DiNapoli Preparing Analysis of Cuomo Budget
The New York State Comptroller’s Office is completing a detailed review of Governor Cuomo’s budget proposal.
Thomas DiNapoli says the analysis hasn’t been finalized but it should be ready for release in a few days.
Speaking on WNBF Radio’s Binghamton Now program, DiNapoli said there’s concern about the underlying assumptions regarding revenue expectations.
The comptroller said with the slow pace of the economic recovery, the state could continue to fall short of expected income tax collections.
DiNapoli also said it’s important to consider the impact federal budget cuts will have on New York, particularly given the debate in Washington regarding sequestration.
There’s the possibility the state could lose hundreds of millions of dollars in revenue as a result of actions by the federal government.
DiNapoli said his office’s review also will look closely at any items in the proposed budget that essentially are a one-time revenue source. He said those so-called “one-shots” can wind up causing trouble because they don’t address long-term issues.
The comptroller said Cuomo has been right to stress the importance of having on-time budgets.
Legislative leaders have indicated they expect to have a final spending plan approved several days before the April 1 start of the fiscal year.