State's economy remains fragile, but upside projected
In a report issued this week, State Comptroller Thomas DiNapoli identified some positive elements in the state's fragile economic recovery. His analysis of the Executive Budget shows that better than expected personal income tax collections as well as additional federal aid are leading the Division of Budget to anticipate a budget surplus for the current and next fiscal year. Plans for the surplus include prepaying debt service payments for projected budget shortfalls in the future.
State funding for school districts will benefit from federal aid, but fiscal challenges loom once that money is spent.