New York State Comptroller Thomas P. DiNapoli today announced the promotion of Sylvester (Sly) McClearn to interim director of the New York State Common Retirement Fund’s (Fund) Emerging Manager Program.
New York state has one of the nation’s highest debt levels, largely because measures to restrict the excessive use of debt have been circumvented over the years in state budgets. Since the Debt Reform Act was passed in 2000, state-supported debt outstanding increased by $25 billion. Over the next five years, this debt is projected by the Division of the Budget to increase by $26 billion, or 42%, from $61.9 billion in State Fiscal Year (SFY) 2021-22 to $88 billion in SFY 2026-27.
New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.
An audit released today by New York State Comptroller Thomas P. DiNapoli found the state’s Office of Children and Family Services (OCFS), which oversees the locally administered child welfare system that investigates reports of alleged child abuse or child fatalities, can take additional steps to protect children from harm.
New York State Comptroller Thomas P. DiNapoli and Special Agent-in-Charge Michael McGill of the Social Security Administration (SSA) Office of the Inspector General, Philadelphia Field Division, today announced the arrest of Charles Alton Bump Jr. for allegedly stealing $53,320 in payments from the New York State Common Retirement Fund and SSA that were sent to his deceased mother, Elizabeth Dorothy Case. Bump concealed his mother’s death and continued collecting her retirement and SSA payments. He allegedly stole $28,679 from the state pension fund and $24,641 from the SSA.
State tax receipts totaled $79.8 billion through the third quarter of State Fiscal Year (SFY) 2022-23, exceeding the latest projections from the Division of the Budget’s (DOB) Mid-Year Update to the State Financial Plan by nearly $7.7 billion, according to the monthly State Cash Report released by State Comptroller Thomas P. DiNapoli.
“As we embark on a new year and legislative session, the State of the State message delivered by Gov. Kathy Hochul set forth her agenda. State government is here to work for the people of this state and make life better and more equitable for all New Yorkers. Her top priorities, including addressing the affordable housing crisis, fighting back on crime, and investing in high quality health care, education, and infrastructure, are the same priorities shared by all New Yorkers.
The Corporate Governance Program supports and facilitates the integration of environmental, social and governance (ESG) factors in the Common Retirement Fund’s due diligence process, investment decisions, and performance monitoring program, and provides active stewardship of the Fund’s public equity holdings.
New York State has more than 7 million acres of farmland, and many of its crops are dependent on pollination by bees and other pollinators. To address a drastic decline in the population of these essential pollinators, in 2016 the state created the Pollinator Protection Plan. The New York State Department of Agriculture and Markets should step up efforts to ensure honey bee populations are protected, according to an audit released today by State Comptroller Thomas P. DiNapoli.
On the second anniversary of the Jan. 6 attacks on the U.S. Capitol, New York State Comptroller Thomas P. DiNapoli announced the filing of shareholder proposals that call on seven corporations in the New York State Common Retirement Fund’s (the Fund) portfolio to disclose their direct and indirect spending on political causes and on two others to adopt a new policy before contributing to the political activities of third-party organizations.
