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State Pension Fund Valued at $283.9 Billion at End of First Quarter
The estimated value of the New York State Common Retirement Fund (Fund) was $283.9 billion at the end of the first quarter of State Fiscal Year 2025-26, Comptroller DiNapoli recently announced. For the three-month period ending June 30, Fund investments returned an estimated 5.46%.
“Financial markets have seen turbulence in the past few months, but returns for the Fund have been positive, even amid concerns over tariffs and a slowing job market,” DiNapoli said. “Thanks to our diverse portfolio and a long-term approach, the Fund is solidly positioned to continue to provide the retirement benefits our state and local government employees have earned.”
The Fund's audited value was $273.1 billion as of March 31, 2025, the end of the state’s fiscal year.
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NYC Budget Is Balanced but Risks Loom as Fiscal and Economic Concerns Grow
New York City’s adopted $119.7 billion fiscal year 2026 budget is currently balanced (including pre-payments) but there are significant concerns over funding from Washington and slowing economic growth that could jeopardize its financial position and discretionary programs if greater preparation is not taken, according to a report released by Comptroller DiNapoli.
“New York City’s finances in fiscal year 2025 benefited from better-than-projected revenues and savings from the lower cost of services for asylum seekers,” DiNapoli said. “Employment and tax revenues continue to grow, buoyed by a financial sector that has generated near-record profits in recent years. While this has enabled the city to fund substantial spending growth, given the systemic restructuring of federal fiscal policy underway and the risk of its lasting consequences, the city is vulnerable to reductions both in federal spending and perhaps from state responses to this retrenchment. It is concerning that the city made no efforts to codify plans to bolster reserves or set aside additional funds in its rainy-day fund.”
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Former Vernon Center Fire Department Treasurer Pleads Guilty to Stealing Over $300,000
The former Treasurer of the Vernon Center Fire Department pled guilty to stealing more than $300,000 from the department, Comptroller DiNapoli, Oneida County District Attorney Todd Carville, and New York State Police Superintendent Steven G. James announced.
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- Town of Pound Ridge – Procurement and Claims Auditing
- Otisco Fire District – Financial Activities
- Bayport Blue Point Union Free School District – Lead Testing and Reporting
- Harpursville Central School District – Lead Testing and Reporting
- Oxford Academy and Central School District – Lead Testing and Reporting
- Tupper Lake Central School District – Lead Testing and Reporting
- Johnstown City School District – Lead Testing and Reporting
- Poland Central School District – Lead Testing and Reporting
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