State Comptroller Tom DiNapoli announced yesterday that New York took in nearly $800 million more than expected during the first three months of the new fiscal year — but he warned that storm clouds lay ahead.

“Revenue collections in the first quarter were strong, but our fiscal health is tenuous,” said DiNapoli, noting that the state got its last federal stimulus funding in June and that the “millionaire’s tax” on those earning over $200,000 a year expires Dec 31.

DiNapoli said the increased revenues resulted from unexpectedly “robust” increases in personal-income and business taxes as the state weathered the recession better than forecast during April, May and June.

(Source: NY Post)