On the evening of Friday June 24 Mayor Michael Bloomberg and City Council Speaker Christine Quinn announced an agreement on the City’s budget for fiscal year 2012; five days later, on Wednesday June 29, the Council voted to approve the deal and taxpayers got to see the specifics.
The Mayor and City Council are discussing ways to avoid the layoffs and service cuts proposed to balance the fiscal year 2012 budget. They should consider reforming health insurance arrangements for employees and retirees as a way to create meaningful savings and prevent the cuts. CBC suggests three specific changes that could save the City over $1.5 billion in fiscal year 2012:
The Mayor, City Council members and labor leaders are actively discussing ways to prevent the layoffs and cuts proposed to balance the budget in fiscal year 2012. One option under consideration is diverting money from the Health Insurance Premium Stabilization Fund.
As New York’s elected officials consider options for balancing budgets in the face of record deficits, they should be attuned to opportunities for cost-savings in all areas, no matter how big or small. One approach for identifying potential savings is examining practices in which New York State and its local governments are out of line with their peers.
Executive Vice President and Director of Research Charles Brecher pens this op-ed that discusses ways to rein in growth of the City's retirement benefits, notably penions and health insurance.
This letter from the CBC urges the Governor to veto A4628, a bill that would renew the provision that prohibits school districts from reducing the health insurance benefits offered to retirees unless the changes are approved by the local teachers union.
CBC released a letter that was sent to the New York State Legislature containing “10 Do’s and Don’ts” for spending the estimated $4.8 billion in federal stimulus funds allocated to New York State for use in budget relief in fiscal year 2009-10. The letter briefly outlines the 10 rules and cautions that the funds need to be wisely spent over the next two years.
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