force.