State budget report: $4.6 billion gap by 2015
Wednesday, August 03, 2011 - 12:53 PM
Despite a spike in tax collections, the governor's budget office today released a report that took the wind out of the sails of anyone hoping for an improvement in the state's fiscal situation.
"Positive operating results through June 2011 compared the Enacted Budget forecast are
believed to be timing-related and do not provide a basis for revising the annual estimates of receipts or disbursements at this time," the report said.
The good news is that things aren't getting any worse. The reports says budget projections remain on track, we have $2.6 billion more in the bank than this time last year, and our operating budget is nearly $2 billion better off than expected.
In the coming weeks the state's two biggest labor unions--Public Employee Federation and Civil Service Employees Association--that represent 60 percent of the state's workforce, are set to vote on contracts that are a big portion of the $450 million in savings that are being counted.
2011-12FP_JulyUpdate
More in:
For show archives, please visit The Capitol Bureau's website here.
About The Empire
Everything you need to know about New York politics and governance. We aim for a ground-up approach to politics, reverse engineered to make the effect just as important as the players and the game they play. From the Long Island to The Thousand Islands, New York City Hall to the Capitol Building, The Empire's got you covered.
Feeds
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.