New York

  • In The News
  • Background
  • Issues
  • Solutions
  • Pensions
  • Commentary
    • Budget timeline: Annual 

      Fiscal Year starts: April 1

      The current state budget can be found here.

      Find the legislative session calendar here.

      Find the current legislative leaders here.


      NY Gov Cuomo

      Gov. Andrew Cuomo
      Office of Governor Andrew Cuomo
      State Capitol
      Albany, NY 12224
      Phone: (518) 474-7516




      Robert Megna, Budget Director
      Division of Budget
      State Capitol, Room 113
      Albany, NY 12224
      Phone (518) 473-0580



      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities.  


      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.


      Empire Center logo

    • State Debt :


      State Budget Shortfalls Update - January 28, 2015

      State Budget Solutions | by Bob Williams | January 28, 2015

      State Budget Solutions is tracking the budget shortfalls, as reported by government agencies and governors in every state. Some of these deficits are immediate problems, while others are long term problems that need to be tackled sooner than later.

    • HEADLINES: Ohio, New York, North Carolina

      State Governments in an Era of Unemployment Debt

      State Budget Solutions | by Daniel Wang | September 22, 2014

      Since the 2009 recession, states have been plagued by a surging demand in unemployment compensation. 

    • View All New York articles
    • Pensions :


      Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion

      State Budget Solutions | by Joe Luppino-Esposito | November 12, 2014

      State Budget Solutions' latest research reveals that state public pension plans are underfunded by $4.7 trillion, up from $4.1 trillion in 2013. Overall, the combined plans' funded status has dipped three percentage points to 36%. Split among all Americans, the unfunded liability is over $15,000 per person. 


    • HEADLINES: California, Connecticut, Iowa, Kansas, Louisiana, Maryland, New Jersey, New York, North Carolina , Vermont, Virginia, Washington, Wisconsin

      Williams Report - August 19, 2014

      State Budget Solutions | by Bob Williams | August 19, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • View All New York articles
    • K-12 Education :


      Common Core Costs: Examining California's Five Largest School Districts

      State Budget Solutions | by Hannah Oh | September 16, 2014

      There seems to be an endless amount of controversy surrounding the Common Core. Vocal supporters and critics are not hard to find. This report suggests that there is another point of contention to consider: the costs of the technology upgrades required to implement Common Core.


      Lawmakers Jockey Over Budget Surpluses

      Stateline | by Elaine S. Povich | April 22, 2014

      According to NASBO, Kentucky and many other states have put the emphasis on restoring funding to education this year. A still incomplete survey of states showed that the vast majority are increasing elementary and secondary education funding, along with transportation and infrastructure.

    • View All New York articles
    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.