Independent Review Finds State Pension Fund Operates at Highest Ethical and Professional Standards
An independent fiduciary and conflict-of-interest review recognized the $291.4 billion NYS Common Retirement Fund for its exemplary investment oversight, risk management, and ethical governance. Released by Comptroller DiNapoli, the review concluded the Fund operates with the highest ethical standards, is in full compliance with fiduciary and statutory requirements, and acts for the sole benefit of its more than 1.2 million participants. The review was conducted by Weaver and Tidwell LLP.
“During my tenure, the New York State Common Retirement Fund has established itself as one of the nation’s top public pension funds in performance, transparency, ethics, and public accountability. I’m proud of the results-driven, disciplined work my team accomplishes year-in and year-out,” DiNapoli said.
Affordable Housing Developments Need Better Oversight to Address Unsafe Conditions
Three Mitchell-Lama housing developments overseen by the New York City Department of Housing Preservation and Development operated at a financial loss, even as they gave bonuses and gratuities to staff and neglected critical building repairs, according to an audit released by Comptroller DiNapoli. Auditors examined Clinton Towers in Manhattan, Evergreen Gardens in the Bronx, and Tivoli Towers in Brooklyn, and found unsafe living conditions, including crumbling facades, mold, water damage, and broken fire doors, and identified more than $114,000 in bonuses, gratuities and holiday-related payments.
“Even in the face of New York City’s affordability crisis, my audit found troubling conditions and questionable spending at three housing developments that show clear need for better oversight of the Mitchell-Lama program, which is crucial to preserving affordable housing,” DiNapoli said. “The Department of Housing Preservation and Development must do more to ensure that these properties are managed responsibly and that tenant apartments are safe, well-maintained, and affordable.”
Comptroller DiNapoli Urges New Yorkers to Spend Holiday Gift Cards
Comptroller DiNapoli is urging New Yorkers to spend and register the gift cards they receive during the holidays to avoid losing track of their money. After five years of inactivity, retailers are required by law to turn unused gift card balances over to the State Comptroller’s Office of Unclaimed Funds, where the money can always be claimed. In 2025, DiNapoli’s office recovered more than $28 million in unused gift cards that New Yorkers can claim.
Monterey Fire Department President Arrested for Allegedly Stealing Funds from the Department
Comptroller DiNapoli, Schuyler County District Attorney Jeremy Hourihan and New York State Police Superintendent Steven James announced the arrest of the president and interim treasurer of the Monterey Volunteer Fire Department for allegedly stealing over $3,000 from the department.
Former Dannemora Official Charged with Falsifying Time Sheets
The former mayor of the Village of Dannemora was charged with falsifying time sheets aiming to allow state correction officers to claim they worked as village employees to secure more generous benefits from the state retirement system, Comptroller DiNapoli, Essex County District Attorney Michael Langey and New York State Police Superintendent Steven James announced on Wednesday. The defendant faces charges of tampering with public records and falsifying business records.
Siblings Indicted for Allegedly Stealing State Rent-Relief Funds
A pair of siblings have been arraigned on a sealed indictment for allegedly stealing $90,000 in Emergency Rental Assistance Program funds to which they were not entitled, Comptroller DiNapoli, Albany County District Attorney Lee Kindlon and New York State Police Superintendent Steven James announced on Monday.
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