New York State ended fiscal 2010 in balance only by delaying $2.9 billion of payments, Comptroller Thomas DiNapoli reported last week. The state could run out of money by June as a result of pushing those payments into the new fiscal year that began on April 1, he said.
“The state’s finances are very shaky,” DiNapoli said in a press release. “Big bills are piling up, and there may not be enough cash to cover them. We need the governor and the Legislature to agree on a realistic budget that aligns revenue with spending and isn’t a replay of last year’s buy-time budget.”