State hiding its debts: pol

ALBANY — There’s more borrowing and not enough transparency in New York’s new $168.3 billion state budget, state Controller Thomas DiNapoli said Friday.

Borrowing is up $6.5 billion, DiNapoli said, criticizing the fact the the budget boosts “backdoor” borrowing by state authorities — a procedure that lets the state borrow without direct voter approval.

DiNapoli is also worried about how some large posts of budget cash will be spent — including appropriations for economic development programs, which he says fail to “include any provisions to improve transparency or accountability.”

The budget includes at least six new actions that reduce or eliminate oversight by the controller’s office of state agency contracts before they go into effect, DiNapoli’s annual budget analysis found.

Gov. Cuomo and the Legislature get credit from DiNapoli for addressing the new federal tax changes and creating the Secure Choice Savings Program, a voluntary retirement plan for people whose employers do not provide one.A Cuomo spokesman had no immediate comment.