Governor misses deadline for mid-year fiscal update

PHOTOGRAPHER: The Associated Press

Gov. Andrew Cuomo has missed the first deadline aimed at creating a transparent and on-time budget, with no new date scheduled.

It’s the first miss for the “quick start” process since 2007 reforms intended to end 20 years of late budgets rushed to approval with little public scrutiny.

Under state law, the governor needed to submit his midyear update and projected revenues available for the next fiscal year by last Saturday. The schedule called for lawmakers to submit their projections within five days after the governor, with a consensus on revenues due by Nov. 15.

Before the budget reforms, governors and legislative leaders spent months haggling over how much money there would be to spend.

Cuomo says today the projections will take more time because of global economic volatility.