Financial Matters
-
Pension / Investment Management
The Comptroller is authorized by law to serve as investment advisor and custodian of assets for all five New York City Public Pension Funds, collectively called the New York City Retirement Systems (the Systems). The Comptroller also serves as a trustee of four of the five funds. The Comptroller’s Bureau of Asset Management oversees the investment portfolio of the Systems and related defined contribution funds. This portfolio is managed predominantly by external investment managers, and is largely invested in publicly-traded securities, with additional allocations to private equity, real estate, infrastructure, hedge funds, and opportunistic fixed income investments.
-
NYC Bonds
New York City sells bonds to finance the construction and repair of infrastructure projects such as roads, bridges, schools, water supply and wastewater treatment systems, so that New York continues to be a great place to live, work and visit. Projects are determined through the City’s capital budgeting process and must have useful lives of five years or longer to be funded by debt.
-
Economically Targeted Investments
The New York City Pension Funds allocate 2% of their assets to Economically Targeted Investments (ETIs)—programs designed to provide both risk-adjusted market rates-of-return and collateral benefits, such as affordable housing.
-
Checkbook NYC
CheckBook NYC is a transparency tool which provides detailed, real-time information on City spending and contracts.
-
Boardroom Accountability Project
Launched in 2014, the Boardroom Accountability Project is a groundbreaking campaign to give shareowners the right to nominate directors at U.S. companies using the corporate ballot, known as “proxy access.” This right will help shareowners ensure Boards are diverse, independent, and accountable.
-
Annual Comprehensive Financial Reports (ACFR)
In accordance with New York City Charter §93(l), the Annual Comprehensive Financial Reports (ACFR) is published within four months after the close of each fiscal year.
-
NYC Component Units Financial Statements
Component units are legally separate organizations for which the City is financially accountable. There are two types of Component units: Blended and Discretely Presented. A Blended Component unit’s financial information is reported within the City’s financial statements as if it were a part of the City. A Discretely Presented Component unit does not provide services exclusively to the City, and therefore its financial information is reported in a separate column on the City’s government-wide financial statements.
-
NYC Fiduciary Funds Financial Statements
The City of New York’s Fiduciary Funds are used to account for assets and activities when a governmental unit is functioning either as a trustee or an agent for another party. The City’s fiduciary funds include Pension Trusts, Deferred Compensation Plan, and the Other Postemployment Benefits Plan.