Hevesi Releases April Cash Report
May 17, 2005
State Comptroller Alan G. Hevesi has released the April cash report representing the first month of the 2005-06 fiscal year.

General Fund receipts (including transfers) were $1.2 billion or 20.3 percent ahead of last year. General Fund spending (including transfers) was $395.3 million or 12.4 percent lower than in April 2004.

General Fund Receipts and Expenditures

General Fund personal income tax receipts prior to transfers to dedicated funds were up approximately $1.2 billion or 22.9 percent from last year. This increase is driven mainly by estimated payments, which includes payments accompanying requests for extensions on 2004 returns and estimated payments on 2005 liability. Total estimated payments were $976.3 million higher in April 2005 than in April 2004, a 47.6 percent increase.

Consumption and use tax receipts decreased 6.1 percent or $42.9 million from last April. Business tax receipts rose 46.7 percent, or $69.1 million, from last year. The primary component of the business tax receipts was from the corporate franchise tax.

On the disbursement side, General Fund spending including transfers was lower by 12.4 percent or $395.3 million. Local assistance payments decreased $298.9 million, or 18.4 percent. As a result of April 2004 having one additional payroll period than April 2005, General State Charges decreased $18.2 million, or 4.3 percent, and State Operations spending decreased 12.1 percent or $101.3 million. General Fund transfers to other funds increased $23.1 million or 7.5 percent in April 2005.

Total Governmental Receipts and Expenditures

Total governmental receipts for the current fiscal year increased $1.2 billion or 12.9 percent from the first month of the 2004-05 fiscal year. As was the case with the General Fund described above, personal income tax receipts grew significantly, an increase of $1.1 billion or 22.5 percent over April 2004.

Consumption and use taxes rose $14.8 million or 1.4 percent, while business tax revenues increased by $86.2 million or 35.0 percent.

Other taxes increased a net $37.8 million or 29.3 percent. This reflects a reduction in estate and gift tax collections of $18.3 million, offset by an increase in real estate transfer tax collections of $56.4 million. Miscellaneous receipts rose $99.4 million or 10.5 percent, and federal grants decreased, $67.9 million or 2.8 percent.

Total governmental funds spending decreased $1.2 billion, or 17.7 percent. This reflects a $1.1 billion decrease in local assistance spending. Social service grants, the largest component of local assistance spending, were lower in April 2005 by $867.5 million, or 27.0 percent. This reflects two factors: the higher expenditures of $170 million in April 2004 because of a delayed Medicaid payment from March 2004 (with no corresponding delayed payment in April 2005) and the expiration of the temporary increase in the Federal Medicaid Assistance Percentage (FMAP) from 50 percent to 52.9 percent that was in effect through June 30, 2004.

Departmental operations decreased $126.5 million, or 9.5 percent, as a result of the additional payroll cycle in April 2004 as compared to April 2005. Spending for capital projects increased $9.6 million, or 4.4 percent, and debt service payments increased $10.4 million or 3.6 percent.
find more info here: http://www.osc.state.ny.us/press/rel...y05/051705.htm

Comptroller’s Monthly Report On State Funds Cash Basis of Accounting
http://www.osc.state.ny.us/finance/f...ly/april05.pdf