Reports

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2010-11 through SFY 2012-13, 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 United States is slowly recovering from the worst recession in decades, which was precipitated by high-risk lending practices.

New York State's Farmland Protection Program was created in 1992 to preserve high quality working farmland and to reduce pressures on farm families to sell their lands and leave the farming industry. Counties and towns receive financial support from the program to develop farmland protection plans and to purchase development rights on farmland.

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, 2010.

New York continues to struggle with the fiscal challenges associated with the worst economic crisis since the Great Depression. 

As with other states, New York State has struggled with the lasting effects of the nation’s longest recession since the Great Depression of the 1930s.

The Comprehensive Annual Financial Report for the State of New York for the fiscal year ended March 31, 2010.

The 2010-11 State Fiscal Year (SFY) began more than 100 days ago, but the State budget is still incomplete. Since March, the Executive has proposed and the Legislature has enacted 12 temporary spending bills to allow governmental functions to continue during the budget delay.

In 2009, the Division of State and Local Government Accountability in the Office of the State Comptroller audited State agency and municipal government implementation of programs funded by the Environmental Protection Fund (EPF or Fund), a dedicated fund that provides support for State and municipal parks, municipal recycling programs and control of water pollution, as well as the majority of State support for conservation of open space and other important environmental programs.

The proposed State Fiscal Year (SFY) 2010-11 Executive Budget released in January projected a five-year cumulative current services deficit exceeding $60 billion.

In State Fiscal Year (SFY) 2009-10, All Funds spending for New York State amounted to $126.9 billion. Of this amount, approximately $38.4 billion or 30.2 percent was spent on Medicaid.

While the State ended State Fiscal Year (SFY) 2009-10 with a positive General Fund balance and all restricted reserves intact, this was accomplished because the Executive delayed $1.1 billion more in payments than had been anticipated in February.

The General Fund is the main operating fund of the State and is traditionally used to measure the State’s projected budget deficit.

New York State has relied far too heavily on debt for far too long. Ten years after enacting legislation to slow the growth in borrowing and end the use of debt for fiscal gimmicks, New York continues to rely heavily on debt. A

The need for fiscal reform in New York State could not be more compelling. Despite significant spending cuts and revenue increases proposed in the Executive Budget, New York State still faces major projected budget gaps in future years—a cumulative three-year General Fund budget deficit that could exceed $30 billion through State Fiscal Year (SFY) 2013-14.

The Executive Budget released in January 2010 proposed to roll the projected $500 million current year General Fund deficit into State Fiscal Year (SFY) 2010-11.

The Executive has proposed a spending plan for State Fiscal Year (SFY) 2010-11 that relies heavily on recurring spending cuts and revenue actions to produce a cash balanced budget, including provisions to roll a projected current year deficit forward.

New York State has already been forced to take extraordinary measures to meet its existing obligations in State Fiscal Year (SFY) 2009-10. The decline in revenue associated with the most severe recession since the Great Depression and the State’s continuing failure to address its worsening structural budget imbalance have combined to create a severe cash flow crunch.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2009-10 through SFY 2011-12, 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, 2009.