A report from State Comptroller Thomas DiNapoli says New York may run short of cash as soon as next month.
That’s because of billions coming due in state aid payments for health and education, delayed state tax revenueds because of the coronavirus crisis, and additional spending needed to fight the pandemic.
DiNapoli says the state actually has about $2.4 billion more in cash on hand this month than projected, but that will change radically in the coming weeks. DiNapoli says New York will have to manage its funds carefully, and along with othr states, needs the federal government to step in and cover the coronavirus spending.