Sunday, August 25, 2024

State Comptroller Thomas P. DiNapoli's Weekly News - Greater Transparency Needed From Empire State Development Corporation

 

Weekly News Header 590x202

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.

Read More

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%.

Read More

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.

Read More

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.

Read More

Audits

School & Municipal Audits

ALSO IN THE NEWS THIS WEEK

Note: Some news links may require a paid subscription. 

Post of the Week
Tom DiNapoli @NYSComptroller 

8-24-24 Tweet of the Week