New York’s state budget gap for 2011-12 — the first year of the next gubernatorial administration — is now projected at nearly $8.2 billion, according to the 2010-11 Enacted Budget Report released today by Governor Paterson’s Division of the Budget (DOB). That’s 52 percent larger than the $5.4 billion gap projected just six months ago, in DOB’s previous financial plan update. It’s also nearly $700 million larger than the preliminary budget gap estimate attributed to Paterson’s budget director just a month ago.
Projected gaps over the next three years now total $37.2 billion. That’s up more than 30 percent from the $28.4 billion three-year cumulative gap projected in the February financial plan, which was issued in conjunction with the Governor’s 21-day amendments to the Executive Budget.
In short, New York’s budget hole got deeper during the protracted budget process that ended Aug. 3. And it could grow deeper still by the time the governor elected this coming November presents the 2011-12 Executive Budget next Feb. 1.
The following chart contrasts the February gap projections with those in the latest financial plan update.
You may also like
The Attorney General’s MFCU SNAFU
Attorney General Letitia James' latest fight with the Trump administration focuses on New York's Medicaid Fraud Control Unit, a federally funded agency housed in James' office.
On T Read More
Healthcare Revelations in the Enacted Budget Financial Plan
The state financial plan published on June 10 disclosed key information about healthcare revenue and spending that lawmakers had not made public when approving the annual budget two weeks before.
Read More
Federal Suit Traces Medicaid Fraud to the Top of NYS Government
The Trump administration's latest salvo against Medicaid fraud takes aim at a different kind of target – two high-ranking New York officials along with a major state contractor.
A Read More
It Is Time to Rethink the Regional Greenhouse Gas Initiative
Before budget negotiations, Gov. Hochul warned that unless New York changes its climate plans, New Yorkers could face a $2.26-per-gallon increase in gasoline prices. The reason is the so-called “cap-and-invest” scheme, under which energy companies wou Read More
Healthcare Highlights in the New State Budget
Governor Hochul's focus on affordability seems to have skipped over the healthcare portions of the new state budget.
The deal finalized May 27 Read More
Lawmakers Consider Hiking Fees for Filling Prescriptions
UPDATE: The proposal discussed below passed the Assembly Friday evening by an unofficial vote of 133-0. Having previously been approved by the Senate, the bill will head to Governor Hochul's desk for her signature or ve Read More
Lack of Common Sense on Energy in the Budget
Lack of Common Sense on Energy in the Budget
Anyone hoping the governor would make even modest, common-sense changes to New York’s disastrous energy policies will be disappointed. The energy portion of the budget is out, and the nons Read More
Budget Deal Reportedly Earmarks $100M for 1199 and Extends MCO Tax
As Governor Hochul and legislative leaders rush to finalize the overdue state budget, outlines of some healthcare-related deals have begun to emerge from the closed-door negotiations.
Read More