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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

November 23, 2015, Contact: Press Office (518) 474-4015

DiNapoli Releases October State Cash Report

Total state receipts through the first seven months of the fiscal year totaled just under $85 billion, $181.8 million lower than the Division of the Budget’s (DOB) latest projections but $1.9 billion higher than April projections, according to the monthly state cash report issued today by State Comptroller Thomas P. DiNapoli. The General Fund ended October with a balance of $11.4 billion, largely due to financial settlements.

“The state’s short-term fiscal position is strong,” DiNapoli said. “Still, it’s important to keep in mind that economic conditions and the revenue outlook may change.”

State tax collections through October totaled $42.3 billion and were just under $4 billion or 10.3 percent higher than the same period last year. Year-to-date tax collections were $5.4 million over the latest projections (released Nov. 5) and nearly $1.7 billion over initial projections from the Enacted Budget.

Other findings from the October cash report include:

  • Personal income tax receipts through Oct. 31 were $26.7 billion, an increase of $3.3 billion or 14.2 percent from last year. Consumption and use tax collections totaled $9.3 billion through the first seven months, an increase of 2.3 percent or $204.9 million from the previous year.
  • Business taxes totaled $3.9 billion through Oct. 31 and were 1.7 percent or $68.5 million lower than last year. Other taxes, led by collections in estate and real estate transfer taxes, totaled $2.4 billion and were $504.8 million or 26 percent higher than last year for the same period.
  • All Funds receipts totaled $85 billion through October, which was 3.4 percent or $2.8 billion higher than last year. The majority of this increase was from tax collections. Federal receipts totaling $27.1 billion were $539.3 million over last year
  • All Funds spending of just over $79.6 billion through the first seven months increased $2.7 billion or 3.4 percent from last year but was $1.7 billion below initial projections. Spending for local assistance programs totaled $57.7 billion and was 4.6 percent, or $2.5 billion, higher than last year. Departmental operations totaled $11.5 billion through Oct. 31, which was $32.6 million lower than last year. Debt service totaled $1.7 billion and was $358.6 million lower than last year. Capital projects spending increased by 8.9 percent or $281 million.

The October cash report can be found here: or at http://www.osc.state.ny.us/finance/cbr.htm

DiNapoli's office issues a state cash report every month identifying actual 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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