NY Comptroller Says Budget Plan Holds Spending Down
The New York comptroller says Governor Andrew Cuomo's budget plan for the coming year holds spending down while giving his administration new latitude on how to use billions of dollars.
Comptroller Thomas DiNapoli said the state's general fund is expected to end this year with a $7.8 billion balance.
He says the administration's budget proposal for the year starting April 1 "continues in this positive direction by boosting reserves, investing in infrastructure and easing the property tax burden."
Also, DiNapoli says a proposed new projects fund could get some of the nearly $5.7 billion in settlements with banks accused of inappropriate overseas trading. But money could be used for virtually any purpose including operational costs.
He notes the absence of estimates for state aid to individual pubic schools districts and less transparency and accountability in some areas.