State Of New York Comptrollers Office

The State of New York Comptroller's Office is an agency of the New York State government responsible for overseeing the financial operations of the state. The office is headed by the State Comptroller, currently Thomas P. DiNapoli.

History

The State of New York Comptroller's Office was established in 1797, making it one of the oldest state comptroller offices in the United States. Its primary purpose is to ensure the fiscal integrity of the state government by auditing and monitoring the financial activities of state agencies, local governments, and public authorities.

Responsibilities

The Comptroller's Office has a wide range of responsibilities, including:

Auditing

One of the main functions of the Comptroller's Office is to conduct audits of state agencies, local governments, and public authorities. These audits help ensure that taxpayer dollars are being spent efficiently and effectively. The office also conducts performance audits to evaluate the effectiveness of government programs and identify areas for improvement.

Financial Reporting

The Comptroller's Office is responsible for preparing and publishing the state's financial statements. These statements provide a comprehensive overview of the state's financial position and are used by investors, credit rating agencies, and other stakeholders to assess the state's fiscal health.

Retirement System

The Comptroller's Office administers the New York State and Local Retirement System (NYSLRS), one of the largest public pension systems in the United States. The NYSLRS provides retirement benefits to state and local government employees, as well as certain employees of public authorities and school districts.

Contract Approval

The Comptroller's Office is responsible for reviewing and approving contracts entered into by state agencies. This ensures that contracts comply with applicable laws and regulations and that taxpayer dollars are being spent wisely.

Debt Management

The Comptroller's Office manages the state's debt issuance and repayment. This includes overseeing the sale of bonds and notes to finance capital projects and monitoring the state's debt service payments.

State Comptroller

The State Comptroller is the head of the Comptroller's Office and is elected by the voters of New York State. The current State Comptroller, Thomas P. DiNapoli, has been in office since 2007. The State Comptroller serves as the state's chief fiscal officer and is responsible for overseeing the financial operations of the state.

See Also

• Government of New York
• New York State
• New York State Government

External Links

• Official Website