State revenues down again
Thursday, June 18th, 2009 at 9:16 am by Robert Lowry
State Comptroller Thomas DiNapoli issued another of his monthly “cash reports” for the state, this time for May, the second month of the the state’s fiscal year. As in April, receipts fell short of the levels projected for the state budget enacted earlier this spring.
Total receipts for April were $347.9 million below projections. Expenditures also were below projections, by $250.1 million.
The Albany Times Union quoted reactions from Governor Paterson’s Budget Division:
The Division of the Budget says the spending is also down below plan and June revenues could jump. It’s too early to panic, DOB says. “On June 15, quarterly estimated tax payments were due from businesses and certain high-income individuals which may offer a clearer picture about the condition of the economy and the state budget,” said DOB spokesman Jeffrey Gordon.
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