ALBANY — New York Comptroller Thomas DiNapoli says the state ended its first fiscal quarter in the red for only the second time in modern history.
Much of that $87 million negative balance reflects payments of school aid previously delayed from months when the state didn’t have enough cash to cover the costs.
The Democrat says Monday that although tax collections running better than a year ago reflect a healthier economy, bad fiscal news is still coming in. He says the state may not be able to cover its September payment to schools.
He’s urging passage of a state budget that was due April 1. Most of the plan is already passed, but a single revenue bill remains unfinished in the Democrat-led Senate.
The Legislature is expected to return to Albany soon.