Last Tuesday, Gov. Cuomo, Senate Majority Leader Flanagan and Assembly Speaker Heastie reached agreement on a revenue number for the state’s 2016-17 fiscal year. The Governor and legislative leaders agreed that there is $225 million more in revenue than original predicted by the Division of Budget.
Reaching an agreement on revenue numbers (and thus how much the state has to spend in the upcoming fiscal year) is a key step in the budget-making process, and an indication that the state’s 2016-17 budget will likely be enacted on time. The new state fiscal year begins on April 1.