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Headlines : New York
Cuomo's plan could boost borrowing
A provision in Gov. Andrew Cuomo's proposed budget amendments could greatly expand the power of state and local governments to borrow money with less independent oversight while potentially avoiding approval from voters or the Legislature, according to three state officials familiar with the proposal.
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Headlines : New York
DiNapoli: Cuomo Risks Transparency in State Budget Proposal
Comptroller Thomas DiNapoli warned that Cuomo wants to shift oversight of contracts away from the Comptroller's Office, give the governor's office broad powers to unilaterally make spending decisions and shift billions of dollars to scandal-scarred public authorities.
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Headlines : New York
Majority of NY voters in favor of reduced pension benefits for public staffers: poll
New York voters strongly favor reduced pension benefits for future public employees and solidly oppose pay raises for state politicians and appointees for the first time since 1999, according to a new poll.
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Headlines : New York, California, Texas
States Continue to Use Dishonest Budget Tactics Making Shortfalls A Mystery
Many state legislatures have reconvened for the new legislative season to examine upcoming fiscal year budgets, and inevitably, budget shortfalls. Determining the size of those budget gaps, however, is especially difficult; the accounting maneuvers and budget gimmicks that states traditionally use to "balance" their budgets often serve as temporary façades of fiscal health.
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Headlines : New York
Shrinking State Court Budgets: Not Just A New York Thing
Forty-two state court systems had significant budget cuts last year, according to the National Center for State Courts.
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Gov. Andrew Cuomo
Office of Governor Andrew Cuomo
State Capitol
Albany, NY 12224
Phone: (518) 474-7516
http://www.ny.gov/governor/
Robert Megna, Budget Director
Division of Budget
State Capitol, Room 113
Albany, NY 12224
Phone (518) 473-0580
http://www.budget.state.ny.us/
2012 Legislative Calendar: Regular Session convenes January 4, meets throughout the year.
Legislative Budget Leaders:
Assemblyman Herman D. Farrell, Jr. (D), Chair Assembly Ways and Means Committee, farrelh@assembly.state.ny.us 518-455-5491
Sen. Carl Kruger (D), Chair, Senate Finance Committee, kruger@senate.state.ny.us (518) 455-2460
The current state budget can be found here.
New York is required to pass a "balanced budget." Article 7, Section 2 of the Constitution states the governor must present a budget of all expenditures, and the revenue sources, including new taxes, to meet those expenditures. Section 54 of the State law then charges the legislature to demonstrate its changes to the proposed budget follow Article 7. Despite these provisions, budget deficits (negative net transactions) were reported on the State's Budgetary Comparison Schedules for two of the three years examined. Under New York law, deficits can be carried over from one year to the next.
The State reports three major individual governmental funds: the General Fund, the Major Special Revenue Fund, and the General Obligation Debt Service Fund. All three major funds are budgeted (The General Obligation Debt Service Fund is not budgeted in FY05, but it is also not reported as a governmental fund). Non-major Funds that are budgeted: Special Revenue 3 and "other" out of 10, Debt Service Funds 3 and "other" out of 6 (7 FY05), and 4 and other out of 12 (11 FY06, FY05). Budgetary Comparison Schedules are missing beginning and ending balances. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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State Debt :
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HEADLINES: New York
Cuomo's plan could boost borrowing
A provision in Gov. Andrew Cuomo's proposed budget amendments could greatly expand the power of state and local governments to borrow money with less independent oversight while potentially avoiding approval from voters or the Legislature, according to three state officials familiar with the proposal.
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HEADLINES: New York, California, Texas
States Continue to Use Dishonest Budget Tactics Making Shortfalls A Mystery
Many state legislatures have reconvened for the new legislative season to examine upcoming fiscal year budgets, and inevitably, budget shortfalls. Determining the size of those budget gaps, however, is especially difficult; the accounting maneuvers and budget gimmicks that states traditionally use to "balance" their budgets often serve as temporary façades of fiscal health.
- View All New York articles
Pensions :
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HEADLINES: New York
Majority of NY voters in favor of reduced pension benefits for public staffers: poll
New York voters strongly favor reduced pension benefits for future public employees and solidly oppose pay raises for state politicians and appointees for the first time since 1999, according to a new poll.
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HEADLINES: California, Illinois, New York
Examining the Constitutionality of State Pension Schemes
Many state pension systems are in shambles, and states face the problem of being accountable for the promises made to their residents in the state's highest legal document and balancing their budget for the present and in the future.
- View All New York articles
K-12 Education :
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HEADLINES: New York
Cuomo Proposes New York Fiscal 2013 Budget of $132.5 Billion
New York Governor Andrew Cuomo proposed a fiscal 2013 budget of $132.5 billion that closes a $2 billion deficit in part by finding $1.14 billion in agency savings and centralizing purchasing and human resources.
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HEADLINES: New York
New York State Passes Budget
Just after midnight Thursday, Gov. Cuomo and lawmakers approved a budget that lowers total spending by about 1%, but relies on billions of dollars in cuts that have not yet been specified.
- View All New York articles
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Solutions: New York
The Case for a Cap
This report analyzes the tax cap proposal in light of previous efforts to limit property taxes in New York and other states. Among the findings, New York's local property tax levels are exceptionally high by national standards and have grown by more than double the inflation rate over the past decade, justifying the governor's push to limit future growth.
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Solutions: New York
49 Suggestions for Cutting Billions in State's Medicaid Costs
Personal shopping and cleaning services for the disabled would be eliminated, weak hospitals could be merged and brand-name drugs would be limited under a series of budget-cutting proposals announced by the New York State Health Department.
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Solutions: New York
Blueprint for a Better Budget
The document explains why and how New York state developed such massive budget deficits and identifies programmatic changes to begin closing the gaps, including privatization and competitive contracting, cost reductions and tax policy goals to promote economic growth.
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New York
Majority of NY voters in favor of reduced pension benefits for public staffers: poll
New York voters strongly favor reduced pension benefits for future public employees and solidly oppose pay raises for state politicians and appointees for the first time since 1999, according to a new poll.
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California, Illinois, New York
Examining the Constitutionality of State Pension Schemes
Many state pension systems are in shambles, and states face the problem of being accountable for the promises made to their residents in the state's highest legal document and balancing their budget for the present and in the future.
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New York
Plan shakes state system
Billions of dollars are at stake in Gov. Andrew Cuomo's plan to shift new public workers into 401(k)-like individual retirement plans.
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OPINION : New York
A meaningful new try on pensions
New York needs a pension system that is financially more transparent and sustainable. Ideally, New York would break entirely with the defined-benefit approach and move all government workers to a 401(k)-style defined-contribution system -- now the prevalent retirement model in the private sector. At the very least, real pension reform would require employees to share in the risk.
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New York
Cuomo Proposes New York Fiscal 2013 Budget of $132.5 Billion
New York Governor Andrew Cuomo proposed a fiscal 2013 budget of $132.5 billion that closes a $2 billion deficit in part by finding $1.14 billion in agency savings and centralizing purchasing and human resources.
- View All Pensions
