Democratic Candidate for New York City Comptroller
David Weprin has decades of experience in both City and State government, where he has held positions creating and supervising budgets and regulating financial institutions. He is a lawyer by training and spent many years working at financial service firms, focusing on public finance and specifically assisting local governments raise capital.
- Current member of the New York State Assembly representing District 24 (Queens)
- Former member of City Council, former Deputy Superintendent of the NY State Banking Commission
- Weprin has spent 20+ years in municipal finance, working at various financial firms including Stern Brothers (VP), Advest, Pearson, Donaldson, Lufkin & Jenrette, Kidder Peabody, and Paine Webber.
- J.D. Hofstra University- represented victims of medical neglect (note that Comptroller oversees settling all legal claims against the city)
- Former Deputy Superintendent of the NY State Banking Commission under Mario Cuomo – watchdog of over 3,000 financial institutions
- Former Secretary of the Banking Board of NY State – responsible for regulating financial firms
- Former Chairman of City Council Finance Committee under Bloomberg – responsible for balancing the NYC budget, including the periods after the financial crisis brought on by 9/11 and again during the 2008 Wall Street collapse
- Former Vice President at Stern Brothers, Senior positions in government as noted above
- Weprin’s 2009 Comptroller campaign was fined by the Campaign Finance Board for a variety of infractions related to fundraising and spending procedures.
- As a member of the City Council, Weprin championed several pieces of legislation to increase government transparency.
- Weprin seeks to maximize returns on the NYC pensions and will not apply social activism to his investment strategy.
- Whereas the city mandates audits every four years, Weprin would audit large agencies annually and would scrutinize the $17B in city contracts to eliminate waste and corruption.
- Weprin would open outer-borough offices of the Comptroller to ensure small businesses outside Manhattan have adequate support.
- Weprin opposes the creation of a public bank by the City, cautioning this is a misguided idea that has failed in the past.
- Weprin is in favor of legalizing marijuana, sports betting, and a commuter tax as sources for new revenue.
- Weprin opposes defunding the police.
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What does the Mayor do?
Serves as the Chief Executive The mayor has the power to appoint and remove the commissioners of more than 40 city agencies including the police, fire, education, sanitation, health and more. The mayor also has full control over the city’s public schools.
Sets budget priorities for billions of dollars The mayor and the City Council determine how city’s money should be allocated, what departments should grow or shrink, which programs should be expanded or contracted and how big the municipal workforce should be.
Manages relationships with state and federal lawmakers The mayor serves as the city’s advocate, champion and negotiator, fostering productive relationships with state and federal lawmakers.
The mayor also proposes, enacts and vetos laws, oversees major zoning, land use and housing policy decisions and make judicial appointments.
What does the District Attorney do?
The office is responsible for the prosecution of violations of New York state laws (federal law violations in Manhattan are prosecuted by the U.S. Attorney for the Southern District of New York).
A DA's duties typically include reviewing police arrest reports, deciding whether to bring criminal charges against arrested people, and prosecuting criminal cases in court. The DA may also supervise other attorneys, called Deputy District Attorneys or Assistant District Attorneys.
What does the Public Advocate do?
The public advocate is a non-voting member of the New York City Council with the right to introduce and co-sponsor legislation.
The public advocate also serves as an an ombudsman for city government, providing oversight for city agencies, investigating citizens' complaints about city services and making proposals to address perceived shortcomings or failures of those services.
Along with the Mayor and the Comptroller, the public advocate is one of three municipal offices elected by all the city's voters. In the event of a vacancy or incapacity of the mayor, the public advocate is first in line to become mayor.
What do City Council Members do?
From Woodlawn to Coney Island, every neighborhood in New York City is part of a Council District. There are 51 of these Districts, each represented by an elected Council Member.
Council Members Introduce and vote on legislation (proposed laws) having to do with all aspects of City life; negotiate the City's budget with the Mayor and approve its adoption; monitor City agencies such as the Department of Education and the NYPD to make sure they're effectively serving New Yorkers; and review land use and making decisions about the growth and development of our city.
What makes a good Comptroller?
- Complex Managerial Experience — Leads a staff of about 800 employees across all various skill sets including accountants, attorneys, economists, engineers, IT professionals, etc.
- Sound Investment Strategy — Serves as the Chief Investment Officer who has the final say in how the City’s five public pension funds totaling approximately $250 billion in assets are invested.
- Track Record of Transparency & Accountability — Serves as the fiscal “watchdog” — overseeing the auditing team for the entire City, with the power to hold the City accountable when contractors/agencies are falling short. Approves all City contracts and reviews performance.
- Government Experience (City & State) — Understands complex interplay between agencies and lawmakers. Responsible for resolving legal claims on behalf of and against the City.
- Budgeting — Advises the City on any potential developments affecting the city’s fiscal outlook, e.g. relocation of businesses outside NYC, issuing municipal debt. Sets and enforces the prevailing wage.
Robert E. Cornegy, Jr.
What does the Borough President do?
Each Borough President advises the mayor on issues relating to their respective borough. They propose legislation, zoning changes, city-wide budget recommendations, and influence direction for land-use. Borough presidents also appoint members to the New York City Planning Commission, and members to other local boards including community boards.