"The passing of the state budget is welcome news. While jobs are rebounding in many industries, our economic recovery lags the nation, and risks have expanded as the budget process has unfolded, with growing geopolitical uncertainty surrounding Russia’s invasion of Ukraine and persistently high inflation. In addition, New Yorkers continue to grapple with the health, economic, and social impacts of the pandemic.

An independent fiduciary and conflict of interest review of the New York State Common Retirement Fund (Fund), released today by New York State Comptroller Thomas P. DiNapoli, commended the Comptroller and Fund staff for holding “themselves to the highest ethical, professional and conflict of interest standards” and for being “well-prepared for the challenges that the [COVID-19] pandemic posed.” The review was conducted by Kroll LLC.

Too many of New York school districts’ mental health teams are understaffed, with too few available services and inconsistent and limited oversight of mental health education for students, an audit by New York State Comptroller Thomas P. DiNapoli found.

New York State Comptroller Thomas P. DiNapoli issued the following statement today regarding the Legislature's passage of an extender bill to fund state operations:

"The passage of a budget extender bill will ensure that more than 60,000 state employees will be paid this week. However, since the extender was passed after the time in which OSC indicated it must be done to avoid any disruptions, there may be a delay and employees on the institutional payroll should watch closely."

In February, the Office of the State Comptroller approved 1,465 contracts for state agencies and public authorities valued at $1.4 billion and approved more than 2.9 million payments worth nearly $10 billion. The office rejected 121 contracts and related transactions valued at $206.2 million and nearly 7,000 payments valued at more than $23.1 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.

New York State Comptroller Thomas P. DiNapoli, sole trustee of the New York State Common Retirement Fund (Fund), today announced that he has directed divestment from Russian companies and continued his prohibition of any further investments in them.

Median earnings for full-time working women in New York were 86 cents for every dollar earned by men in 2019, an annual wage gap of $8,821, according to a new analysis by New York State Comptroller Thomas P. DiNapoli. The analysis, based on the most recent state-level data available, finds the gap in New York was smaller than the national wage gap of $10,150, with women earning 81 cents for every dollar paid to men on average.

The program run by the State Education Department (SED) to help New Yorkers with disabilities gain employment, transition to independent living, and rise out of poverty is not fulfilling its mission because it too often leaves participants with inadequate plans that do not accomplish those goals, according to an audit released today by State Comptroller Thomas P. DiNapoli.

New York State Comptroller Thomas P. DiNapoli issued the following statement regarding today’s SEC proposed rule on climate disclosure.

"Today's action by the SEC will ​provide investors with the robust climate disclosures that we have long advocated for. Access to consistent, comparable, and reliable information, across the marketplace, will greatly improve the state pension fund's ability to assess and address risks and opportunities as we navigate our path to net zero by 2040.