Just days after the events of September 11, 2001, President Bush and Congress promised that $20 billion in federal aid would be provided to help New York City
recover from the attack. Given the unprecedented scale of the destruction-physical, economic, and emotional-no one had real estimates of what the needs
and costs would be. As a result, the federal promise was loosely defined. Assistance was provided for immediate relief but a large portion of the aid was to flow to New York
over time as specific uses of the assistance were determined.
Web text supplement - Delays and disagreements over planning and financing the redevelopment of the World Trade Center site, as well as a weak market for
downtown office space, marked much of the first half decade following 9/11.
The release last week of the Metropolitan Transportation Authority's preliminary budget for 2012 and financial plan through 2015 prompted renewed concerns
over the agency's fiscal outlook. Transportation budget analysts have been praticularly critical of the amount of borrowing in the plan and the assumption of no wage increases
for the authority's workforce.
In accordance with the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit monthly financial reports.
This report documents the expense, revenue, and contract budget for the fiscal year 2012 budget. Included are publications related to the three budgets as well as the summary of the budgets by agency.
This report documents the supporting schedules for the adopted fiscal year 2012 budget. The specific details and finances are included for each agency.