Gov. Andrew Cuomo has missed the first deadlines of a state law aimed at ensuring the passage of an on-time budget and ending New York’s notorious history of late budgets hashed out behind closed doors with little public review.

No new target dates have been set for the midyear financial plan update for the current fiscal year, which was due Oct. 31, or for the projected revenues for the 2012-13 fiscal year, which were due by Saturday.

It’s the first time a governor has missed beginning of the “quick start” process since it was enacted in 2007. The law overhauling the state budget process was intended to end decades of late spending plans rushed to approval with little public scrutiny, yet filled with tax and fee increases and funding for schools and other programs later criticized by advocates. The deadline was met even during the tumultuous years of Gov. David Paterson, as the Legislature repeatedly returned to Albany to address deficits as the recession started to slam New York.

“Over the last decade there has been a steady improvement of disclosure and transparency and this is a back tracking,” said E.J. McMahon of the fiscally conservative Manhattan Institute. “I can only speculate on the purpose that is being served by it. They certainly have all the information they need to put it out. They know plenty.”

Cuomo, who has been on the road for much of the past week endorsing local Democratic candidates, has said the volatility on Wall Street and in Europe has hindered accurate projections.

On Wednesday, the Assembly’s Democratic majority said it doesn’t plan to convene its economic advisers until later this month, which would further delay the budget process. The Senate’s Democratic minority released its quick-start report early, on Monday, projecting a surprising $3 billion deficit for the 2012-13 fiscal year and a current shortfall of $250 million….

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