At the end of the 2003-2004 fiscal year, the State’s General Fund was able to report an operating surplus of $3 billion, largely as a result of using the proceeds of tobacco bonds to pay operating expenses.
Reports
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Budget & Finances
September 2004 —
The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2004.
Budget & Finances
September 2003 —
This past year, New York faced extraordinary fiscal challenges as a result of the economic downturn, the failure to exercise budgetary restraint during more prosperous times, and the failure to act quickly when the State’s finances began to show signs of difficulty, as well as the collapse of the stock market through 2002 and the devastation, both in human and financial terms, of 9-11.
Budget & Finances
September 2003 —
The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2003.