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CityAndStateNY.com
January 24, 2022
THE NEW YORK EXECUTIVE BUDGET BY THE NUMBERS Hochul’s executive budget included record spending on education and the largest capital plan to improve infrastructure in the state's history. Thanks to an influx of federal dollars, higher than expected tax receipts and a resurgent stock market, Hochul said her budget is balanced not just for the coming year, but for
$31.2 B
The record high state funding for schools, slightly more than the $29.5 billion approved as part of last year’s budget.
15%
the next four years as well. And she pledged that the state would not rely on one-time federal aid for recurring spending initiatives unless there was a reliable state funding stream in the future. The budget poses Hochul’s first real trial as governor and the first test of the cooperative
GOV. KATHY HOCHUL PROPOSED THE LARGEST STATE SPENDING PLAN IN HISTORY IN HER FIRST BUDGET PROPOSAL. By Rebecca C. Lewis governing style she has touted since taking office. She’ll have to work with lawmakers in the state Legislature to iron out the details and find compromise on areas of disagreement before the April 1 deadline. Here are some of the key numbers Hochul has proposed as the budget dance begins.
4
8%
The percentage increase to school funding for Foundation Aid, a formula that takes into account inequity in quality education access and was not fully funded until last year.
The number of years that Hochul has proposed extending mayoral control of New York City schools.
3
The number of additional casino licenses the state could potentially award.
$1 B
The funding dedicated to Hochul’s “war on potholes.”
The percent of the state’s operating budget that it will dedicate to reserves for an economic downturn.
$0
The size of predicted budget shortfalls through fiscal year 2027.
$2 B
3.1%
The amount of money dedicated to unspecified pandemic recovery efforts. That could even mean the Excluded Workers Fund that Hochul did not address in her budget, per Budget Director Robert Mujica.
The percent of spending growth compared to last year, not adhering to former Gov. Andrew Cuomo’s 2% cap.
$216.3 B
The total spending for fiscal year 2022-2023 according to the new executive budget. That’s compared to the $212 billion budget approved last year and the $192.9 billion Cuomo proposed in his final executive budget.
