New York City Comptroller

The Office of Comptroller of New York City, a position established in 1801, is the chief financial officer and chief auditor of the city agencies and their performance and spending. The comptroller also reviews all city contracts, handles the settlement of litigation claims (amounting to $975 million in 2019), issues municipal bonds, and manages the city's very large pension funds ($240 billion in assets under management as of 2020). The comptroller is elected citywide to a four-year term, and can hold office for two consecutive terms. As of 2021, the comptroller had a staff of 800 people, and a budget of over $100 million. If vacancies were to occur simultaneously in the offices of Mayor of New York City and New York City Public Advocate, the comptroller would become acting mayor. The current comptroller is Democrat Brad Lander. He was elected in 2021. Duties and staff The comptroller is responsible for auditing the performance and finances of city agencies, making recommendations regarding proposed contracts, issuing reports on the state of the city economy, marketing and selling municipal bonds, and managing city debt. The Comptroller also "is the custodian and investment advisor to the Boards" of the five pension funds of the city, which are collectively referred to as "NYC Public Pension Funds" or "New York City pension funds". The funds collectively amounted to $240 billion in assets under management as of , the fourth-largest public pension plan in the US. The comptroller's regulations are compiled in Title 44 of the New York City Rules.