{"id":298065,"date":"2026-07-16T20:58:09","date_gmt":"2026-07-16T20:58:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/298065\/"},"modified":"2026-07-16T20:58:09","modified_gmt":"2026-07-16T20:58:09","slug":"comptroller-n-y-spending-risks-financial-stability","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/298065\/","title":{"rendered":"Comptroller: N.Y. spending risks financial stability"},"content":{"rendered":"<p>New York state&#8217;s budget has ballooned to record highs and a <a href=\"https:\/\/www.osc.ny.gov\/files\/reports\/pdf\/enacted-budget-and-financial-plan-report-1.pdf?utm_medium=email&amp;utm_source=govdelivery\" rel=\"nofollow noopener\" target=\"_blank\">new report out from the state&#8217;s fiscal watchdog<\/a> says that comes with growing financial risks.<\/p>\n<p>According to a report released Wednesday by state Comptroller Tom DiNapoli, the $277 billion budget passed by lawmakers this spring shows spending is outpacing revenue, bringing risks to long-term financial stability.<\/p>\n<p>It shows spending continues to grow on programs like healthcare, education and childcare, but total reserves haven&#8217;t kept up pace.<\/p>\n<p>That&#8217;s compounded by federal cuts, so spending has been increased to keep New Yorkers on the services they need.<\/p>\n<p>\u201cThe state\u2019s finances remain highly exposed to federal actions and potential economic downturns,\u201d DiNapoli said in a statement. \u201cWhile state spending has increased to fund critical programs, most notably healthcare, education and childcare, total reserves have remained flat, which could put these investments at risk in the future. Major national and international developments risk affecting New York\u2019s economy, with downstream impacts on tax revenues and fiscal stability.\u201d<\/p>\n<p>DiNapoli\u2019s report also said that the budget has the state\u2019s reserves remaining flat at approximately $15 billion even as the budget grows.<\/p>\n","protected":false},"excerpt":{"rendered":"New York state&#8217;s budget has ballooned to record highs and a new report out from the state&#8217;s fiscal&hellip;\n","protected":false},"author":2,"featured_media":138991,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[109,3478,116,288,257,3365,270,9,24,11,10,49,51,50,12,112,87,27],"class_list":["post-298065","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-app-local-state-politics","tag-app-local-business","tag-app-ny-state-of-politics","tag-business","tag-central-ny","tag-economy","tag-luke-parsnow","tag-new-york","tag-new-york-city","tag-new-york-headlines","tag-new-york-news","tag-new-york-state","tag-new-york-state-headlines","tag-new-york-state-news","tag-news","tag-ny-state-of-politics","tag-politics","tag-top-stories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/298065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=298065"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/298065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/138991"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=298065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=298065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=298065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}