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.


More in:

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.


"The Capitol Pressroom" with Susan Arbetter at 11 am

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.

Check out WNYC's 2013 Mayor Tracker--the one-stop shop for info about the candidates, issues and trends in the upcoming New York City mayoral election.


Our Reporters


Supported by