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Forums and Events - Video of Robert L. Megna, November 18, 2010

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Robert L. Megna

Director, New York State Budget

The Budget Outlook for 2011

November 18, 2010

New York State Budget Director Robert L. Megna outlined the state’s current fiscal position, the revenue and expenditure outlook, and the budgetary challenges facing the new governor and the Legislature in the coming year. The new state administration will face a budget deficit of $9 billion-$10 billion in fiscal year 2011-2012 and that is estimated to grow to $17 billion by fiscal year 2013-2014, Megna said. Because Governor-elect Andrew Cuomo has already said that he does not favor tax increases, difficult choices will need to be made to address the budget gaps through cuts, according to the budget director. “We are in the position now where the state is going to have to decide that there are certain things that it’s not going to be able to do anymore the way it’s been doing them in the past,” he concluded. “The numbers just don’t allow it.”

Mr. Megna's slide presentation
Video of Question-and-Answer session