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.
While what consitutes a progressive budget is fundamentally a subjective matter, examining the mayor's budget themes of fiscal responsibility and budget honesty fall more directly within IBO's role.
An annual rite of spring in NYC has been the often contentious debate over the setting of the rate customers will pay for the city's water and sewer system in the coming fiscal year. Since 1995 the rate has increased
every year, some years by as much as 10 percent or more. The de Blasio Administration recently made its first water rate proposal calling for an increase of 3.35 percent.
At a point in time when one massive housing investment effort is winding down and another is being designed, it is appropriate to take stock of the city's housing circumstances to evaluate the
changes that have taken place in the city's housing landscape, and to identify the most urgent housing needs we now face.
This is IBO's review of the Mayor's Preliminary Budget for 2015 and Financial Plan through 2018. The report reflects state issues that are affecting the City budget presented in Mayor de Blasio's plan.
This report summarizes the City's fiscal state and standing going into Fiscal Years 2014-2018. The City's economy is projected to grow, facilitating a strengthening in the City's budgetary outlook. The Preliminary Fiscal Year 2015 budget is balanced, though there are risks of funding gaps. However, the City's economy and finances continue to improve, and the economic forecasts for future years remain bright.
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.