New York City's "fair share" of the state's $5 billion budget surplus is $2.2 billion, city Comptroller Scott Stringer said in an analysis.
Stringer's comments come in advance of Gov. Andrew Cuomo's State of the State speech, scheduled for 1:30 p.m. Wednesday in Albany.
Stringer's analysis also examined state funding trends to the city and quantified what he called "the dramatic decline" in state aid to the city between 2009 and 2014.
"New York City is the economic engine for the state, but in recent years we have been shortchanged by Albany to the tune of billions," Stringer said. "This year's budget is the opportunity to restore our fair share."
The city makes up 43.4% of the state's population and contributes a similar amount to the top two revenue sources for the state: 46% of its personal income tax revenue and 43% of the state's sales tax revenue. Based on these figures, Stringer said the city should receive at least $2.2 billion of the $5 billion state budget surplus.
The analysis also showed that the city lost out on an additional $2.8 billion in fiscal 2014 due to the decline in the share of its budget that state funds support. The historical average of the state's share of the city's budget over a quarter century has been 18.8%; according to Stringer, that share declined to 15%.
Had state revenue in the city's budget expanded at the same rate as the state operating funds budget from fiscal 2009 to 2014, it would have meant an additional $3.1 billion for the city in fiscal 2014.
"New York City has helped the state weather many an economic downturn in the past. Now that we've turned the corner, it is time to do what's fair," said Stringer. "When Albany invests in the city's infrastructure, education and essential services, it benefits all of New York."
