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Capitol Watch: Comptroller issues warning on state finances

(CNYCentral file photo)

ALBANY, N.Y. (AP) -- In New York state government news, Comptroller Thomas DiNapoli is sounding an alarm about state finances.

The Democrat released a report last week on the current state budget and financial plan that showed state spending is on track to outpace revenues.

DiNapoli, the state's top financial official, warned that could put New York in financial peril if the economy turns or the federal government cuts funding.

DiNapoli also noted that lawmakers and Gov. Andrew Cuomo haven't added significant amounts to the state's rainy day fund.

Meanwhile, the state Senate is turning its attention to state efforts to help minority and women-owned businesses. The chamber has scheduled a public hearing July 17 in Watertown to examine ways to improve the program.

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