"...a group that has such a long and distinguished record in identifying and addressing crucial issues affecting the governments of the city and state of New York." Federal Reserve Chairman Ben S. Bernanke
Mayor Michael Bloomberg has been making incremental reductions to New York City’s operating budget since 2008. In eight rounds of cuts, city agencies have been asked repeatedly to do more with less and to sacrifice personnel and programming in order to reduce projected out-year deficits.
New York City's extensive public infrastructure creates an important and expensive responsibility on the part of public officials to repair, maintain and enhance these assets. Generally, regular maintenance is funded in the City's operating budget, while repairs and improvements are funded in the capital budget.
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