Monday, October 30, 2006
New York Surplus Grows
This news may help New York Governor George Pataki with fiscal conservatives. Reports out of New York report that the state " is on track for an over $1 billion surplus for the 2006-2007 fiscal year. The mid-year report is due out Monday. It points to better than expected economic growth and lower spending levels for the surplus. The extra money will head to several funds, including the state's Rainy Day Reserve fund.The surplus also gives state reserves a boost. The Governor's office reports over $3 billion in total reserves."