November 2, 2012 - 22:24 AMT
NY official says Sandy damage could exceed $18bn

New York's state comptroller says the cost of superstorm Sandy could exceed $18 billion in New York alone, according to The Associated Press.

Comptroller Thomas DiNapoli pegged the toll at $15 billion to $18 billion in public and private sectorlosses based on past storms, but that total could easily grow.

DiNapoli, a Long Island native, said Friday, Nov 2, the state is also losing untold dollars in taxes at a time when revenue is already running nearly $500 million under projections.

The state budget due in April had been projected to show a $1 billion deficit before Sandy hit.

Gov. Andrew Cuomo and legislative leaders announced Friday they'll approval a $100 million fund to help Sandy victims rebuild.