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Testimony
Housing
Testimony on the New York City Housing Authority and the City's Preliminary Fiscal Year 2024 Budget
New York City Council Committee on Public Housing
March 13, 2023
To balance its budget and fund its basic operations, NYCHA was increasingly reliant on City subsidies and non-recurring funding sources.
Report
Pensions & Benefits
Out of Balance
A Comparison of Public and Private Employee Benefits in New York City
December 16, 2009
The CBC and the Partnership for New York City surveyed large private firms in New York City to provide a basis for comparing the health insurance and pension benefits of private sector workers with those of municipal employees.
Report
Pensions & Benefits
Six-Figure Civil Servants
Average Compensation Cost Of New York City Public Employees
January 08, 2009
In fiscal year 2008, the average compensation cost per New York City full-time employee was $106,743; this figure represents a system out of sync with the private sector and an opportunity to limit the growth of the City’s liability in the future while continuing to provide fair and adequate compensation to the City’s employees. Three factors that have driven the growth in compensation among City employees are: 1) Pay increases are directly attributable to contract settlements with unions; 2) More generous terms of the health insurance benefits offered by the City, as compared to the private sector and other state and local governments; and 3) The benefit retirement plans offered by the City that lock in the City’s future payouts to retirees based on the employee’s pay, years of employment and age at retirement among other factors. CBC offers three recommendations in response to these factors.
Report
City Budget
7 Facts About the NYC Department of Buildings
April 25, 2023
CBC’s review of the agency’s budget presents trends in spending, revenues, staffing, and outputs.
Blog
City Budget
Not Undercover
The NYC Fiscal Year 2024 Executive Budget for the NYPD
May 17, 2023
New York City’s Fiscal Year 2024 Executive Budget allocates $10.8 billion for the NYPD in fiscal year 2024.
Letter
City Budget
CBC Proposes a New Fiscal Strategy for the City's FY2010 Budget
June 10, 2009
This letter to the mayor, speaker, and chairman of the finance committee outlines four key elements of a new fiscal strategy that would address the structural imbalance in the City's budget due to the ongoing recession.
Video
Economic Development
Conversation with Andrew Kimball, President & CEO of NYC EDC
A CBC Event
September 13, 2023
Andrew Kimball is President & CEO of New York City Economic Development Corporation (NYCEDC), where he leads NYCEDC’s work growing an innovative and inclusive economy for all New Yorkers.
Op Ed
City Budget
New Priorities for Mayor Bloomberg's Third Term
November 15, 2009
CBC President Carol Kellermann outlines the fiscal priorities that need to be addressed by Mayor Michael Bloomberg in his third term in this op-ed published in the Huffington Post.
Blog
City Budget
7 Facts about the Adams Administration’s Prior Savings Plans
April 12, 2023
CBC finds that 92 percent of the prior plans’ savings will have no effect on services since they come from eliminating underspending, re-estimating costs, savings on debt service, leveraging federal or other funding, and increasing efficiencies in ways designed to preserve services.
Testimony
Public Workforce
Testimony on the New York City Health Insurance for Employees and Retirees
Submitted to the New York City Council Committee on Civil Service and Labor
January 09, 2023
With health insurance costs budgeted to increase at a rate of 8.5 percent between fiscal years 2023 and 2026, efforts to restrain the City’s costs are critical.
Blog
City Budget
What to Look for in the NYC Fiscal Year 2024 Preliminary Budget
January 11, 2023
New York City’s mid-to-long-term outlook is precarious and acting now is key to long-term stability.
Report
Pensions & Benefits
The Explosion in Pension Costs
10 Things New Yorkers Should Know About Retirement Benefits for New York City Employees
April 06, 2009
In recent years, one of the fastest growing expenses for New York City government has been retirement benefits for municipal workers. This growth is driven mainly by investment losses in the pension funds and the enrichment of retirement benefits. As New York taxpayers have a critical interest in understanding the reasons behind the explosion in retirement benefit costs and what can be done to limit future liabilities, this report summarizes 10 facts about retirement benefits for New York employees.
Video
City Budget
Conversation with NYC Budget Director Jacques Jiha
A CBC Event
May 31, 2023
NYC Budget Director Jacques Jiha briefed CBC Trustees on the New York City Fiscal Year 2024 Executive Budget.
Report
City Budget
PEGs In Perspective
NYC FY 2024 Executive Budget
May 23, 2023
The vast majority of these actions will have no impact on services, thus far providing savings primarily by saving money that would not have been spent anyway.
Op Ed
City Budget
New York Is Teetering on a Fiscal Cliff
Crain’s New York Business
November 07, 2023
Fiscal stability underpins the city’s ability to provide core services to New Yorkers and is fundamental for economic growth.
Report
Education
Is It a Good Deal?
How New Yorkers Should Judge The Next Teachers' Contract
November 11, 2009
The New York City teachers’ contract expired on October 31, 2009. A new agreement may be reached soon. As the City faces a $5 billion budget gap for the next fiscal year and key educational reforms remain unfinished, here are key questions parents and taxpayers should ask to judge whether the next contract is a good deal for them.
Statement
Public Workforce
Statement on the New York City–District Council 37 Tentative Contract Agreement
February 17, 2023
The tentative contract announced today provides raises that are very reasonable given recent and anticipated inflation. The great challenge is how the City will pay for them.
Report
Education
School Spending, Enrollment, and Fiscal Cliffs 101:
The NYC Department of Education Budget Before, During, and After the Pandemic
April 11, 2023
Decisions about the DOE’s budget should consider enrollment declines and the City’s precarious fiscal condition.
Op Ed
City Budget
City budget crunch time means tough decisions — not more taxes
New York Post
December 20, 2023
Under every published projection, even after the mayor’s latest Program to Eliminate the Gap, New York City still faces a budget shortfall next year.
Testimony
City Budget
Testimony on NYC November 2023 Financial Plan
Submitted to the New York City Council Finance Committee
December 11, 2023
The choices made in the coming months will determine whether the City emerges as fiscally stable and competitive or risks both its ability to serve New Yorkers in need and its attractiveness to residents and businesses.