Reports

Public authorities make up an increasingly large and influential sphere of government in New York State.

The State Fiscal Year (SFY) 2013-14 Executive Budget continues the State’s effort to move toward long-term structural balance.

Longstanding concern over New York’s high debt levels, debt service costs, and imprudent use of borrowing led the Legislature to impose limits on State debt and enact related reforms in 2000.

Absent Congressional action, significant revisions to federal tax and spending policies are scheduled to take effect in January 2013.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2012-13 through SFY 2014-15, issued pursuant to Chapter 1 of the Laws of 2007, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

Midway through the current fiscal year, tax revenue trends in New York State are running below projections, signaling the need for careful monitoring by State officials and policy makers over the next six months.

Obesity rates in New York State and the nation have jumped sharply in recent decades. Childhood obesity, in particular, has become much more common – nearly tripling nationwide since 1980.

Growth in the number, cost and influence of public authorities has necessitated increased disclosure and oversight of their activities, which historically have been less transparent than those of State agencies.

The Comprehensive Annual Financial Report for the New York State and Local Retirement System (the System or NYSLRS) for the fiscal year ended March 31, 2012.

In the past few years, New York State has made important progress toward achieving long-term budget balance. The State has enacted significant changes in its three largest expenditure categories — Medicaid, school aid and agency operations — and created a new cap on local property taxes, ushering in a new era of State and local fiscal policy.

The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2012.

In late May 2012, the New York State Thruway Authority announced that it was beginning the process of imposing a 45 percent average toll increase for larger commercial vehicles. This increase, intended to take effect on September 30, 2012, comes after the Thruway Authority has increased tolls for all classes of vehicles in 2005, 2008, 2009 and 2010.

New York State is a leading agricultural state with 36,300 farms that produced $4.7 billion in products in 2010. New York ranks among the largest producers in the nation for some products, including ranking second in wine production.

On July 1, 2012, the interest rate on subsidized Direct Federal Loans for college students (also known as Stafford Loans) is set to revert to 6.8 percent for new loans, unless the U.S. Congress acts to prevent the increase.

New York is embarked on a new era of State and local fiscal policy. The State is working to resolve longstanding budgetary problems through ambitious policy changes, the full impacts of which will become clear only over time.

In 2011-12, vendors were paid interest totaling $1,925,986, representing an increase of $526,531, or more than 37 percent, above the prior year. 

New York added more jobs in the past two years than previously reported, according to revised data from the New York State Department of Labor.

Cost containment actions in the State Fiscal Year (SFY) 2011-12 Enacted Budget, including spending caps for State-funded Medicaid and school aid, have greatly reduced the structural deficit that has long plagued the State.

The Tuition Assistance Program (TAP) is among the nation’s largest state‐ sponsored, need‐based grant programs for student aid.

An era of tight budgets has sparked renewed interest in reducing government costs and identifying ways for State agencies to function more cost effectively. To help identify opportunities to achieve more efficient State operations, the Office of the State Comptroller has prepared this statistical overview of overtime use by State agencies over the past five years.