Reports
Economic Outlook Report 09/16/20 - Census 2020
The 2020 Census will conclude data collection operations on September 20, 2020. As of September 11, 89.6 percent of New York households were counted, slightly below the national figure. Figures for all states are available via the Census Bureau website
A complete count of New York’s population can help drive federal funding to our State, while ensuring that New Yorkers’ views are fully reflected in the enactment of federal laws and in the determination of our national leadership. More information is available at the Office of the State Comptroller’s website.
Economic Outlook Report 09/16/20 - New York State's Budget
State tax revenues continued to show sharp year-over-year declines in August. Total tax receipts of X were Y percent below those of August 2019. For the first five months of the fiscal year, tax revenues have totaled X below the previous year. The latest figures again highlight the severe budgetary impacts of the COVID-19 pandemic, presenting difficult choices for policy makers if the State does not receive significant additional relief from the federal government.
Total State spending through August was X below the same period in 2019. (will add another sentence or two of detail)
The State’s General Fund balance was $XX.X billion as of September 11, compared to $12.8 billion on August 28. Among other factors contributing to that balance are $4.5 billion in proceeds from short-term borrowing that is anticipated to be repaid before the end of the fiscal year, and more than $1.9 billion in delayed payments to local governments, nonprofit organizations and other entities.
The federal CARES Act provided $5.1 billion to New York State through the Coronavirus Relief Fund. As of September 11, the State’s CARES Act Fund held a balance of just under $4 billion. A total of $1.1 billion had been spent as of that date.
