New York State nearly ran out of cash in 2009,

[lauerz]

Controller Thomas DiNapoli sez

BY Glenn Blain
DAILY NEWS ALBANY BUREAU

Friday, January 1st 2010, 4:00 AM

Read more: http://www.nydailynews.com/news/2010/01/01/2010-01-01_what_part_of_broke_dont_you_pols_get_says_paterson.html#ixzz0bNWp9jQ4
 

ALBANY - New York State came perilously close to ending 2009 in the red, Gov. Paterson said Thursday.

For the first time ever, the state's main account - the general fund - ended the year with a deficit, the state controller reported.

Officials covered the $600 million gap with reserve funds, leaving the state with just $883.7 million in cash to start the new year, said Controller Thomas DiNapoli.

"Our state is spending beyond its means," Paterson said. "Our state is running out of money."

 

Paterson said the dire numbers justified his decision to withhold $750 million in payments to school districts and other entities this month.

If Paterson had not withheld the money, DiNapoli's figures indicate the state might have run out of cash two days ago.

"I will not let the state run out of money so long as I can stand on two feet," Paterson said.

Education groups, including the state's powerful teachers union, sued the state last month, saying the governor had no authority to withhold the payments. A hearing is set for Jan. 20.

Paterson has promised to repay school districts this month if the state's revenues rebound.

Paterson Thursday blasted the Legislature for failing to close the entire budget gap in December. He also warned lawmakers to be prepared for a difficult budget process. The state must adopt its 2010-2011 budget by April 1.

"This Legislature is going to have to come back and this time address the problems of the people of this state and not their own political problems. They cannot shirk their responsibility time and time again as they have over the past few months," Paterson said.

 

Comments

комментируют местные жители:

[lauerz.livejournal.com]

Paterson cannot just point the blame. It is in all directions. The govt had to have known this was coming and why is it the public knows now that we are so screwed up. The govt failed overall, and again at all levels to live within it's means and stick to budgets. They spend like children with checkbooks. How can NYS fall into the red if there are processes, budgets, accountants, and the Controller - DiNapoli watching over everything? Government all over this nation is failing the people, and it exists at all levels. Not sure how much longer "we" the people will stand for all of this. When will we see a rise up from the people? Federal Government is just as horrible! And all branches seem to be grossly disconnected from reality and especially from the people of our nation. We need to stop all this abuse. Funny how every time the govt. messes things up, there is no accountability, and the people have to pick up the pieces. Impeachments should be at an all time high for fai

Read more: http://www.nydailynews.com/news/2010/01/01/2010-01-01_what_part_of_broke_dont_you_pols_get_says_paterson.html#ixzz0bNXjwbPe