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State Comptroller Thomas DiNapoli
State Comptroller Thomas DiNapoli

DiNapoli: State budget "barely" balanced

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New York's Comptroller, Tom DiNapoli, says the state budget is still balanced-but just barely so. DiNapoli says the August cash report shows the state's financial plan is operating on a "razor thin margin." In Albany, Karen DeWitt has the details.

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Reported by

Karen DeWitt
NYS Capitol Correspondent

The Comptroller finds revenues are coming in at $3.3 billion dollars higher than last year, but he says those numbers are based on income earned in 2010, and he says he does not expect New Yorkers, especially those who work on Wall Street, to earn that much again this year, and pay as much in taxes.

And, DiNapoli says, even though there is more money coming in now than at this time last year, the revenues are still nearly $76 million dollars below what state budget makers thought they would get.

The Comptroller’s report does not address additional costs to the state incurred by clean up after storms Irene and Lee. Governor Cuomo’s budget director said recently that he thinks there is enough money existing in emergency funds to pay for the state’s share of disaster costs.

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