Reports

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.

As Chief Fiscal Officer for the State of New York, the Comptroller annually examines the Executive Budget proposal and the Enacted Budget, as well as issues monthly reports on the State’s cash position. This report provides an analysis of the State Fiscal Year (SFY) 2012-13 Executive Budget.

In the past two years, New York State has regained 46 percent of the jobs lost during the recession, but not all parts of the State have benefited equally.

The Office of the State Comptroller maintains extensive data on receipts and disbursements, which reflect the flow of revenues and expenditures through the State’s Central Accounting System (CAS).

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2011-12 through SFY 2013-14, issued pursuant to Chapter 1 of the Laws of 2007, is intended to facilitate continuing discussion of the State’s economic condition and the State Budget.

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, 2011.

New York State has shown resilience in challenging times. While New Yorkers have been hit hard by the Great Recession, our past investments in infrastructure, facilities for culture, education and recreation, a well-educated workforce, innovative businesses, progressive human services organizations, and a world-leading financial sector provide a sound foundation for a return to prosperity.

The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2011.

In 2010-11, vendors were paid interest totaling $1,398,859, representing an increase of $486,799, or more than 53 percent, above the prior year. 

For many years, budgets in New York State, in addition to being enacted after the start of the fiscal year, have been characterized by overly optimistic revenue estimates, unrealistic spending targets, and excessive reliance on temporary or non-recurring revenues.