A report from the state comptroller finds local governments in New York are struggling financially. Around 10 percent are running deficits or suffering from cash flow problems, and there is no end in sight.
New York's fiscal watchdog wants lawmakers to give his office more power over economic development organizations that he says are being misused in some cases, by local governments in New York state. Comptroller Thomas DiNapoli has his eye on Local Development Corporations.
Local governments continue struggling in the wake of the recession. At a Local Government Leadership Institute meeting in Syracuse Wednesday, officials looked for answers to some of the problems they still face following the Wall Street meltdown.
The governor says he’s waiting for some uncertainties in the world markets to stabilize before updating the state’s financial picture, and has delayed releasing the state’s mid year budget report, which was due in late October.
Cuomo budget officials have said they are also waiting to count some tax collections delayed by the hurricanes. They’ve also post poned some scheduled budget hearings that have been part of an effort in recent years to jump start the budget process.