The New York State Common Retirement Fund’s (Fund) estimated return in the first quarter of the State Fiscal Year (SFY) 2022-23 was -8.24% for the three-month period ending June 30, 2022, according to New York State Comptroller Thomas P. DiNapoli. The Fund ended the quarter with an estimated value of $246.3 billion.

Total revenue for New York City’s budget is expected to drop by 9.4% to $101.1 billion in Fiscal Year (FY) 2023 amid lower tax revenue and a decline in federal aid. The city also faces sustained challenges from a possible recession, federal monetary policy and turmoil in the financial markets, according to a report on the city’s FY 2023 financial plan released today by State Comptroller Thomas P. DiNapoli.

Local sales tax collections in New York state increased by 11.9% in July compared to the same month in 2021, according to an analysis released today by State Comptroller Thomas P. DiNapoli. Overall, local collections totaled $1.8 billion, up $188 million as compared to July of last year.

New York State Comptroller Thomas P. DiNapoli today announced the following school district audits have been issued.

The New York State Common Retirement Fund (Fund) is evaluating 28 publicly traded integrated oil and gas companies to determine if they are prepared for the transition to a low-carbon economy, New York State Comptroller Thomas P. DiNapoli, the Fund’s trustee, announced today. Each company is being asked to provide information on its readiness to transition to the emerging net zero economy.

Former Village of Sherman Treasurer Ann Gilbert faces felony charges for the alleged theft of more than $20,000 in cash paid by residents from 2012 to 2016 for village sewer, water and taxes, according to an investigation by State Comptroller Thomas P. DiNapoli, the Chautauqua County District Attorney Jason Schmidt and the Chautauqua County Sheriff’s Office. Gilbert, 54, who now resides in Florida, was charged with grand larceny in the third degree.

New York State Comptroller Thomas P. DiNapoli today announced the following local government audits were issued.

Hundreds of millions of dollars were spent on Medicaid Managed Long-Term Care (MLTC) costs for individuals who no longer qualified for the program, according to an audit by State Comptroller Thomas P. DiNapoli. The audit found that inadequate oversight by the state Department of Health (DOH) over a period of more than six years resulted in over $700 million in overpayments for ineligible members and $2.8 billion for minimal services for eligible members.

New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund’s (Fund) investment return was 9.51% for the state fiscal year that ended March 31, 2022. The return on investments increased the Fund’s value to $272.1 billion.

In June, the Office of the State Comptroller approved 1,449 contracts for state agencies and public authorities valued at $1.5 billion and more than 3.3 million payments worth nearly $13.2 billion. The office rejected 128 contracts and related transactions valued at $1.4 billion and more than 4,900 payments valued at nearly $11.5 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.