State Comptroller Thomas P. DiNapoli
Statement on the State Budget
Even though the budget was 125 days late, there was some positive news yesterday. The Legislature did avoid massive borrowing to close the deficit. And though it looks like some FMAP money will be approved in Washington, the budget does include a contingency plan in case the federal funding is not approved.
But all in all, this budget was not worth the wait. There are significant risks in this budget and little has been done to align recurring spending with recurring revenues. The entire budget process still reeks of dysfunction and nothing was done to reform that process.
New York failed to learn the obvious lessons from last year’s budget crisis. My office will be releasing a detailed analysis of the enacted budget within the next few weeks. I will monitor and report on the state’s spending and revenues throughout the year.