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Comptroller Liu Sets Sights on Dept. of Education

Thursday, April 08, 2010

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.

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