Report on the State Fiscal Year 2013-14 Executive Budget, February 2013
The State Fiscal Year (SFY) 2013-14 Executive Budget continues the State’s effort to move toward long-term structural balance.
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.
State Fiscal Year (SFY) 2012-13 brought serious budgetary challenges, including the second most expensive storm to hit the United States and a still-slow recovery from the worst economic downturn since the Great Depression.
After many years of structural budgetary imbalance, New York State has made strides toward achieving equilibrium between recurring revenues and ongoing expenditures.
The State’s All Governmental Funds tax collections through the first quarter of the 2013-14 fiscal year were $321 million higher than projected in this year’s Enacted Budget Financial Plan.
Midway through State Fiscal Year (SFY) 2013-14, overall tax collections are slightly below the latest Division of the Budget (DOB) projections included in the First Quarter Update to the SFY 2013-14 Enacted Budget Financial Plan.
This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2013-14 through SFY 2015-16, issued pursuant to Section 23 of the State Finance Law (as amended by Chapter 1 of the Laws of 2007), is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.
All Governmental Funds tax collections through the third quarter of State Fiscal Year (SFY) 2013-14 were $534 million lower than projected in the most recent update to the SFY 2013-14 Enacted Budget Financial Plan released in November 2013.
Tax “check-off” programs provide a means for taxpayers to make voluntary contributions for various causes as part of their federal and State income tax filings simply by marking an appropriate box on their tax forms.
The State Fiscal Year (SFY) 2014-15 Executive Budget holds the promise that New York State can achieve ongoing budgetary balance after decades of nearly continuous structural gaps.