FOR RELEASE:

Comptroller DiNapoli Releases January Cash Report

State Comptroller Thomas P. DiNapoli today released the January Cash Report.

The report found General Fund spending (including transfers) totaled $40 billion, which represented a $1.6 billion or 4 percent increase over spending during the same period last year. This increase was primarily due to higher spending in education (+$1.1 billion) and social services (+$714 million), but this spending was offset by reductions in health/environment (-$408 million) spending. General Fund spending was $34 million lower than Financial Plan projections updated in the 21-day Amendments.

General Fund receipts (including transfers from other funds) totaled $44.2 billion, which is $1.1 billion or 2.4 percent, higher than 2006-07 through January 2007. This increase was $157 million over Financial Plan projections updated in the 21-day Amendments. Personal Income Tax refunds issued through the end of January were $1.1 billion higher than the same time last year.

All Governmental Funds spending was $90.8 billion, which was $2.7 billion or 3.1 percent over 2006-07 figures through January 2007. While spending for social services was flat, all other spending patterns were similar to General Fund spending patterns. All Funds receipts through January grew $1.8 billion or 1.9 percent.

Click here for a copy of the report.

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