State tax revenues in December and January fell far short of earlier projections, making the process of adopting the new State budget more difficult than in the recent past.

This year’s State budget process was complicated by December and January tax revenues falling billions of dollars short of expectations. By the start of the new fiscal year on April 1, the picture was somewhat brighter as a result of stronger than anticipated revenues for the month of March and a higher than expected General Fund balance to begin the new year.

New York State continues to benefit from a historically long national economic expansion, now extending a full decade. The Division of the Budget (DOB) projects healthy growth in tax receipts and federal aid for the current fiscal year.

This Report on Estimated Receipts and Disbursements for State Fiscal Year (SFY) 2019-20 through SFY 2021-22, issued pursuant to Section 23 of the State Finance Law, is intended to enhance analysis and discussion of the State’s economic condition and the State Budget.

The national economy has now been growing for more than a decade – a lengthy expansion, by historical standards. While we have no way of knowing exactly when that will change, we can be sure that at some point a downturn will come. When that happens, the State must be prepared to safeguard essential services and avoid undesirable tax increases.

The number of Hispanic-owned businesses in New York State totaled 193,200 in 2007, the latest year for which data are available. This represented an increase of 85.4 percent compared with the 1997 level, or nearly three times the rate of growth in the total number of businesses in the State. 

Spanish

Between 1990 and 2014, the Hispanic and Latino population in New York State grew by 66 percent, reaching nearly 3.7 million (19 percent of the population). Nearly half of Hispanic New Yorkers (including Latinos) were born in New York State, and more than three-quarters are United States citizens by birth or naturalization.

New York State offers a variety of programs, services and benefits for the nearly 900,000 veterans living in the State. These programs are intended to help veterans address any challenges they may face as a result of their military service, while honoring their dedication and the sacrifices they have made on behalf of our country.

The directory presents and tracks individual agency expenditures by categories such as supplies, equipment, maintenance and repairs, and more.

New York State and its local governments are responsible for the care and maintenance of more than 113,000 miles of highways and more than 17,400 bridges.