H. Carl McCall, New York state comptroller, said today that short-term investments by his office earned New York $300.5 million in interest during the 1997-'98 fiscal year, ended March 31.
``For the 12-month period, based on an average daily invested balance of $5.35 billion, our average yield was 5.62%,'' he said. ``This outpaced a 5.18% average rate of return for 3-month Treasury bills for the same period.''
Money collected by the state but not needed immediately to meet expenditures, is,placed in a short-term investment pool and invested by the comptroller.
