"New York is facing great opportunities and challenges in the year ahead. The Governor has put forth an ambitious agenda to move our state forward, while renewing his commitment to hold the line on spending.

"The state is in a stronger fiscal position than it has been for some time, and the Governor and Legislature deserve credit for reducing the structural budget imbalance and passing on-time budgets. While revenues have been strong this fiscal year, there are cautionary signs in the economy and it is wise to live within our means.

"While our state's economy is improving, this recovery is not being equally shared across the state. The Governor is right to focus on how to bring jobs and economic prosperity to all corners of the state, and I look forward to working with the Governor and Legislature to make these investments pay off for hard-pressed taxpayers.

"The state also has the rare opportunity to take advantage of a significant windfall of cash from legal settlement monies, totaling more than $5 billion. We must carefully and publicly consider our options to maximize the potential of these dollars. This money should be used to fix our aging infrastructure or pay for other one-time expenses.

"In the coming weeks, my office will thoroughly review the Executive Budget, examine the long-term impact of his proposals, and provide a detailed analysis."