For many years, the city’s capital plans, which outline when funds for capital projects will be committed, have been substantially front-loaded with much of the funds slotted for the first year of each four-year plan—even though it was unlikely funds could or would be committed in that timeframe.
NYC is set to receive $7.3b in federal education aid from the 2 most recent stimulus acts, the CRRSA & ARPA. IBO details their planned uses and examines how much is budgeted for initiatives that will likely continue after federal funding stops.
There’s been much attention over the past year to how much the city spends on the police department. But policing is only one part, albeit a large one, of a bigger system that includes the courts, detention & related functions. We look at the full cost of the justice system and how much it has grown
NYC BY THE NUMBERS: There are just a few weeks left in FY 2021 and the police department is on pace to spend less on overtime than it has in recent years. But how much less and what are the prospects for reduced spending in the years ahead?
The Covid-19 pandemic and the resulting lockdown brought about extraordinary economic distress for New York City and its residents. That distress is now easing thanks to an influx of federal aid to the city budget and the successful development and distribution of Covid-19 vaccines.
The New York City Independent Budget Office is today adding to its compilation of roughly 100 budget options for the city—ways New York could cut spending or raise revenue. In addition to the new measures introduced today, we have revised or updated a number of initiatives included in our online Bud
With the parents of thousands of preschoolers needing to go to work and many K-8th grade students doing schoolwork remotely, the de Blasio Administration created the Learning Bridges and Learning Labs programs to provide care, supervision, and help with classes at hundreds of sites across the city.
The city’s public housing authority has to deal with removing lead paint, fixing broken elevators, a backlog of thousands of other repairs—and growing budget gaps. See the details on the housing authority’s fiscal challenges.
PRELIMINARY BUDGET FOCUS: A number of changes have been proposed that would affect how the city’s annual contribution to its pension funds are calculated. We explain the changes and their implications for the city’s budget:
PRELIMINARY BUDGET FOCUS: Under the Governor’s budget plan, state aid to NYC schools would grow next year. But the outlook for school aid is complicated by an influx of federal pandemic school aid and the Governor’s proposed restructuring and reductions of school support from Albany.
PRELIMINARY BUDGET FOCUS: A more detailed presentation of our most recent economic forecast for the city reveals a slow path towards recovery, with some sectors of the economy continuing to trail through 2025.
FOCUS ON THE PRELIMINARY BUDGET: Over the past year, shifts in the composition of the city’s homeless population, increased spending on rental assistance, and pandemic-related aid from the Federal Emergency Management Agency have altered the city’s costs for providing shelter for the homeless.
PRELIMINARY BUDGET FOCUS: Just hours before the Mayor released the 2022 Preliminary Budget he learned that the Federal Emergency Management Agency was increasing its reimbursement rate to the city for Covid-related costs. How much more can the city expect and what does this mean for city spending?
PRELIMINARY BUDGET REPORT: In this new report we present our latest economic forecast and analysis of the Mayor’s 2022 Preliminary Budget and Financial Plan through 2025. In the form of a chart book the report presents our key findings on the local economy and projections of tax revenues & spending.
In 2016, the Mayor and City Council provided the libraries with a substantial hike in their subsidies with the aim of increasing public access and use of the more than 200 library branches across the five boroughs. How well have those goals been met?
LETTER: The city’s public schools are set to open next week (9/21/2020) with more than the usual number of teachers and the need for many safeguards. Council Member Mark Treyger asked us what this will cost.
REPORT: Our new economic forecast and projections for tax revenue & spending based on the recently adopted budget for fiscal year 2021 & financial plan through 2024. The report, which includes our latest projection of job losses & gains and estimates of budget surpluses and gaps in the coming years.
NYC BY THE NUMBERS: The Covid-19 pandemic has led to a surge in unemployment and an increase in government assistance, including cash assistance grants. How much have New York city’s cash assistance rolls grown in recent months?
FOCUS ON THE EXECUTIVE BUDGET: Before the Mayor’s recent announcement that that the city may need to lay off or furlough as many as 22,000 municipal workers, the Executive Budget included the elimination of some vacant positions and a partial hiring freeze.
We often get questions about NYPD overtime spending. So here's an update: In a 2-week period roughly since antiracism protests began, NYC spent $115 million on police overtime, over 4X spent in same period last year.
FOCUS ON THE EXECUTIVE BUDGET: The Mayor’s savings plan for next year includes nearly $475 million in cuts to the education department—68 percent of the reductions target funding for general education classrooms.
NYC BY THE NUMBERS: Last November voters approved a change to the City Charter that increased staffing at the Civilian Complaint Review Board. Is staffing expected to reach the approved level under the Mayor’s Executive Budget?
REPORT: Washington has enacted four relief bills related to Covid-19. How much of this funding will flow to the city budget and how much to other key local agencies such as the housing authority and public hospitals.
TESTIMONY: IBO Director Ronnie Lowenstein presents the New York City Council with an overview of IBO’s latest economic forecast and our estimates of revenue and spending under the Mayor’s Executive Budget.
As local tax revenue and aid from Albany decline due to the economic fallout from the coronavirus pandemic, Mayor de Blasio has proposed using a substantial share of reserve funds to help balance the city’s budget. We look at the city’s different reserve funds and the Mayor’s plan for using them.
REPORT: The Covid-19 pandemic has played havoc with the city’s economy. We make some initial estimates of the resulting job losses and tax revenue declines compared with our estimates from just a couple of months ago.
FOCUS ON THE PRELIMINARY BUDGET: Over the past three years, the state has forced New York City to shoulder an increasing amount of annual child welfare and juvenile justice costs. The Governor’s budget for 2021 would continue this pattern.