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Revenue Enhancement Ideas: Cash Management for Local Governments and School Districts
… do not significantly offset the earnings from the extra investment income. Explore contracting with a bank for the … Maximize Interest Earnings Following prudent yet effective investment strategies can improve cash inflow and even reduce … to be needed in the near term). Establish a formal investment policy, if you haven’t already, to guide your …
https://www.osc.ny.gov/local-government/publications/revenue-enhancement-ideas-cash-management-local-governments-and-school-districtsLeading the Way on Climate Investment
… solutions. This multi-faceted approach employs sustainable investment strategies, active engagement with portfolio … as a global leader in addressing climate change-related investment risks and pursuing opportunities for the Fund’s … and committing $40 billion to the Fund’s Sustainable Investment and Climate Solutions (SICS) Program. Investing in …
https://www.osc.ny.gov/common-retirement-fund/leading-way-climate-investmentDiNapoli Expands State Pension Fund's In-State Investment Program
… of the $200 million New York Credit Small Business Investment Company (SBIC) Fund to provide credit financing to … include credit (SBIC), equity (In-State Private Equity Investment Program) and small business loans (New York …
https://www.osc.ny.gov/press/releases/2015/11/dinapoli-expands-state-pension-funds-state-investment-programInvestment of Retirement Funds
… Legislative Program Legislative Session 2021-2022: Investment of Retirement Funds – S.9051 (Jackson) – Permits investment of retirement funds in mortgages guaranteed by New … and community renewal. Memo Bill Text Status … Permits investment of retirement funds in mortgages guaranteed by New …
https://www.osc.ny.gov/legislation/investment-retirement-fundsGroton Central School District – Cash Management (2020M-124)
… Official did not: Develop and manage a comprehensive investment program or comply with the District’s Board of Education’s (Board) investment policy. Solicit interest rate quotes to maximize … cash flow forecasts that estimate available funds for investment. Ensure available funds are invested, within legal …
https://www.osc.ny.gov/local-government/audits/school-district/2021/01/29/groton-central-school-district-cash-management-2020m-124DiNapoli: Independent Review Finds State Pension Fund Strong, but Warns of Risks Posed by Limited Staffing
… providers. FAS reviewed documents relating to every new investment that closed during the three-year review period … management capabilities and an over-reliance on outsourced investment management and support functions. In addition, … independent compensation benchmarking indicates that [investment] staff compensation levels are in the bottom …
https://www.osc.ny.gov/press/releases/2016/07/dinapoli-independent-review-finds-state-pension-fund-strong-warns-risks-posed-limited-staffingDiNapoli Announces $500 College Savings Sweepstakes
… Plan account. The New York 529 College Savings Program, an investment tool designed to help families save for college, … college-related expenses. The plan offers three age-based investment options that become more conservative over time. In addition, there are 13 individual investment options that account owners can choose from to …
https://www.osc.ny.gov/press/releases/2015/05/dinapoli-announces-500-college-savings-sweepstakesDiNapoli Announces Vicki Fuller's Retirement as CIO of NYS Common Retirement Fund
… P. DiNapoli today announced that Vicki Fuller, chief investment officer of the New York State Common Retirement … direction, the state pension fund has produced impressive investment returns, averaging an annual growth rate of more … "Since Vicki joined us, she has focused her decades of investment experience on delivering results and enhancing the …
https://www.osc.ny.gov/press/releases/2018/05/dinapoli-announces-vicki-fullers-retirement-cio-nys-common-retirement-fundState Comptroller DiNapoli Statement on Expansion of Geneva-Based RealEats into New Facility
… work in every corner of our state, while generating solid investment returns so public workers can have a secure retirement.” Through its In-State Private Equity Investment Program, the New York State Common Retirement Fund partners with investment firms to invest in private New York companies. …
https://www.osc.ny.gov/press/releases/2022/06/state-comptroller-dinapoli-statement-expansion-geneva-based-realeats-new-facilityDiNapoli: State Pension Fund Adds $350 Million to Investment Funds Geared to New York Companies
… Fund (Fund) is committing another $350 million to two investment funds through its In-State Private Equity Investment Program, State Comptroller Thomas P. DiNapoli, …
https://www.osc.ny.gov/press/releases/2022/06/dinapoli-state-pension-fund-adds-350-million-investment-funds-geared-new-york-companiesDiNapoli: NYS Pension Fund Commits $1.3 Billion to Sustainable Investment Program
… Fund is a recognized leader in addressing climate-related investment risks and pursuing opportunities created by … that address the climate crisis and fulfill their investment objectives,” said Remy Briand, Chief Product … climate risk considerations in their global equity investment process,” In 2022, the Fund committed $300 million …
https://www.osc.ny.gov/press/releases/2023/03/dinapoli-nys-pension-fund-commits-13-billion-sustainable-investment-programBrighton Memorial Library – Board Oversight (2015M-116)
… failed to review the bank statements, reconciliations and investment statements. Key Recommendations Audit and approve … the private fund accounts. Develop a comprehensive written investment policy in accordance with General Municipal Law. Review bank and investment statements and their corresponding reconciliations …
https://www.osc.ny.gov/local-government/audits/library/2015/08/28/brighton-memorial-library-board-oversight-2015m-116St. Lawrence County Industrial Development Agency – Project Approval and Monitoring (2021M-151)
… the 10 projects after approval. Obtain sufficient capital investment information for 10 approved projects to monitor actual vs. proposed investment. Key Recommendations Develop procedures to ensure … employment levels are verified and supported and capital investment information is reported and compared to project …
https://www.osc.ny.gov/local-government/audits/county/2021/12/22/st-lawrence-county-industrial-development-agency-project-approval-and-monitoringDiNapoli Orders Divestment of Russia Holdings
… sanctions and his war has made Russia an unacceptable investment risk. As Russia’s already weak economy plunges … to end or limit their operations in Russia. DiNapoli’s investment staff have also contacted the Fund’s external investment managers, urging them to examine their exposure to …
https://www.osc.ny.gov/press/releases/2022/03/dinapoli-orders-divestment-russia-holdingsDiNapoli Encourages New Yorkers to Save for College
… and easy." New York's 529 College Savings Program is an investment tool designed to help save for college. Parents … Plan . The Direct Plan offers a broad array of investment options, including individual investment options provided by the program and age-based …
https://www.osc.ny.gov/press/releases/2017/05/dinapoli-encourages-new-yorkers-save-collegeOpinion 90-22
… there is no specific statutory authorization for the investment of moneys of others held by a municipality ( cf . General Municipal Law, §11 governing the temporary investment of moneys of municipal corporations), we have … Financial Management Guide, Cash Management and Investment Policies and Procedures, section 2.0060). To …
https://www.osc.ny.gov/legal-opinions/opinion-90-22Chautauqua County – Investments and Payroll (2016M-147)
… The objectives of our audit were to review the County’s investment program and salaries and fringe benefit payments … invest funds in accordance with the County’s adopted investment policy or General Municipal Law (GML). Not all … Key Recommendations Provide adequate oversight of the investment program to ensure that all investments are made in …
https://www.osc.ny.gov/local-government/audits/county/2015/12/23/chautauqua-county-investments-and-payroll-2016m-147City of Olean Housing Authority – Board Oversight (2016M-93)
… of CFP activity. The Board has not adopted a comprehensive investment policy. The Authority does not have a written … firm that assists the Director in managing the Authority’s investment activities. Key Recommendations Establish formal … of the CFP. Develop a written, comprehensive investment policy that, as a minimum, identifies the types of …
https://www.osc.ny.gov/local-government/audits/city/2016/07/29/city-olean-housing-authority-board-oversight-2016m-93Investing in New York
… growth and create and retain jobs. In-State Private Equity Investment Program This program invests in private equity … 46,338 (as of March 31, 2023, or when the Fund exited the investment) Returning over $1.8 billion on $1.0 billion … return (as of March 31, 2023) Contact Frank McEvoy Senior Investment Officer, Private Equity Phone: (518) 473-6089 …
https://www.osc.ny.gov/common-retirement-fund/investing-new-yorkDiNapoli Announces Lowered Fees for New York State's 529 College Savings Direct Plan
… money go further.” The 529 College Savings Program is an investment tool designed to help parents save for college. … to 0.17 percent. The Direct Plan offers a variety of investment options including three age-based portfolio … portfolios which enable parents to create their own investment strategy. New York’s Direct Plan is managed by …
https://www.osc.ny.gov/press/releases/2014/10/dinapoli-announces-lowered-fees-new-york-states-529-college-savings-direct-plan