Reports

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Budget & Finances

March 2010 —

New York State has relied far too heavily on debt for far too long. Ten years after enacting legislation to slow the growth in borrowing and end the use of debt for fiscal gimmicks, New York continues to rely heavily on debt. A

Budget & Finances

March 2010 —

The need for fiscal reform in New York State could not be more compelling. Despite significant spending cuts and revenue increases proposed in the Executive Budget, New York State still faces major projected budget gaps in future years—a cumulative three-year General Fund budget deficit that could exceed $30 billion through State Fiscal Year (SFY) 2013-14.

Economy, Environment

February 2010 —

Agriculture is important to New York State’s economy, and takes place in almost every region of the State.

Budget & Finances

February 2010 —

The Executive Budget released in January 2010 proposed to roll the projected $500 million current year General Fund deficit into State Fiscal Year (SFY) 2010-11.

Economy

February 2010 —

The current recession has had a significant impact on New York State’s residents. Jobs have been lost in virtually all industries in New York State, and the unemployment rate reached 9 percent in December 2009—a rate last seen in April 1983.

Budget & Finances

February 2010 —

The Executive has proposed a spending plan for State Fiscal Year (SFY) 2010-11 that relies heavily on recurring spending cuts and revenue actions to produce a cash balanced budget, including provisions to roll a projected current year deficit forward.

Budget & Finances

November 2009 —

New York State has already been forced to take extraordinary measures to meet its existing obligations in State Fiscal Year (SFY) 2009-10. The decline in revenue associated with the most severe recession since the Great Depression and the State’s continuing failure to address its worsening structural budget imbalance have combined to create a severe cash flow crunch.

Budget & Finances

November 2009 —

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2009-10 through SFY 2011-12, issued pursuant to Chapter 1 of the Laws of 2007, is intended to facilitate continuing discussion of the State’s economic condition and the State Budget.

Infrastructure, Transportation

October 2009 —

New York State and its local governments are responsible for the care and maintenance of more than 113,000 miles of highways and more than 17,400 bridges.

Budget & Finances, Pension & Retirement

September 2009 —

The Comprehensive Annual Financial Report for the New York State and Local Retirement System (the System or NYSLRS) for the fiscal year ended March 31, 2009.

Education

September 2009 —

The State University of New York (SUNY) system represents an excellent value to its many students, regardless of resident status. The State-operated system enrolls well over 400,000 students at its 64 campuses, of which 13 are university centers, 21 are colleges and 30 are community colleges. Tuition dollars combined with State and county revenues support the $10.7 billion SUNY budget.

Budget & Finances

September 2009 —

The State of New York continues to face serious challenges to its fiscal health. The State has continued on the unsustainable course of making recurring spending commitments that are not backed by recurring revenues, and it continues to rely heavily on debt.

Budget & Finances

September 2009 —

The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2009.

Economy

May 2009 —

Over the past five years, the average cost of a college education has grown by over 30 percent, more than twice as fast as the inflation rate during this period.

Budget & Finances

May 2009 —

The Enacted Budget for State Fiscal Year (SFY) 2009-10 clearly demonstrates the need for comprehensive fiscal reform.

Budget & Finances

January 2009 —

The December 2008 Cash Report indicates that tax collections, while in line with current Financial Plan projections released with the Governor’s proposed budget on December 16, again illustrate a slowing economy.

Budget & Finances

December 2008 —

In response to the ongoing economic crisis in the State and nation, the State Fiscal Year (SFY) 2009-10 Executive Budget recommends $9.5 billion in spending reductions, $3.1 billion in new and higher taxes and fees, and $1.1 billion in nonrecurring resources to close an anticipated $13.7 billion SFY 2009-10 General Fund deficit, including shortfalls expected in the Health Care Reform Act (HCRA) funds.

Economy, Wall Street

December 2008 —

New York State's economy is interdependent with the major U.S. automobile makers through New York State based auto- related jobs and billions of dollars of debt held by New York based financial institutions.

Budget & Finances

November 2008 —

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2008-09 through SFY 2010-11, issued pursuant to Chapter 1 of the Laws of 2007, is intended to facilitate preliminary discussion on the State’s economic condition and the upcoming budget for SFY 2009-10.

Budget & Finances

October 2008 —

This report is part of a series of quarterly reports that highlight key aspects of the State Financial Plan, including variances and risks, based on actual revenue and spending information from the Office of the State Comptroller Monthly Cash Reports.