New York state spending was nearly $860 million lower than expected through the first half of the fiscal year, while tax collections were just shy of projections.

That's according to state Comptroller Thomas DiNapoli's Mid Year Update and September cash report released today.

DiNapoli says New York is in a stable financial position.

He says while the federal government is up and running again, the possibility of further disruptions from Washington and continued slow economic growth remind us that caution is still necessary.