Finance

DiNapoli Urges Caution As Budget Progresses

March 11, 2013
By Stephanie West

The amendments to the Executive Budget for state fiscal year (SFY) 2013-14 curtailed some risks contained in the originally proposed budget, but the impact from federal sequester cuts represent a risk to the Financial Plan according to a report released by Comptroller Thomas P. DiNapoli.

“Uncertainty in the economy and the effects of federal sequestration cuts to the state budget pose risks that we need to recognize appropriately.” DiNapoli said. “Discussions with the federal government over Medicaid reimbursement add to the uncertainty.”
 
DiNapoli’s report analyzed the amendments to the Executive Budget and Financial Plan, including actions that would address the anticipated loss of $1.1 billion in federal revenue associated with Medicaid financing for the developmentally disabled. The amendments propose $500 million in state Medicaid savings actions and changes intended to generate $600 million in new federal Medicaid funding.

March 11, 2013

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