"...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
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 dramatic aid reductions proposed by Governor Andrew Cuomo in his Executive Budget on February 1 are likely to lead to cuts in spending by New York City agencies. These forthcoming cuts should be understood in the context of previous efforts to reduce municipal spending.
Readers of this blog have probably heard about new and increased fees and charges that the Mayor included in the November budget modification to help close the looming $4.5 billion fiscal year 2012 budget gap: increased parking meter fees, higher charges for parks and recreation permits, a proposal to charge insured motorists who get into accidents for emergency response services. During
In June the New York City Council voted to approve New York City's budget for fiscal year 2011. The Mayor and the City Council should be commended for passing a budget that responsibly deals with difficult financial realities without raising taxes and by achieving recurring savings of over $1 billion in agency spending.
CBC Senior Research Associate Maria Doulis testifies before the City Council Finance Committee on the Executive Budget for fiscal year 2009. With a surplus projected in the current year and a budget balanced for fiscal year 2009, this is a critical opportunity to think about the long-term fiscal challenges facing the City.
CBC comments on Executive Budget for fiscal year 2009 released by Mayor Michael Bloomberg. The budget is based on a realistic assessment of the economic problem facing New York City and presents a sound strategy for dealing with it in the coming fiscal year.
CBC releases the following statement on Mayor Michael Bloomberg's financial plan for fiscal year 2008-2009, with particular emphasis on the projected surplus of $4.1 billion in the current fiscal year.
This publication contains the responses of the six major candidates for Mayor of the City of New York to three questions that focus on the most important fiscal and economic challenges facing the next mayor.
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