FOOTNOTES
[1] In the past three years, the State's general fund cash surplus was larger than projected in the Executive Budget. This may happen again. Current-year spending estimates were reduced between January 27 and February 12, and may prove lower by the fiscal year-end. Furthermore, receipts may increase beyond the current estimates.
[2] Andrew S. Rein, A Baseline Budget for the State of New York Fiscal Year 2000 (NY: Citizens Budget Commission, December 1998).
[3] Reestimates of current year spending account for $247 million and estimates for fiscal year 2000 account for $102 million. The fiscal year 2000 figure includes some spending increases proposed in the Executive Budget; however, the available data are not sufficient to specify the amounts.
[4] This is facilitated by a $250 million deposit to the debt reduction reserve fund, which was created in 1998.
[5] This is on a cash basis of accounting and includes spending for the STAR program, which the budget includes in the special revenue funds.
[6] This encompasses all State funds in order to include the Lottery which is contained outside the general fund in a special revenue fund.
[7] This is based on the general fund, so that tuition and fees are not included.
[8] State of New York, Executive Chamber, "Governor: Tentative Agreement Reached Between State, CSEA," press release, Wednesday, February 17, 1999.
[9] New York State Department of Taxation and Finance, Office of Tax Policy Analysis, Summary of 1998-99 Tax provisions, August 1998; State of New York, Office of the State Comptroller, Office of Fiscal Research and Policy Analysis, The 1997-98 Budget: Fiscal Review and Analysis, September 1997, 1998-99 Budget Analysis: Review of the Enacted Budget, July 23, 1998.
[10] The building aid enhancement, education technology, and textbook aid are preserved.
[11] This assumes that the $100 million collective bargaining reserve remains unspent. If these funds are used, the deficit would increase a commensurate amount.
[12] For example, despite the $1.6 billion GAAP surplus in fiscal year 1998, the general fund liability to local school districts increased $281 million.
[13] The settlement reached with major tobacco companies and 46 states would provide New York State and its localities $25 billion spread over 25 years. New York State likely will receive $12.8 billion. There is a possibility that this could change due to disagreements about the funds' distribution within New York State and its localities and, possibly, with the federal government.
[14] Richard Delaney, Budget 2000 Project: Public Education (NY: Citizens Budget Commission, December 1996) and Charles Brecher, Budget 2000 Project: Final Report (NY: Citizens Budget Commission, December 1996).
[15] This includes Medicaid funding for mental hygiene programs.
[16] See Charles Brecher and Sheila Spiezio, Budget 2000 Project: Social Welfare Spending (NY: Citizens Budget Commission, December 1996).
[17] The proposed fiscal year 2000 general fund transfer for capital projects is consistent with recent practice. The $250 million deposit in the debt reduction reserve fund to be spent in fiscal year 2001 represents additional pay-as-you-go resources.
[18] See Charles Brecher, Budget 2000 Project: Tax Policy (NY: Citizens Budget Commission, December 1996).
[19] Charles Brecher, Budget 2000 Project: Final Report (NY: Citizens Budget Commission, December 1996), p. 19.
[20] This position was most recently reiterated in Charles Brecher and Dean M. Mead, Budget 2000 Project: Capital Investment and Debt Service (NY: Citizens Budget Commission, December 1996).
[21] The Division of the Budget was unable to provide data on projected changes in workforce of the Judiciary.
[22] See Dean Michael Mead and Andrew S. Rein, Budget 2000 Project: Restructuring Government Services (NY: Citizens Budget Commission, December 1996).
[23] This figure is the total of prior year school aid recorded in the general fund and the general long-term obligations account group as of March 31, 1998, reported in Office of the State Comptroller, 1998 Comprehensive Annual Financial Report, For Fiscal Year Ended March 31, 1998.
[24] Richard Delaney, Budget 2000 Project: Public Education (NY: Citizens Budget Commission, December 1996), pp. 34-40, and Charles Brecher, Budget 2000 Project: Final Report (NY: Citizens Budget Commission, December 1996), pp. 11-12.
[25] State Education Department, The State of Learning (NY: State Education Department, April 1998).
[26] Richard Delaney, op. cit., p.34.
[27] Ibid, pp. 39-40.
[28] New York State Division of the Budget, Education Unit, Description of 1999-00 New York State Executive Budget Recommendations for Elementary and Secondary Education, January 27,1999, and State of New York, "Governor Announces $115 Million Early Grade Literacy Program," press release, February 11, 1999. This includes formula, grant and other aids. Inflation increase provided by Data Resources, Incorporated.
[29] This assumes 1) annual baseline increases in the standard aid stream of 3 percent between school years 1999-2000 and 2001-2002, 2) the Big 5's share of the standard aid streams will stay at 41.1 percent, and 3) the Big 5 will receive 30.1 percent of the total STAR funds. The allocation of STAR funds is based on estimates from the Division of the Budget.
[30] For an analysis of the State's debt issuance practices see Cynthia B. Green, Guidelines for Debt Reform in New York State (NY: Citizens Budget Commission, January 1994).
[31] Moody's Investors Service, "New York State Proposed Fiscal 1999-2000 Budget," special comment, February 18, 1999, and "Moody's Municipal Credit Report," February 11, 1997; Standard and Poor's, "Standard and Poor's today raised New York State's bond Rating to ÔA' from ÔA-'," August 27, 1997.
[32] State of New York, Office of the State Comptroller, Measuring the Cost of New York's Financial Practices: The Value of a Credit Rating Upgrade, June 25, 1997.
[33] See Charles Brecher, Budget 2000 Project: Tax Policy (NY: Citizens Budget Commission, December 1996).
[34] Data from Bureau of the Census, http://www.census.gov/govs/estimate/95stlny.txt and http://www.census.gov/govs/estimate/95stlus.txt, February 23, 1999.
[35] Ibid., p. 15.
[36] New York State Department of Taxation and Finance, Summary of 1998-99 Tax Provisions, August 1998.
[37] See Charles Brecher, Budget 2000 Project: Tax Policy (NY: Citizens Budget Commission, December 1996), p. 20. Value is based on fiscal year 1995 impact.
[38] New York State Department of Taxation and Finance, Summary of 1998-99 Tax Provisions, August 1998.
[39] See Charles Brecher, Budget 2000 Project: Tax Policy (NY: Citizens Budget Commission, December 1996).
[40] New York City Independent Budget Office, Would Clothing Sales Tax Cuts Pay for Themselves? 1997; and Thomas Conoscenti and Associates, Inc., Who Benefits? prepared for the New York State Association of Counties and New York State County Executives Association, May 1997. Who Benefits? includes an alternative scenario in which the economic stimulus would offset 33 percent of the revenue loss.
[41] New York State Department of Taxation and Finance, Office of Tax Policy Analysis, The Temporary Clothing Exemption: Analysis of the Effects of the Exemption on Clothing Sales in New York State, November 1997.
[42] Ibid, p. 22.