DiNapoli: FY27 budget's $18B spending jump outpaces revenue, with gaps up to $31.7B and debt heading toward $98.8B

Comptroller Tom DiNapoli's report on the enacted FY27 budget says the $277B plan grows spending 7% ($18.1B) while projected revenue rises just 1.1%, leaving cumulative out-year gaps of roughly $31.7B. Reserves stay flat near $15B, school aid and Medicaid drive the growth, and state debt is projected to climb 64% over five years, from $60.3B to $98.8B. DiNapoli warned the state's finances remain "highly exposed to federal actions and potential economic downturns" — an independent fiscal check on the budget Hochul is campaigning on.