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New York state budget (2008-2009)
| Note: This article was last updated in 2009. Click here for more recent information on state budgets and finances. |
The New York state budget is implemented annually for a fiscal term that runs from April 1 to March 31.[1][2][3]The state budget is an executive budget, meaning that the governor makes budget recommendations to the legislature.[1] Every February, the governor is required to create and submit a budget to the legislature that estimates the state's expected revenue and expenditures.[4][1]
Creating the budget
Every summer, the Division of the Budget (DOB) sends a call letter to state agencies that sets the governor’s priorities for the year, anticipated fiscal constraints, and a schedule for submitting budget requests.[5] The DOB is responsible for analyzing agencies' requests and aiding the governor in creating the final state budget.[5][1]
Agencies usually submit their budget requests to the DOB by early fall.[5] The DOB and State Comptroller must release a detailed estimate of anticipated income and expenses by November 5.[5] The DOB evaluates the budget requests in light of trends in income and spending, assesses the state’s economic situation and presents recommendations to the governor.[5]
By mid-January (or February 1 following a gubernatorial election year), the governor must submit his budget plan to the legislature along with related appropriation, revenue, and budget bills.[6] Along with the Executive Budget, the governor must submit the State’s Five-Year Financial Plan, Five-Year Capital Program and Financing Plan, and any financial information supporting the Executive Budget.[6] The legislature then analyzes the governor’s proposals, holds public hearings and works with the DOB in evaluating the proposed budget measures.[6] Both houses of the legislature must agree on the income and spending appropriations in the budget bill and submit the amended budget to the governor for his approval.[6] The budget is then sent to the governor for approval, and a final state budget is created for the upcoming fiscal year.[1]
In approving the final state budget, the governor may use a line-item veto to cancel out specific provisions without having to veto the bill in its entirety.[6] The state legislature can override the governor's veto only by a 2/3 vote by the members of each house.
Budget status, 2008-2009
When the new fiscal year began on April 1, 2009, the New York state budget faced a $14 billion gap between incoming revenue and anticipated spending projects.[7] In September, 2008, the DOB estimated that the deficit for the 2009-2010 term would reach $5.4 billion.[5][8][David Paterson|Governor David Paterson] offered his budget proposal one month prior to the deadline in December 2008; the overall budget was $121 billion.[9] Gov. Paterson's proposed $121 billion budget for the 2009-2010 term increased overall spending by $1.3 billion, or 1.1%.[9]
| Fiscal term | Projected deficit |
|---|---|
| 2008-2009 | $1.7 billion |
| 2009-2010 | $13.7 billion |
| 2010-2011 | $17.1 billion |
| 2011-2012 | $18.6 billion |
| Total four-year deficit: | $51.1 billion |
See also
Footnotes
- ↑ 1.0 1.1 1.2 1.3 1.4 Governor’s Office of Employee Relations, Executive Budget Process
- ↑ Division of the Budget, Agency Budget Preparation
- ↑ New York State, 2009-2010 Executive Budget – Briefing Book
- ↑ Fiscal Policy Institute, “Understanding and Evaluating the New York State Legislature’s proposed Budget Process constitutional amendments” by Frank J. Mauro
- ↑ 5.0 5.1 5.2 5.3 5.4 5.5 Division of the Budget, Division of the Budget Review
- ↑ 6.0 6.1 6.2 6.3 6.4 Division of the Budget, Legislative Action
- ↑ Star-Gazette, State Deficit Grows by $1.2 billion, February 11, 2009
- ↑ Division of the Budget, 2009-2010 Executive Budget Call Letter, September 5, 2008
- ↑ 9.0 9.1 New York State, Governor Paterson's Executive Budget Eliminates Largest Deficit in State History, Reigns in Spending, Press Release, December 16, 2008
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