Report shows rural counties face population losses, aging communities.
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.
At the end of SFY 2022-23, the State reported $116.7 billion in capital assets, an increase of $4.4 billion (4 percent) from the prior year.
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.
As required by Section 196 of the Navigation Law, the Comptroller prepares an annual report to the State Legislature and the Governor. The report includes: a description of the costs and damages paid by and recovered for the Fund; the monies spent pursuant to Section 186 (including amounts spent for oil spill prevention, training activities and equipment purchased), and the economic and environmental impacts on the State.
New York State Comptroller Thomas P. DiNapoli today released a report examining demographic, economic and quality of living trends in 10 rural counties in New York state. Most of the counties had population losses, aging residents, a shrinking labor force, as well as challenges with housing availability and access to health care, food and broadband.
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.
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.
