ESD Needs To Increase Transparency of Its Real Estate Holdings and Sales of Properties Below Fair Market Value
The State’s Empire State Development (ESD) agency has not been meeting statutory requirements to provide accurate, annual reports of its real estate holdings, and has sold several for as little as $1 with insufficient information about the economic benefits of the transfer compared to the fair market value of the property, according to an audit from Comptroller DiNapoli.
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State Pension Fund Valued at $267.7 Billion at End of First Quarter
Comptroller DiNapoli announced that the estimated value of the New York State Common Retirement Fund was $267.7 billion at the end of the first quarter of State fiscal year 2024-25. For the three-month period ending June 30, 2024, Fund investments returned an estimated 1.38%.
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Local Sales Tax Collections Nearly Flat in July
Local sales tax collections in New York State increased by 0.2% in July compared to July 2023, according to data released by Comptroller DiNapoli. Overall, local collections totaled $1.82 billion for the month, up $3.1 million from the same time last year.
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Owner and Employee of Medical Transport Company Arrested for Defrauding Medicaid
Comptroller DiNapoli, Schenectady County District Attorney Robert M. Carney, and Schenectady County Sheriff Dominic Dagostino announced the arrest of Muhammad Adnan Saeed, owner of Sublime Medical Transportation, and Heather Smith, an employee/driver for the company, for the alleged theft of over $700,000 from the State’s Medicaid program. Saeed and Smith are alleged to have inflated bills by falsely claiming that group rides were separate, individual rides and thereby unlawfully received mileage payments for each individual in the group.
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Audits
- Department of Agriculture and Markets
- Office of Temporary and Disability Assistance – Reimbursement of Homeless Shelter Providers – Rescue Mission Alliance of Syracuse
- Department of Corrections and Community Supervision
- New York City Department of Finance
- Office of Temporary and Disability Assistance – Reimbursement of Homeless Shelter Providers – Westhab Inc.’s Coachman Family Center
- New York State Health Insurance Program
School & Municipal Audits
- Northeastern Clinton Central School District – Transportation State Aid
- Northeastern Clinton Central School District – Foster Care Tuition Billing
- Campbell-Savona Central School District
- Town of Summit
- Erie 2-Chautauqua-Cattaraugus Board of Cooperative Educational Services
- Town of Harpersfield
- Town of Otselic
ALSO IN THE NEWS THIS WEEK
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Audit: Major insurer overpaid $5M in claims for N.Y. retirees
Amid mortality crisis, bill hopes to make maternal depression screenings part of routine care
State's Development agency must improve transparency on real estate sales, audit finds
Post of the Week
Tom DiNapoli @NYSComptroller
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