- Associated Press - Monday, January 23, 2017

ALBANY, N.Y. (AP) - State tax collections through the first three quarters of the fiscal year are down.

State Comptroller Thomas DiNapoli says the decline was 2.2 percent, or around $1.2 billion. That’s $29.9 million lower than mid-year projections.

The comptroller says the timing of payments and the level of financial sector bonuses will influence whether current estimates are met in the final quarter of the fiscal year.

The comptroller’s report also shows that All Funds spending totaled just under $110 billion through December. That’s $5 billion higher than last year for the same period. Significant increases included spending for Medicaid and other public health programs.

The General Fund ended 2016 with a balance of $9.1 billion, also lower than mid-year projections and approximately $3.7 billion lower than a year ago.

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