Revenues for the first five months of fiscal 2011-12 are $3.3 billion higher than last year, but remain $75.5 million below projections for an updated financial plan that’s operating on a “razor-thin margin,” according to New York Comptroller Tom DiNapoli’s cash report for August.

The state’s general fund ended August with a balance of $1.6 billion, $700,000 lower than projected in the financial plan that was updated Aug. 2.

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