Ilya Marritz covers business for WNYC.
Comptroller Liu Sets Sights on Dept. of Education
Thursday, April 08, 2010
New York, NY –
The end of this week marks the 100th day in office for newly elected city officials, including the chief financial officer, Comptroller John Liu, who is homing in on a few signature issues.
The comptroller's two biggest responsibilities are auditing city agencies and managing about $100 billion in public pension money.
At a meeting with business people sponsored by Crain's magazine, Liu said the Department of Education is his No. 1 target for audits, and he'll pay special attention to no-bid contracts.
As for pensions, Liu said he's terminated contracts with six investment companies because of poor performance. Those companies had a combined billion dollars under management.
The comptroller also endorsed the idea of requiring a so-called "living wage" on city-subsidized development projects.