For the week ending February 17, 2013


DiNapoli Announces $250 Million Private Equity Co–Investment Allocation for Emerging Manager Program

Comptroller Thomas P. DiNapoli announced Friday that the New York State Common Retirement Fund (Fund) has allocated $250 million to Farol Investment Advisers for private equity co–investments with the Fund’s emerging managers program. The announcement came as DiNapoli hosted the sixth annual emerging manager conference in Albany, New York.

Comptroller DiNapoli and A.G. Schneiderman Announce Felony Plea of Former Senator Shirley Huntley

Comptroller Thomas P. DiNapoli and Attorney General Eric T. Schneiderman Wednesday announced that former New York Senator Shirley L. Huntley has pleaded guilty to Tampering with Physical Evidence, an E Felony, for falsifying evidence in an effort to obstruct the investigation into the theft of a grant she sponsored for a sham non–profit entity, the Parent Workshop.

DiNapoli: Medicaid System Flaws Led to $7.8 Million in Overpayments

The Department of Health’s Medicaid program overpaid health care providers by $7.8 million over a six month period because of flaws with its eMedNY computer system, according to a report released Thursday by New York State Comptroller Thomas P. DiNapoli. Auditors from the Comptroller’s Office recouped about $7.5 million of the overpayments and took steps to prevent future payment errors.

DiNapoli: Millions Sat Idle in MTA Bank Accounts

The Metropolitan Transportation Authority (MTA) held over $90 million in funds and bank accounts that could have been used to meet its budgeted costs, according to an audit released Wednesday by New York State Comptroller Thomas P. DiNapoli. Auditors found the MTA did a poor job managing its cash–on–hand, had excess bank accounts and no set targets for short–term investing of billions of dollars.

DiNapoli: Executive Budget Continues Spending Restraint in the Face of a Challenging Economy

The 2013–14 Executive Budget continues the state’s effort to move toward long–term structural balance and reduces projected out–year budget gaps while addressing infrastructure needs, including the recovery from Hurricane Sandy, according to a report released Wednesday by State Comptroller Thomas P. DiNapoli.

DiNapoli: Growth of Local Sales Tax Collections Slows

Local sales tax collections in New York grew by $450 million in 2012, an increase of only 3.3 percent from 2011, according to a report issued Thursday by State Comptroller Thomas P. DiNapoli. New York City had a slightly better growth rate of 3.5 percent.

Comptroller DiNapoli Releases School Audits

New York State Comptroller Thomas P. DiNapoli Thursday announced his office completed the following audits: the Cortland Enlarged Central School District; and, the Pawling Central School District.

Comptroller DiNapoli Releases Municipal Audits

New York State Comptroller Thomas P. DiNapoli Thursday announced his office completed the following audits: the Village of Huntington Bay; the Town of Long Lake; the Village of Munnsville; and, the City of North Tonawanda..