Statement By Deputy Attorney General For Public Advocacy Dietrich Snell Regarding The Investigation Of The St. Patrick's Day Parade Committee, Inc.

The Attorney General's Charities Bureau initiated a review in August of 2001 of the actions and activities of the Saint Patrick's Day Parade, Inc., a not-for-profit corporation operating in New York State. The review and investigation focused on the parade's corporate and governance structures, its fund-raising and solicitation practices, and its stewardship and disposition of charitable assets.

The investigation is now concluded and has resulted in an Assurance of Discontinuance co-signed by Parade Committee officials and the Attorney General's Office, which modifies the Committee's practices. Among the significant elements of the assurance are:

o Explicit acknowledgment of the ability of Parade Committee trustees, officers, and directors to review and inspect the Committee's books and records;

o The Parade Committee's undertaking to provide the Attorney General annually with a detailed fiscal year budget, and provide dollar for dollar expenditure reports related to operation of the Committee and the parade; and

o The Parade Committee's agreement that vendor expenses incurred by the Committee will be paid directly to vendors, and payment checks in excess of $500 will have the signature of two authorized signatories, independent of the payee.

This assurance is in place for a period of three years and was executed on September 4, 2002.