2017 Financial Condition Report

For Fiscal Year Ended March 31, 2017

2017 Financial Condition Report

For Fiscal Year Ended March 31, 2017

Message from the Comptroller

I am pleased to present the State of New York’s Financial Condition Report for the fiscal year ended March 31, 2017.

New York State’s short-term financial condition has improved in recent years, but concerns are on the horizon. As the United States enters its ninth year of economic expansion, New York faces increasing fiscal challenges. The State’s latest financial projections contain projected budget gaps in the next three fiscal years that average more than $5.9 billion annually before potential gap-closing actions.

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About this Report

This report provides citizens with an overview of the financial condition of New York State. It presents selected financial, economic, and demographic information in an easy-to-understand format.

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Table of Contents