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.

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 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).

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.

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.

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.

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.

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.

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

New York State's Enacted Budget for the 2013-14 State Fiscal Year (SFY) reflects a continuing effort by the Executive and the Legislature to restrain spending, while holding projected gaps for the next three years to more manageable levels than has been the case over most of the past decade.