NEW YORK (CBSNewYork) – New York Gov. Andrew Cuomo is set to lay out his budget proposal on Tuesday with the state’s financial watchdog keeping an eye on the figures.
State Comptroller Thomas DiNapoli said revenues are falling short of projections, so he anticipates a lean budget from Cuomo.
“A very tight budget presentation, we do own a gap that has to be dealt with,” DiNapoli told WCBS 880’s Jim Smith.
Working estimates suggest a budget gap of $1 billion, not including any fallout from superstorm Sandy, according to DiNapoli.
“Numbers that we’ve seen thus far in terms of tax collections and revenue coming into the state, we really haven’t seen any dramatic change that could be attributed to the hurricane. That might be a little counter to what the expectation was,” said the comptroller.
“Those projections are going to be updated as part of the governor’s budget presentation, so we’ll wait and see whether or not those numbers change,” DiNapoli added.
Cuomo is due to deliver his budget address at 2 p.m. Tuesday. The legislature has until the end of March to either approve the plan or submit changes.
The governor has dealt with deeper economic woes during his tenure in office. In 2011, Cuomo worked to close a $10 billion budget shortfall.
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