This article presents the budget challenges faced by the City in the upcoming fiscal year. The City faces challenges arising from rising pension costs and the expiration of federal funding, which makes it more difficult to keep the budget balanced.
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.
Following with the City Council's Safe Housing Act, the Alternative Enforcement Program was implemented by the Department of Housing Preservation and Development. The purpose of this program was to improve the conditions of the city's rundown apartment buildings. Landlords have four months to fix their rundown apartments. After those four months, the city will reinspect the building, repair it, and send the bill to the owner, who will have to repay the city.
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.
The Annual Financial Statements sets forth fairly the financial position and results of operations of the DOE as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the appropriate understanding of the DOE's financial affairs.
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.