December 29, 2009
DiNapoli Releases State Cash Watch Numbers
State’s Cash Resources at All-Time Low
|December 29, 2009|
|State Funds Available Cash Start of Business||$3.3 billion*|
|Pending Payments Start of Business||$568.1 million**|
|Estimated State Fund Receipts||$488.8 million***|
|Estimated State Funds Available End of Business (Closing Balance)||$3.2 billion****|
|*Amount of cash on hand to pay bills
**Vouchers payable today, does not include STAR, general purpose school aid and month-end Medicaid payments
***Tax, federal and misc. receipts from agencies received today
****Amount of cash on hand after paying bills and receiving in revenue
On December 30, the state will pay STAR aid payments totaling $1.8 billion. The state is required to make these payments by January 4. As ordered by the Governor, the state Division of the Budget (DOB) issued a certificate of approval to the Comptroller’s office ordering a 19 percent reduction in STAR aid payments.
Other significant payments expected tomorrow, also due by January 4, include general support for public schools of $384.5 million, which is expected to be paid at 100 percent, and month-end Medicaid payments to providers totaling $1.3 billion. This is one of highest Medicaid payments ever made by the state.
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.