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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

February 22, 2016, Contact: Press Office (518) 474-4015

DiNapoli Releases January State Cash Report

New York state collected $126.6 billion in receipts from April through January, which was $582.3 million higher than the Division of the Budget’s (DOB) latest projections and $4.8 billion higher than initial projections, according to the monthly state cash report issued today by New York State Comptroller Thomas P. DiNapoli.

The state spent $117.3 billion through the first 10 months of the fiscal year, or $1.1 billion below initial projections and $628.5 million below the latest projections released with the Executive Budget in January.

“Tax collections continue to be higher than expected and spending is well below projections,” said DiNapoli. “There is rising uncertainty about economic conditions that we are watching closely, but for now our financial position remains strong.”

Year-to-date tax collections of $63.3 billion were $4.4 billion, or 7.5 percent, over last year for the same period. Tax receipts were $547.2 million over DOB’s January estimate and $1.9 billion over initial projections from the Enacted Budget Financial Plan, primarily due to higher than projected Personal Income Tax (PIT) collections. The General Fund ended January with a balance of $13.8 billion, which was nearly $1.6 billion higher than January projections and nearly $3.4 billion (33 percent) higher than last January 31. Much of this balance reflects monetary settlements totaling over $8 billion received since April 2014.

For a detailed breakdown, go to http://www.osc.state.ny.us/finance/cbr.htm

DiNapoli's office issues a state cash report every month identifying state revenues and spending from the prior month. The cash report focuses primarily on the General Fund and All Governmental Funds. The General Fund is the major operating fund of the state. All Governmental Funds includes General, Special Revenue, Debt Service and Capital Projects funds, as well as funds from the federal government. The report is now accessible in Excel and Adobe formats.

Since becoming Comptroller, DiNapoli has created several tools to allow the public to better track government spending, contracts and other fiscal issues. These are easily accessible on his transparency website called Open Book New York (www.openbooknewyork.com).

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