“After a lengthy process, the state budget includes increased spending and policy changes on issues of importance to New Yorkers, including housing, health care, mental health and education. While year-over-year spending growth appears to be significant, reserves are to be maintained at 15% of spending, consistent with recommendations I have long advocated. Adequate reserve levels are critical, as out year budget gaps and an uncertain economy create future fiscal pressure.

“I am pleased the final budget does not limit the Comptroller’s review of terms and conditions of backdoor debt by public authorities. The Comptroller’s oversight is essential to ensuring transparency and accountability for New Yorkers.

“My office will release an analysis in the coming weeks as more details become known about revisions to the state’s financial plan.”