2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Public Safety
Number of Crimes and Crime Rates Rise for the First Time in Eight Years
- The number of crimes in seven categories increased for the first time since 2012, rising 1.5 percent to 341,908 in 2020, according to preliminary data reported to the State Division of Criminal Justice Services (DCJS). Motor vehicle thefts increased by the greatest percentage (54.1 percent), followed by murders (45.8 percent), burglaries (16.6 percent) and aggravated assaults (4.4 percent). DCJS recorded decreases in rapes (15.8 percent), robberies (3.2 percent) and larcenies (3.1 percent).
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Public Welfare
Public Assistance Recipients Increase for the First Time in Five Years
- Family Assistance (FA) provides up to 60 months of cash assistance to eligible needy families; Safety Net Assistance (SNA) provides cash or non-cash assistance to eligible single adults, childless couples, persons who have exceeded the 60-month limit on Family Assistance, children living apart from adult relatives and certain other individuals. SNA is largely funded by the State and the counties, while FA is funded by the federal government.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Public Health
Enhanced Federal Funding Helps Lower State and Local Medicaid Spending; Overall Spending Decreases Slightly
- Enhanced federal Medicaid funding during the pandemic helped lower State Medicaid spending by $4.1 billion (15.4 percent) to $22.5 billion and local Medicaid spending by $693 million (8.3 percent) to $7.7 billion in SFY 2020-21. Federal COVID relief legislation shifted $3.4 billion in State Medicaid costs and $754 million in local Medicaid costs to the federal government.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Capital
A robust, efficiently managed capital investment program can support healthy economic growth, while the deterioration of capital assets can weaken the State’s economy and its ability to attract and retain business. Capital assets include not only highways and bridges, but also facilities for education, government, health, housing, environmental conservation and recreation.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Total Spending
Spending generally reflects the State’s program priorities. Comparing spending to revenue provides an indication of the State’s ability to support continuing programs. State spending, which includes spending from federal funds, is recorded on a cash basis.
See Appendices 1 and 2 for a breakdown of State spending by major service function and funding source for the past five years.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Total Receipts
Revenues are affected by economic changes and changes in federal and State policies. Tax base is a measure of the State’s ability to generate revenue. A decreasing tax base may force spending reductions, increased taxes, or both. Receipts are revenues that have been recorded on a cash basis.
See Appendix 3 for a breakdown of State receipts by major source for the past five State fiscal years.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Fund Financial Data
Fund financial statements provide a short-term view of finances. As such, these statements only focus on the inflows and outflows of current financial resources—cash or liquid assets that are available to pay current obligations (or will be soon).
Funds represent sources of funding and spending for particular purposes.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Government-Wide Financial Data
Government-wide financial statements provide a long-term view of finances. They record revenues and expenses when the earnings process is complete (full accrual basis), as opposed to when they are actually received or paid (cash basis).
Each statement breaks down the activities of State government into two types:
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
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.
2021 Financial Condition Report
For Fiscal Year Ended March 31, 2021
Message from the Comptroller