Wednesday, July 31, 2013

New York State Facing $2 Billion Plus Budget Gaps For Next Several Years Warns State Comptroller DiNapoli: Full Report

From The Journal News,, "DiNapoli warns of growing state budget gaps" by Joseph Spector, Albany Bureau Chief:
New York could face rising budget gaps if the economy doesn't improve and the state lets some taxes expire as planned, Comptroller Thomas DiNapoli said in a report Tuesday.

The state's five-year fiscal outlook expects budget gaps of $2 billion next fiscal year and $2.9 billion in the two subsequent years. DiNapoli warned that the budget gaps could be as high as $6 billion if the state's revenue and spending projections aren't met.

"The use of non-recurring or temporary resources to meet recurring expenses exacerbates the structural deficit, making future budgeting more difficult," the report said.
NYS Comptroller's report is available as a PDF and embedded below.

NYS Comptroller Report on Fiscal Year 2013-14

No comments:

Post a Comment