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New York's Cash Position Is Strong


New York's Cash Position Is Strong


nys120State tax collections through the first five months of the state fiscal year were $26.9 billion,  $119.3 million higher than projected in the latest Financial Plan update but 1.3 percent less than the same period last year, according to the August cash report released today by New York State Comptroller Thomas P. DiNapoli . DiNapoli also noted that state coffers have been bolstered by nearly $3.5 billion from financial settlements since the budget was enacted, approximately $3.2 billion more than initially anticipated.

“The current state fiscal year is nearly half over, and the state’s cash position is strong,” DiNapoli said. “Settlements have already brought the state more than $3 billion , and more is on the way. The level of tax receipts is important for purposes of ongoing budget balance, and we are seeing positive numbers there as well.”

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