Tallying Albany’s revenues by E.J. McMahon | | NY Torch

New York State's 2010-11 2011-12 fiscal year appears to be off to a good start. Tax collections for the first quarter of the year were nearly $800 million above Governor Andrew Cuomo's initial budget projections, according to the June cash report posted today by state Comptroller Thomas DiNapoli.

Return of The Whopper by E.J. McMahon | | NY Torch

"New York has always paid its pension bills on time," state Comptroller Thomas DiNapoli boasted yesterday, in announcing the state pension fund's 14.6 percent return on assets during the fiscal year that ended March 31. But in fact, under a 2010 law ...

Cuomo, DiNapoli and the invisible elephant by E.J. McMahon | | NY Torch

Public schools in New York are awfully expensive, and their costs continue to rise at a pace that taxpayers can't afford. So how can schools cope with a needed reduction in state aid?

Governor Andrew Cuomo has a simple and blunt prescription: "less...

Risk, schmisk by E.J. McMahon | | NY Torch

It's official: after a decade in which the New York State pension fund's annual return on assets averaged less than half its target rate, the fund will need to jack up its taxpayer-funded contribution rates next year, Comptroller Thomas DiNapoli announced today.

New York State’s pension pit by E.J. McMahon | | NY Torch

State Comptroller Thomas DiNapoli yesterday issued a happy talk news release touting the state retirement system's 26 percent return on investments in fiscal 2009-10, which ended March 31. “The Fund remains one of the strongest in the U.S.,” DiNapoli said.

DiNapoli’s Reform Plan NY Torch

State Comptroller Thomas DiNapoli today issued a "Strategy for Fiscal Reform" that focuses on the budget process, but his most significant and potentially valuable recommendation deals with debt. (more…)...

“Barely scraping by” NY Torch

New York is running out of cash, Comptroller Thomas DiNapoli reported today.  The situation would be worse if Governor Paterson had not ordered delays in portions of some local aid payments, prompting the New York State United Teachers union to file...

NYS pension fund up, but still down NY Torch

The market value of assets in New York State's Common Retirement System increased by 18.3 percent during the first half of the 2009-10 fiscal year, Comptroller Thomas DiNapoli announced today.   That brings the total fund value to $126 billion — ...