On 1/26/23 the New York State Senate Standing Committee on Children & Families held a hearing on childcare in the state. IBO Assistant Director Sarita Subramanian submitted testimony on the city’s early childhood programs.
This testimony (12/8/22) outlines IBO’s latest economic forecast and tax revenue projections, our current spending estimates for the city, and provides preview of our fiscal outlook for the coming year.
In a series of charts and graphs IBO presents some key findings from the data, in particular, how in 2020—the first year of the Covid-19 pandemic—total income reported by full-year New York City residents increased compared with 2019., along with 2020 PIT tables.
A report on the agency's efforts during the previous quarter to implement the plan adopted pursuant to paragraph 19 (annual plan) of Section 815(a), including details of agency's efforts to implement equal employment practices, including statistical information regarding total employment, including provisional, seasonal, per-diem and part-time employees, new hiring and promotions in a manner which facilitates understanding of an agency's efforts to provide fair and effective equal opportunity employment for minority group members, women and members of other groups who are employed by, or who seek employment with, city agencies.
As the MTA prepares to release its Nov. '22 financial plan, in a series of charts and graphs, IBO explores how ridership and user-revenues have recovered for each MTA service since March 2020 and whether the authority to is likely to meet its current 2022 fare and toll revenue goals.
Acting Director George Sweeting testifies at a Council hearing on recommendations from the Advisory Commission on Property Tax Reform. While its recs. could help eliminate some of the most glaring problems, significant disparities were largely unexamined.
IBO was asked to analyze the costs NYC will incur for services to the city's newly arrived asylum seekers. Based on early Nov. numbers, IBO estimates the city will spend at least $596 million over a year on services such as shelter, public education, & some health-related costs, among others.
Over the past few months IBO participated as a non-voting observer on a task force to provide independent information and analysis. As part of that process, IBO simulated the fiscal impact of the task force’s top five recommendations. This presentation provides the results of those simulations.
IBO’s testimony provides an update on how much the city has claimed of these funds through the end of fiscal year 2022, how much is currently budgeted for spending, and how much remains to be added to the city’s budget in upcoming financial plans.
Through NYC's “Schoolyards to Playgrounds” program, the public can access some school playgrounds & yards during non-school hours. At the request of CM Gale Brewer, IBO examined how many school buildings are currently participating in the program & the cost to add those that aren't.
Much has been discussed about growth in city spending for Carter Cases—when students with disabilities are enrolled in private schools & parents seek tuition payment. In FY22, it topped $900M. We examine Carter Case spending & what the costs include.
To calculate a commercial property’s value for tax purposes, the city uses what is known as a “capitalized income approach.” IBO examines this method, focusing on a key part of the calculation and investigates how overestimation of these rates leads to inequitable property assessments.
The New York City Housing Authority regularly passes its five-year operating budget with funding gaps, which in last year’s plan exceeded $300 million in most years. IBO examines changes in NYCHA’s budget, including the subsidies the city provides to NYCHA, and looks at challenges ahead.
ACS's contracts with nonprofit agencies to provide foster care services to children who cannot remain safely in their homes. The city is in the process of rebidding those contracts, with new ones set to begin next fiscal year. In this brief, IBO explores the changes expected under the new contracts.
In addition to the federal Covid-19 relief funds allocated to NYCs traditional public schools through the DOE, the city’s charter schools also received their own federal aid to help ease the impacts of the pandemic. IBO explores how much aid NYC’s roughly 300 charter schools received.