Message from the Comptroller
Despite significant uncertainty caused by inflation and other factors, State Fiscal Year (SFY) 2022-23 reflected continuing recovery from COVID-19 and economic growth. In this environment, State policymakers increased support for schools, health care and other programs. At the same time, new risks to financial stability are emerging. These include unexpected costs to support an influx of migrants seeking asylum and significant reductions to projected State tax revenues driven by declining personal income tax receipts.
About this Report
This report provides citizens with an overview of the financial condition of New York State. It presents selected financial, economic, and demographic information in an easy-to-understand format.