Selected reports andinformation published by New York State's Comptroller Thomas P. DiNapoli
Independent Review of State Pension FundFinds DiNapoli’s Reforms Highly Effective
New York State Comptroller Thomas P. DiNapoli Tuesday released an independent review of the New York StateCommon Retirement Fund (Fund) that found it is well–run, operates with anindustry–leading level of transparency and invests effectively on behalf of itsmembers. The review by Funston Advisory Services, required as part of robustoversight reforms pushed by DiNapoli, determined the Comptroller is fulfillinghis fiduciary responsibilities and that Fund employees act within ethical andprofessional standards.
A.G. Schneiderman and Comptroller DinapoliAnnounce Guilty Pleas Of Former Senator Shirley Huntley’s Co–Defendants
Attorney General Eric T. Schneiderman and Comptroller Thomas P. DiNapoliWednesday announced that the co–defendants in the case of former New YorkSenator Shirley L. Huntley have pleaded guilty for their roles in an illegalmember item theft scheme and a cover up. Patricia Savage, Senator Huntley’saide and president of Parent Workshop, a bogus nonprofit, and Lynn Smith,Senator Huntley’s niece and the treasurer of Parent Workshop, pleaded guiltytoday to the felony of Attempted Grand Larceny in the Third Degree, and agreedto pay $29,950 in restitution to the state of New York, the full amount oftaxpayer dollars they had stolen. A third co–defendant, David Gantt, pleadedguilty to the charge of Falsifying Business Records in the Second Degree.
New York State Common Retirement FundAnnounces Third Quarter Results
The New York State Common Retirement Fund’s (Fund) rate of return for the thirdquarter ending December 31, 2012 was 1.74 percent, according to New York StateComptroller Thomas P. DiNapoli. The Fund’s estimated value at the end of thethird quarter was $152.9 billion, near its historical high.
DiNapoli: Yonkers Challenged by SchoolFinances, Declining Property Values
The City of Yonkers has persistently faced significant budget gaps which havecaused the city to draw down its fund balance. Recent declines in state aid,property values and growing school demands have added to the city’s financialchallenges, according to a report released Wednesday by NewYork State Comptroller Thomas P. DiNapoli. Yonkers officials have startedmaking tough choices needed to bring the City’s budget into structural balance.The report is the latest in a series of fiscal profiles on cities across thestate released by the Comptroller’s office.
DiNapoli: Syracuse’s Fiscal ConditionChallenged by Systemic Problems
The City of Syracuse is confronted by a large number of vacant and tax–exemptproperties, low rates of home ownership and decreased home values, according toa report released Wednesday by StateComptroller Thomas P. DiNapoli. The rating agencies credit Syracuse for havinga relatively strong financial position, but caution the City is susceptible toadverse economic conditions. The report is the latest in a series of fiscalprofiles DiNapoli will issue on cities across the state.
Qualcomm Implements Industry–LeadingPolitical Spending Disclosure Policy; DiNapoli Commends Action
Qualcomm Incorporated and the New York State Common Retirement Fund (Fund) werepleased to announce Friday that following informative discussions, the Fund hasdecided to withdraw the lawsuit it filed on January 2, 2013. Qualcomm willimplement a revised political spending disclosure policy which is now availableon its website.
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