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News stories tagged with "dinapoli"

NYS Comptroller Thomas DiNapoli.
NYS Comptroller Thomas DiNapoli.

Comptroller DiNapoli confident about state pension fund after Wall Street plunge

State comptroller Tom DiNapoli says even after the big drop on Wall Street yesterday, he believes the state's massive pension fund can withstand market swings. Karen DeWitt has more from Albany.  Go to full article
If those monies arenít forthcoming, where do we come up with the money to fill those gaps and still provide services?

Comptroller says default would hurt NY in more ways than one

New York State Comptroller Tom DiNapoli says if President Obama and Congress do not agree on a way to increase the federal debt ceiling, the default could affect New York State in a number of ways, from a weakened state pension fund to significant gaps in the state budget.  Go to full article

Comptroller optimistic about economic recovery

State Comptroller Thomas DiNapoli issued a report on New York's economic health Thursday. The Innovation Trail's Zack Seward has more on some of the key findings.  Go to full article

Audit uncovers financial deficiencies in Lake Placid

State Comptroller Thomas DiNapoli released a scathing audit of the village of Lake Placid's finances Wednesday. DiNapoli's office found village employees had collected more than $110,000 in payments for accrued leave time and benefits that they were not entitled to receive. State auditors said the village should get law enforcement officials involved and try to recover the money. As Chris Knight reports, village officials say they've taken steps to address the deficiencies uncovered by the audit.  Go to full article

NY pension fund sues BP to recover stock losses

State officials in New York announced yesterday that they're suing BP. They hope to recover hundreds of millions of dollars in losses suffered by the state's pension fund after the oil giant's stock price plummeted. Brian Mann has our story.  Go to full article

Comptroller probes "widespread" corruption in state Corrections Department

Investigators say a New York prison official skipped Friday work shifts for 17 years and fraudulently collected pay for the time off. A report released yesterday says Howard Dean, now retired as director of the food processing center at the Oneida Correctional Facility in Rome, filed bogus time sheets and travel documents that cost taxpayers $500,000. Comptroller Thomas DiNapoli and Inspector General Joseph Fisch also say prison management looked the other way. Mary Foley has more.  Go to full article

Lawmakers return to budget talks

Environmental groups are sending a giant beaver to the Capitol today to protest raids on the Environmental Protection Fund.
The man-sized rodent will focus on the halls outside the Assembly chamber. The Senate has proposed an EPF of $22 million. Gov. Paterson proposed $143 million, and the Assembly in in his ballpark, at $168 million.
The EPF is funded largely through a dedicated tax on real estate sales and is supposed to be used for a broad range of environmental programs.
Lawmakers are due in Albany today too. Tops on the agenda is the budget, including EPF cuts, but also potentially deep cuts in other spending areas as well, and structural weaknesses detailed by the state comptroller this week. Karen DeWitt reports.  Go to full article

Officials seek money to fix international bridge

A state report says the international bridge between Ogdenbsurg and Prescott, Ontario is in "urgent need" of repair. The bridge over the St. Lawrence River rates 4.3, or "partially deficient", on a 7-point scale used by the Department of Transportation. The report by Comptroller Thomas DiNapoli warns closing the bridge would cost the region millions of dollars in commerce and tourism. Local officials say they welcome the attention of the Comptroller's report. They hope it'll attract the $75 million needed to repair the 50-year-old span. David Sommerstein reports.  Go to full article

Comptroller DiNapoli: More budget pain for schools, local governments

Over the weekend, Governor David Paterson announced that he will withhold $750 million in state aid owed to schools, hospitals, and local governments. In announcing the aid shortfalls, Paterson said, "The state has run out of money." More than $500 million will be withheld from school districts, with another hundred million dollars delayed for county payments. During a trip to the North Country over the weekend, state Comptroller Thomas DiNapoli said the state budget crisis has only begun to trickle down to the local level.  Go to full article

NY pension fund contribution rates rising

Contributions from local governments to the state's pension system will be going up in the next two years, says the State's Comptroller, who blames the downturn in the stock market for the increase. Karen DeWitt reports.  Go to full article

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