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Investment Advisory Committee
… The Investment Advisory Committee is appointed by the Comptroller … the New York State Retirement and Social Security Law. The Investment Advisory Committee advises the Comptroller on general investment issues. The Investment Advisory Committee reviews …
https://www.osc.ny.gov/common-retirement-fund/resources/investment-advisory-committeePembroke Central School District - Investment Program (2023M-130)
… (District) officials developed and managed a comprehensive investment program. Key Findings District officials did not develop and manage a comprehensive investment program. From January 1, 2022 through April 30, 2023, the District earned investment earnings totaling over $153,000 from money on …
https://www.osc.ny.gov/local-government/audits/school-district/2024/04/19/pembroke-central-school-district-investment-program-2023m-130Village of Greene – Investment Program (2023M-112)
… (Village) officials developed and managed a comprehensive investment program. Key Findings Village officials developed a comprehensive investment program but did not effectively manage the … Had officials considered other legally permissible investment options, the Village may have earned approximately …
https://www.osc.ny.gov/local-government/audits/village/2023/12/01/village-greene-investment-program-2023m-112Tioga Central School District – Cash Management (2020M-83)
… officials did not develop and manage a comprehensive investment program or comply with the District’s investment policy. Had officials invested available funds in … cash flow forecasts that estimate available funds for investment. Ensure excess funds are invested in a manner, …
https://www.osc.ny.gov/local-government/audits/school-district/2020/11/13/tioga-central-school-district-cash-management-2020m-83Greenville Fire District – Investment Program (2023M-106)
… Fire District (District) officials managed a comprehensive investment program. Key Findings District officials developed a comprehensive investment program but did not effectively manage the … Had officials considered other legally permissible investment options, the District may have earned an …
https://www.osc.ny.gov/local-government/audits/fire-district/2023/12/29/greenville-fire-district-investment-program-2023m-106State Comptroller DiNapoli Releases Municipal & School Audits
… school audits were issued. Marathon Joint Fire District – Investment Program (Cortland County) District officials did not develop and manage a comprehensive investment program. The board did not develop and adopt a comprehensive written investment policy as required by state law until the end of …
https://www.osc.ny.gov/press/releases/2023/10/state-comptroller-dinapoli-releases-municipal-school-audits-1Saranac Central School District – Investment Program (2023M-89)
… (District) officials developed and managed a comprehensive investment program. Key Findings District officials did not develop and manage a comprehensive investment program. During the 22-month audit period, the … funds available for investing, and earned $154,099 in investment earnings. Had officials utilized their investment …
https://www.osc.ny.gov/local-government/audits/school-district/2023/12/22/saranac-central-school-district-investment-program-2023m-89Hammondsport Central School District – Investment Program (2024M-63)
… (District) officials developed and managed a comprehensive investment program. Key Findings The Board of Education … officials did not develop and manage a comprehensive investment program. From July 1, 2022 through February 29, … Had officials considered alternative legally permissible investment options, the District may have earned $738,137, or …
https://www.osc.ny.gov/local-government/audits/school-district/2024/08/30/hammondsport-central-school-district-investment-program-2024m-63Hamilton Fulton Montgomery Board of Cooperative Educational Services – Investment Program (2023M-116)
… (BOCES) officials developed and managed a comprehensive investment program. Key Findings BOCES officials did not develop and manage a comprehensive investment program. During the 12-month audit period, BOCES … bearing accounts. Had officials considered other available investment options, BOCES may have earned $448,000 in …
https://www.osc.ny.gov/local-government/audits/boces/2023/12/22/hamilton-fulton-montgomery-board-cooperative-educational-services-investmentMarathon Joint Fire District – Investment Program (2023M-76)
… (District) officials developed and managed a comprehensive investment program. Key Findings District officials did not develop and manage a comprehensive investment program. The Board of Fire Commissioners (Board) did not develop and adopt a comprehensive written investment policy as required by New York State General …
https://www.osc.ny.gov/local-government/audits/fire-district/2023/10/20/marathon-joint-fire-district-investment-program-2023m-76Lansing Fire District – Investment Program (2023M-62)
… (District) officials developed and managed a comprehensive investment program. Key Findings District officials did not develop and manage a comprehensive investment program. The Board of Fire Commissioners (Board) did not develop and adopt a comprehensive written investment policy as required by New York State General …
https://www.osc.ny.gov/local-government/audits/fire-district/2023/09/01/lansing-fire-district-investment-program-2023m-62Village of Corinth – Investment Program (2023M-146)
… (Village) officials developed and managed a comprehensive investment program. Key Findings Village officials did not develop and manage a comprehensive investment program. During the 12-month audit period, the … Had officials considered other legally permissible investment options, the Village may have earned an additional …
https://www.osc.ny.gov/local-government/audits/village/2024/04/05/village-corinth-investment-program-2023m-14614th Annual Emerging Manager & MWBE Conference
… connect with New York State Common Retirement Fund (Fund) investment staff and partners. In a new virtual environment, this year’s Conference continued to offer investment managers the opportunity to gain a better understanding of the Fund's investment process and manager selection. Small breakout …
https://www.osc.ny.gov/common-retirement-fund/emerging-manager/14-annual-conferencePiseco Common School District – Authorized Investments (2023M-172)
… loss. District officials did not adhere to the District’s investment policy and invested $35,000 in an investment account that is not statutorily authorized. The Board of Education (Board) readopted its investment policy annually, but did not ensure the District’s …
https://www.osc.ny.gov/local-government/audits/school-district/2024/03/15/piseco-common-school-district-authorized-investments-2023m-172DiNapoli Announces $1.2 Billion in New Commitments to State Pension Fund's Emerging Manager Program
… “The emerging manager program increases our access to investment opportunities and broadens the pool of talented investment managers who want to do business with the state … to the program will help strengthen the Fund’s overall investment strategy on behalf of the more than one million …
https://www.osc.ny.gov/press/releases/2015/02/dinapoli-announces-12-billion-new-commitments-state-pension-funds-emerging-manager-programComptroller's NYS Common Retirement Fund Responsibilities
… is a diligent fiduciary of the Fund who ensures that investment decisions and practices adhere to the highest … and legal counsel who: Help to determine the best investment choices and allocation of assets for the Fund. Provide independent advice and oversight of all investment decisions. Serve as part of the chain of approval …
https://www.osc.ny.gov/common-retirement-fund/responsibilitiesReal Estate Advisory Committee
… is appointed by the Comptroller, with the consent of the Investment Advisory Committee, pursuant to Section 423 of the … disapproves of a proposed mortgage or real estate investment, the investment will not be presented to the …
https://www.osc.ny.gov/common-retirement-fund/resources/real-estate-advisory-committeeDryden Central School District - Cash Management (2020M-61)
… Key Findings District officials did not follow their investment policy. As a result, officials did not maximize … Officials did not develop and manage a comprehensive investment program. Officials did not seek competitive … earned an additional $614,606 if they used other available investment options. Key Recommendations Develop and manage a …
https://www.osc.ny.gov/local-government/audits/school-district/2020/08/28/dryden-central-school-district-cash-management-2020m-61XVI.4.A Cash and Investments – XVI. Financial Reporting
… Policy References: GASB Statement No. 40 – Deposit and Investment Risk Disclosures (an amendment of GASB Statement … its own benefit and as an agent for other parties. Major investment programs conducted for the direct benefit of the State include the Short Term Investment Pool (STIP) which is used for the temporary …
https://www.osc.ny.gov/state-agencies/gfo/chapter-xvi/xvi4a-cash-and-investmentsInvestment Standards
… Legislative Program Legislative Session 2021-2022: Investment Standards – Signed into law on July 21, 2022 as … of 2022 – A.9281/S.9045 (Glick/Mannion) – Relates to investment standards for investments of the New York State … account program. Memo Bill Text Status … Relates to investment standards for investments of the New York State …
https://www.osc.ny.gov/legislation/investment-standards