June 1, Saturday, 2013

New York State Passes On–Time Budget 

The New York State Legislature and Governor Andrew Cuomo agreed on a $141 billion budget for State fiscal year 2013—14, marking the third straight year the State has met its April 1st deadline. In a preliminary report issued in April, Comptroller Thomas DiNapoli applauded the accomplishment, noting that the budget restrains spending growth at a time when New York is grappling with a “painfully slow” economic recovery. More... 

Have You Lost Money? 

The Office of the State Comptroller is holding some $12 billion in unclaimed funds. By law, banks, insurance companies, utilities and many other businesses are required to surrender inactive accounts to the State. The Comptroller acts as custodian of these unclaimed funds, and will return them to their rightful owners free of charge. More... 

Labor Profile: Susan Kent, President, PEF 

As President of the New York State Public Employees Federation, AFL–CIO, the State’s second–largest public service union, Susan Kent represents some 56,000 professional, scientific and technical employees in a wide range of agencies and positions. With her election in June 2012, Kent also became the highest ranking female labor leader in New York.More... 

Pension Fund Promotes Disclosure of Corporate Political Spending 

In April, Comptroller Thomas DiNapoli announced that he had reached agreements with five Fortune 500 companies – Southwest Airlines, Dr Pepper Snapple Group, Plum Creek Timber, Harley–Davidson and Noble Energy – to disclose their political spending. DiNapoli secured similar agreements with PepsiCo, Qualcomm and KeyCorp earlier in the year.More... 


DiNapoli Calls for Increased IDA Accountability 

Comptroller DiNapoli recently released his annual performance report on industrial development agencies (IDAs) in New York State. IDAs are public benefit corporations created to promote development in local economies by attracting, retaining or expanding businesses. More... 


State Pension Fund Reaches All–Time High 

The New York State Common Retirement Fund was valued at $160.4 billion as of March 31, 2013, the highest mark in its history, with investments earning 10.38 percent for the year. More... 

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