Financial Plans & Cash Reports

FPI: August State Cash Receipts Remain Steady for Fourth Straight Month

FOR IMMEDIATE RELEASE: September 18, 2023 Media Contact: press@fiscalpolicy.org June Cash Receipts Continue to Stabilize Following April Volatility August State funds receipts 7.4% above projections and 11.7% above 2022 levels ALBANY, NY |— The State Comptroller released its August Cash Report Friday, showing that August tax receipts came in over projections and over August 2022 levels: August 2023 receipts $8.31 billion August 2023 projections: $7.74 billion August 2022 receipts: $7.44 billion Following the [...]

2023-09-18T11:28:33-04:00September 18th, 2023|Financial Plans & Cash Reports, Press Releases|
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July Cash Receipts Remain Steady for Third Straight Month

For Immediate Release: August 16, 2023 Media Contact: press@fiscalpolicy.org July Cash Receipts Remain Steady for Third Straight Month "Three months of strong tax receipts confirm State economy remains robust & align with improving economic forecasts" ALBANY, NY | August 16, 2023 — The State Comptroller released its July Cash Report today, showing that July tax receipts came in over projections and over July 2022 levels: July 2023 receipts: $7.75 billion July 2023 projections: $6.87 [...]

2023-09-06T13:41:36-04:00August 16th, 2023|Financial Plans & Cash Reports, Press Releases|
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June Cash Receipts Continue to Stabilize Following April Volatility

The New York State Comptroller's June cash basis report shows that tax receipts for the month of June have stabilized after a shortfall in April. The stable June receipts confirm that New York’s tax base and economy remain strong, and that shortfalls in April reflected weaker-than-expected capital gains in tax year 2022 rather than an imminent downturn.

2023-09-06T13:44:02-04:00July 14th, 2023|Featured on Home, Financial Plans & Cash Reports, Press Releases|
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Fiscal Year 2024 Enacted Budget Financial Plan Analysis

New outyear budget gaps in the fiscal year 2024 Enacted Budget Financial Plan reflect heightened pessimism about the state’s economic trajectory by the State’s Division of Budget (DOB). While all economic projections are highly uncertain, the State is well-equipped to weather economic turbulence if these projections do materialize.

2023-09-06T13:44:51-04:00July 3rd, 2023|Featured on Home, Financial Plans & Cash Reports, Must Read, State Budget|
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May Cash Receipts Begin to Stabilize Following April Volatility

Following the release of the State Comptroller's May Cash Report yesterday, Fiscal Policy Institute Executive Director Nathan Gusdorf today released the following statements: "The New York State Comptroller's May cash basis report shows that total tax receipts for fiscal year 2024 to date are 3.4 percent over the projections in the Enacted Budget financial plan, with Personal Income Tax receipts to date exceeding such projections by 5.5 percent."

2023-09-06T13:48:16-04:00June 16th, 2023|Blog, Featured on Home, Financial Plans & Cash Reports, Press Releases|
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Personal Income Tax Revenue Exceeds Projections in Mid-Year Financial Plan

In its Mid-Year Financial Plan Update, the New York State Division of the Budget (DOB) reported that tax revenues continue to exceed previous projections. Personal Income Tax (PIT) receipts continue to outperform expectations — bringing in $48.95 billion — nearly $2 billion more than projected in the enacted budget financial plan and $500 million more than projected in the first quarterly update to the financial plan. Through the first half of the fiscal year, PIT receipts exceeded enacted and first quarter projections by 17 percent and 8 percent, respectively.

2023-09-08T10:28:45-04:00November 30th, 2022|Economic Outlook, Financial Plans & Cash Reports|
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