To help states cope with recessions one mechanism that is often suggested is a rainy day fund. Although New York has a rainy day fund (in fact, it has two), the funds have not been used in the latest recession. This report explores the reasons why New York has not developed an effective rainy day fund and presents four guidelines for how the State can create a more useful rainy day fund.
CBC testifies before the NYC Council Finance Committee on the Preliminary Budget and financial plan for fiscal years 2006-2010. CBC includes suggestions on the appropriate use of surplus funds, moving forward with the formation of the Health Insurance Trust fund and ways to curb spending growth.
This letter conveys the CBC's recommendations for legislative action on the fiscal year 1998-1999 Executive Budget. While the CBC endorses seven of the Governor's proposals, the CBC also urges the State Legislature to make four changes to the Executive Budget.
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