hinman straubTO: New York State School Facilities Association

FROM: Hinman Straub Advisors, LLC

RE: 2018-2019 Enacted State Budget

DATE: April 1, 2018

On Friday, March 30, Governor Cuomo and the Legislature reached an agreement on a new state budget, just prior to the April 1 budget deadline. Legislators completed voting on budget legislation in the early morning hours of March 31.

The 2018-2019 state budget totals $168.3 billion, maintains a 2% spending cap for the eighth year, and eliminates a $4.4 billion projected deficit The plan increases Education Aid by $1 billion, includes several measures intended to counter adverse impacts on New York taxpayers from Federal tax reform and initiatives to combat sexual harassment in the workplace.

Significant provisions of the SFY 2018-2019 state budget include the following.