LIRR Strike Could Cost Up to $61 Million Daily in Lost Economic Activity
Comptroller DiNapoli estimated the potential Long Island Rail Road (LIRR) strike could cause up to $61 million in lost economic activity each day, based on prior analysis from his office, inflation and ridership trends.
“A LIRR strike will be felt far beyond the tracks, triggering the loss of millions of dollars per day in lost economic activity, disrupting thousands of riders and throwing the region’s transit service into chaos and gridlock,” DiNapoli said. “I urge the Metropolitan Transportation Authority and its union partners to expedite reaching a reasonable settlement so we can avoid the widespread disruption of a strike.”
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Pension Leaders Issue Joint Warning to SpaceX Executives
In a joint letter to SpaceX executives, Comptroller DiNapoli, along with California Public Employees’ Retirement System CEO Marcie Frost and New York City Comptroller Mark Levine, raised objections to the reported proposed governance structures of SpaceX, as it prepares for its initial public offering, which would leave shareholders with virtually no recourse over how the company conducts business. The investors hold combined assets under management exceeding $1 trillion for millions of working and retired public servants, including teachers, firefighters, police officers, nurses, and their beneficiaries.
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Common Retirement Fund Opposes Amazon Directors and Executive Pay
The Common Retirement Fund votes by proxy on all director nominees, advisory votes, and shareholder proposals at annual and special meetings for each of the domestic companies in the Fund’s public equity portfolio, as well as those of select non-U.S. companies. Because of Amazon’s inadequate response to significant concerns from investors about its deficient workforce management practices and its excessive executive salaries, NY state’s pension fund will be voting against its board directors and its proposed pay packages at the annual meeting on May 20, 2026.
Comptroller DiNapoli Issues Statement on New York City Budget Update
"The $124.7 billion New York City Fiscal Year 2027 Budget and Financial Plan lays a path towards a stronger fiscal picture that does not come at the cost of making the city less affordable. The FY 2027 budget removes actions that would broadly increase the property tax burden or weaken the city’s ability to withstand an economic downturn. However, the choices made to balance the FY 2027 budget highlight fiscal stresses that still exist and will require proactive steps to achieve budget balance over the course of the four-year financial plan."
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Comptroller DiNapoli Releases Annual IDA Report
New York's 106 local Industrial Development Agencies (IDAs) reported 4,183 active projects with a total value of over $140 billion in fiscal year end 2024, an increase of 3.5% from the prior year, according to an annual report released by Comptroller DiNapoli.
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New Windsor Couple Plead Guilty in Connection with Theft of Over $3.4 Million Dollars
Comptroller DiNapoli and Orange County District Attorney David M. Hoovler announced that a New Windsor couple pled guilty in Orange County Court to Grand Larceny in connection with a scheme wherein two Medicaid transportation companies stole from the New York State Department of Health by fraudulently billing for Medicaid transports that either did not occur at all, or did not occur in the manner that demands for payment indicated. At the time of the plea, the couple admitted $3,434,730 was stolen from New York State’s Medicaid program pursuant to this fraudulent billing scheme.
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Greenburgh Paramedic Supervisor Accused of Forging Certification and Keeping Student Fees
Comptroller DiNapoli and Westchester County District Attorney Susan Cacace announced that the Town of Greenburgh's paramedic supervisor was charged with numerous felonies in relation to his alleged forgery of 22 medical certification cards and unlawful retention of certification fees.
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This Week in Pictures
M U N I C I P A L A U D I T S
- Village of Coxsackie – Treasurers’ Records and Reports
- Midway Fire District – Claims Auditing
- Town of Morehouse – Transparency of Fiscal Activities
- Saranac Fire District – Board Oversight
- Town of Steuben – Transparency of Fiscal Activities
- South Butler Fire District – Audit Follow-Up
- Quaker Street Fire District – Audit Follow-Up
- Caledonia Joint Fire District – Audit Follow-Up
A L S O I N T H E N E W S
- Elon Musk Accused Of Building 'Most Management-Favorable' IPO Structure At SpaceX: Report
- Finger Lakes leads in new IDA projects as scrutiny over tax breaks grows
- NYS Comptroller issues budget review for Buffalo
- State audit finds gaps in NYC schools' oversight of tech and student data
- New Windsor couple admits role in $3.4M Medicaid transportation fraud scheme
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