Reports

New York State is facing extraordinary challenges as a result of the coronavirus pandemic. Its punishing impacts include shutting down much of the economy, throwing millions of Americans out of work, and devastating State finances.

Every year, certain issues emerge as particular challenges in the State Budget. Clearly, among the most difficult this year is the structural budgetary imbalance in the State’s Medicaid program.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2019-20 through SFY 2021-22, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

New York State continues to benefit from a historically long national economic expansion, now extending a full decade. The Division of the Budget (DOB) projects healthy growth in tax receipts and federal aid for the current fiscal year.

This year’s State budget process was complicated by December and January tax revenues falling billions of dollars short of expectations. By the start of the new fiscal year on April 1, the picture was somewhat brighter as a result of stronger than anticipated revenues for the month of March and a higher than expected General Fund balance to begin the new year.

State tax revenues in December and January fell far short of earlier projections, making the process of adopting the new State budget more difficult than in the recent past.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2018-19 through SFY 2020-21, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

In governmental budgeting, there can sometimes be a tendency to focus on the short term. At any level of government, taxpayers and those who depend on public services can suffer if officials don’t ensure a strong financial foundation for the long term as well.

The State Budget determines how much can be spent in various program areas and how the necessary revenue will be raised. In recent years, annual budgets have increasingly become broader policy-making documents.

The federal government has long been a key partner in New York State’s efforts to deliver essential public services.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2017-18 through SFY 2019-20, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

Receipts from All Governmental Funds (All Funds) totaled $76.6 billion through the first half of the fiscal year, an increase of $1.5 billion or 2 percent over the same period in SFY 2016- 17.

As our nation enters its ninth year of economic expansion, New York State faces some signs of increasing fiscal challenges.

This year’s Enacted Budget for New York State provides increased resources for education, clean water, affordable housing and other essential programs. The Budget also enacts important policy changes, including raising the age of criminal responsibility and taking other steps to improve the State’s justice system.

This year’s Executive Budget contains important new proposals including tuition-free access to higher education for thousands of additional students, and increased investment in clean water for New Yorkers.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2016-17 through SFY 2018-19, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

All Funds tax collections totaled $36.9 billion through the first half of State Fiscal Year (SFY) 2016-17, a decline of 3.5 percent, or $1.3 billion, from the first six months of last year.

Each year when the State’s budget is enacted, much attention understandably is devoted to its immediate impact. But New York’s history shows that we also need to pay attention to the longer term.

New York State ended State Fiscal Year (SFY) 2015-16 in an improved fiscal position, largely reflecting an influx of non-recurring resources.

The State Fiscal Year (SFY) 2016-17 Enacted Budget includes a significant increase in school aid as well as a multibillion dollar reduction in personal income taxes to be phased in over nearly a decade.