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December 18, 2009



DiNapoli Releases State Cash Watch

New York State Comptroller Thomas P. DiNapoli today released an update on the state’s cash flow. The Cash Watch update is part of DiNapoli’s on-going effort to increase fiscal transparency for the state’s taxpayers.

“The state’s cash balance continues to be tight,” DiNapoli said. “The cash-on-hand this December is at the lowest level in the last decade. Several big payments are still pending this month so we must remain vigilant in monitoring the state’s cash balance.”

CASH WATCH
December 18, 2009
State Funds Available Cash Start of Business $1.9 billion*
Pending Payments Start of Business  $612.6 million**
Estimated State Fund Receipts $621.9 million***
Estimated State Funds Available End of Business (Closing Balance) $1.9 billion****
*Amount of cash on hand to pay bills
**Vouchers payable today
***Tax, federal and misc. receipts from agencies received today
****Amount of cash on hand after paying bills and receiving in revenue

Additional significant payments scheduled for December include: $2.5 billion for School Property Tax Relief Program (STAR), $398 million for welfare reimbursements to counties and $247 million to insurance carriers. STAR payments, along with others, are expected to be reduced by the Division of the Budget by approximately 19 percent. STAR payments are typically made at the end of December.

The State Comptroller’s office processes approximately 130,000 state payments daily. In State Fiscal Year 2008-09, it processed more than 34 million payments totaling approximately $103 billion.

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