Message from the Comptroller
State Fiscal Year (SFY) 2020-21 will long be remembered for the disruption caused by the COVID-19 pandemic and for the resilience demonstrated by New Yorkers in responding to the multitude of challenges. The impact of the economic shutdown on the State’s financial plan was sudden and dramatic; ultimately, historic federal relief funding and higher-than-anticipated tax collections stabilized the State’s financial footing. This Financial Condition Report can help New Yorkers better understand the impacts of the COVID-19 pandemic, the ongoing risks and challenges, and opportunities for changes to improve the long-term outlook for State finances.
About this Report
This report provides citizens with an overview of the financial condition of New York State. It presents selected financial, economic and demographic information in an easy-to-understand format.