Reports

Nonprofit organizations, large and small, provide a multitude of services throughout New York State. Many nonprofits deliver essential services on behalf of the State and other governmental entities, including health care, social welfare, care for the disabled, education and more. 

New York State continues to benefit from a historically long national economic expansion, now extending a full decade. The Division of the Budget (DOB) projects healthy growth in tax receipts and federal aid for the current fiscal year.

The New York State Common Retirement Fund continues to build on its efforts to integrate sustainability concepts into its investment strategy

As Comptroller of New York State and Trustee of the Common Retirement Fund (CRF), I am deeply concerned about the impact of climate change on the Fund’s investments, as well as its impact on the economy as whole.

After almost a full decade of U.S. economic expansion, too many New Yorkers still face real challenges making ends meet. One clear sign of this troubling reality is the millions of renters and homeowners in our State who struggle with high housing costs.

Of the total contracts, 2,149 (47 percent) were processed after their start or renewal dates. This is a reduction from 2017, when 54 percent were reported late. This continues a decline in the percentage of late contracts from the five-year high of 77 percent in 2014.

The New York State Minority- and Women-Owned Business Enterprise (MWBE) Asset Management and Financial Institution Strategy (Chapter 171, Laws of 2010) was enacted to codify and replicate best practices for providing MWBEs that are asset managers, investment banks and financial and professional service providers with the opportunity to offer services to fiduciary-controlled entities established by New York State law.

In order to ensure contractors doing business with New York State are paid timely, Article 11-A of State Finance Law prescribes timeframes for agencies to prepare and submit vouchers to the Office of the State Comptroller (OSC) for review and approval before payment.

The Office of the State Comptroller received 19,651 contract transactions, including both new contracts and contract amendments, valued at $70.87 billion in the 2018 calendar year. The average time from agency contract submission to final sign-off was 6.3 days.

In 2018, OSC completed 18 audits of expenses submitted to SED by special education providers and one school-age special education provider. These audits have cumulatively identified almost $14.8 million in recommended disallowances, or almost 4 percent of the total claimed expenses of $372 million for the audit period. 

Statement of Anastasia Titarchuk, Interim Chief Investment Officer, New York State Common Retirement Fund.

This year’s State budget process was complicated by December and January tax revenues falling billions of dollars short of expectations. By the start of the new fiscal year on April 1, the picture was somewhat brighter as a result of stronger than anticipated revenues for the month of March and a higher than expected General Fund balance to begin the new year.

This report on the use of overtime by New York State agencies examines patterns over the past ten calendar years. The total cost of overtime in calendar year 2018 was almost $787 million, covering roughly 18.1 million overtime hours worked.

A report to the Comptroller of the State of New York as the sole trustee of the New York State Common Retirement Fund (the Fund) on how the Fund can best mitigate investment risks stemming from climate change and maximize opportunities from the new, low-carbon economy.

From mom-and-pop corner stores to medical practices to computer software start-ups, small businesses play a vital role in New York’s economy.

State tax revenues in December and January fell far short of earlier projections, making the process of adopting the new State budget more difficult than in the recent past.

As Trustee of the New York State Common Retirement Fund, I have a responsibility to safeguard the Fund’s investments, which I manage for the benefit of the more than one million participants in the New York State and Local Retirement System.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2018-19 through SFY 2020-21, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

Job markets go through cycles of ups and downs. Further, within New York State, employment trends can be very different from one region to another. But, over the last ten years, at least one sector – health care – has established a consistent pattern of growth across the State.

In 2009 and 2010, President Obama and Congress enacted two major laws—the American Recovery and Reinvestment Act, and the Affordable Care Act—that provided significant new funding to help New York and other states provide essential services to the people.

Excel file with supporting data