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NEWS from the Office of the New York State Comptroller
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DiNapoli: NY Pension Fund Reaches Climate Agreements With Five Portfolio Companies

The New York State Common Retirement Fund (Fund) reached climate-related agreements with five portfolio companies during the 2024 proxy season and added $2 billion to the MSCI World ex-USA Climate Change Index strategy, State Comptroller Thomas P. DiNapoli announced today, along with releasing the fourth annual Climate Action Plan Progress Report.

DiNapoli: Owner and Employee of Medical Transport Company Arrested for Defrauding Medicaid

New York State Comptroller Thomas P. DiNapoli, Schenectady County District Attorney Robert M. Carney, and Schenectady County Sheriff Dominic Dagostino announced the arrest of Muhammad Adnan Saeed, owner of Sublime Medical Transportation and Heather Smith an employee/driver for the company, for the alleged theft of over $700,000 from the state’s Medicaid program. Saeed and Smith are alleged to have inflated bills by falsely claiming that group rides were separate, individual rides and thereby unlawfully received mileage payments for each individual in the group.

DiNapoli: State Pension Fund Valued at $267.7 Billion at End of First Quarter

New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $267.7 billion at the end of the first quarter of state fiscal year 2024-25. For the three-month period ending June 30, 2024, Fund investments returned an estimated 1.38%.

DiNapoli Audit: ESD Needs To Increase Transparency of Its Real Estate Holdings and Sales of Properties Below Fair Market Value

The State’s Empire State Development agency (ESD) has not been meeting statutory requirements to provide accurate, annual reports of its real estate holdings, and has sold several for as little as $1 with insufficient information about the economic benefits of the transfer compared to the fair market value of the property, a new audit from State Comptroller Thomas P. DiNapoli found.

DiNapoli: NYC Finances Continue To Benefit From Better Than Projected Revenue but Spending Pressures Remain

New York City’s finances continue to benefit from better-than-projected revenues and savings generated through initiatives launched in response to its financial challenges, but the continued influx of asylum seekers, elevated demand for city programs and a declining surplus demand preparation to navigate future uncertainty, according to a report on the city’s Financial Plan released today by State Comptroller Thomas P. DiNapoli.

State Contract and Payment Actions in June

In June, the Office of the State Comptroller approved 1,909 contracts for state agencies and public authorities valued at $7.3 billion and approved more than 1.8 million payments worth more than $14.1 billion. The office rejected 262 contracts and related transactions valued at $5.5 billion and nearly 3,100 payments valued at more than $7.2 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.