Without action from state lawmakers last week, the 421-a tax exemption will expire on June 15, 2022. However, even if the program is not renewed in a future session, it will continue to cost the city property tax revenue for years to come.
Under the city’s borough-based jails plan, Rikers Island will be replaced by jails in 4 of the 5 boroughs. The plan aims to create smaller & safer jails that allow people in custody to be closer to the courts where their cases are heard and their communities. IBO examines how these 2 goals overlap
IBO Assistant Director Sarita Subramanian's testimony to the New York City Council on the city’s Fiscal Year 2023 Adopted Budget’s impact on school budgets.
The Adams Administration added funds for homeless shelter costs in the Preliminary Budget. IBO estimates that additional funds for shelter will be necessary, and that the city will also need to increase budgeted amounts for its homeless outreach and its housing voucher programs in fiscal year 2023.
A key part of the Mayor Adam's Program to the Eliminate the Gap (PEG) is budgeted headcount reductions. IBO examines how other actions contained within the budget affect the number of headcount reductions the Mayor proposes to make.
Using student-level data, IBO tracked how many students enrolled in the 2019-2020 school year, when Covid-19 first hit, returned in the following (2020-2021) school year.
In this Budget Brief, IBO provides more details on our latest economic forecast and estimates of tax revenues, as well as a comparison with the Mayor’s tax projections included in the Preliminary Budget.
IBO’s fiscal outlook report presents our latest economic forecast for the city along with our projections of revenues and expenditures under the Mayor’s November financial plan.
IBO presents our latest economic forecast for the city along with our projections of revenues and expenditures under the Mayor’s November financial plan. We forecast key economic indicators, such as the jobs recovery from the pandemic-induced recession, and estimate budget gaps and surpluses
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.
As the city relaunches curbside organics collection after a yearlong suspension due to Covid budget cuts. IBO examines the cost of the city’s program and models what's needed to make the program as fiscally sustainable as it is environmentally.
New York City by the Numbers: In fall 2019, the New York City Department of Education capped most school suspensions at 20 days; IBO examines the potential impacts of the policy change.
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.
The Campaign Finance Board provides public funding to candidates running for local office. The 2021 election cycle was the first in which it implemented recent changes to increase public financing to campaigns. IBO e looks at the amount spent in '21 & how it compares to previous elections.
Our Snapshot Report is an slide deck that presents our key findings on the local economy, projections of tax revenues, and spending estimates under the Mayor’s Preliminary Budget.
In this brief, IBO examines the funding level for staff at the Civilian Complaint Review Board—the city agency charged with investigating police misconduct—and how it compares with City Charter mandated levels. We also examine how the time it takes for the review board to complete its investigations
Medicaid enrollment and claims in New York City have grown over the course of the course of pandemic, but the program’s extra costs have fallen on the federal government. IBO examines recent Medicaid trends and what the future might hold for the program & the city’s coffers.
The Adams Administration increased funding for the city’s Summer Youth Employment Program in the Preliminary Budget. IBO explores what we know about the planned expansion thus far and what questions remain.
Anticipating a reduction in rental income, NYC sharply reduced the assessments used to calculate ‘22 tax bills. These reductions turned out to be an overestimate & the ’23 tax roll now reflects this as projected growth. IBO examines the reason for the change.
Included in its Preliminary Budget, the Adams Administration proposed 3 tax programs: one to enhance the value of city’s EITC, which increases the value of wages and salaries for low- and moderate-income tax filer; as well as 2 tax breaks to incentivize the development of childcare programs in NYC
FOCUS ON THE EXECUTIVE BUDGET: The Covid-19 pandemic has added to the burdens of the city’s fiscally and physically troubled public housing. Does the Mayor’s Executive Budget provide help?
FOCUS ON THE EXECUTIVE BUDGET: Capital funding for affordable housing preservation and development programs has been shifted and, in some instances, shrunk in the Mayor’s latest budget plan.
FOCUS ON THE EXECUTIVE BUDGET: The Mayor’s budget for Vision Zero includes a relatively small cut in the Department of Transportation’s expense budget but an increase in capital spending.
A report on the agency's efforts during the previous quarter to implement the plan adopted pursuant to paragraph nineteen (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
Subway and bus ridership fell with onset of Covid-19, playing havoc with the MTA’s budget. Many of the same factors keeping riders off the MTA’s rails, buses, bridges & tunnels is also leading to a slump in the agency’s dedicated tax revenues, another primary source of its funding.
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?
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.
A report on the agency's efforts during the previous quarter to implement the plan adopted pursuant to paragraph nineteen (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
A report on the agency's efforts during the previous quarter to implement the plan adopted pursuant to paragraph nineteen (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
REPORT: IBO remains cautiously confident about NYC’s fiscal outlook. Read our latest economic forecast and projections of revenue and spending through 2023.
NYC BY TNE NUMBERS: When New York City went on a pandemic “pause” in the spring, work at some 35,000 construction sites came to a halt. But not for long. How many sites restarted work—and why—during the pause?
The details behind our latest economic forecast, estimate of tax revenues, and projection of spending based on the Mayor’s Executive Budget and Financial Plan through 2024.
NYC BY THE NUMBERS: With City Hall preparing for layoffs due to the pandemic-related recession, IBO looked at the rise and fall in city staff before, during, and after the Great Recession. Which agencies had the deepest cuts? Which grew the most in recent years?
New York City’s budget includes more than $450m this year to fund the offices of the city’s 5 District Attorneys and Special Narcotics Prosecutor. In the 1980s & 1990s, as the number of arrests climbed staffing at these offices grew. But as arrests fell sharply over the past decade, did staff fall?
There are many complications to reopening schools in the midst of the Covid-19 pandemic. One of them is the basic question of whether the city’s public schools have enough physical capacity to accommodate students and teachers while social distancing.
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: 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.
NYC BY THE NUMBERS: The Covid-19 pandemic brought renewed attention to the importance of parks and open space in neighborhoods. But some NYC neighborhoods have substantially more park space than others. We map the differences by square foot per resident.
REPORT: With hunger and food insecurity rising amid the Covid-19 pandemic, the de Blasio Administration launched the Grab & Go food program at many city schools, where anyone in need could pick up free meals. But were the sites located in the areas with the greatest economic need?
Report regarding the collection, retention, and disclosure of identifying information by such agency and any contractors or subcontractors utilized by such agency
The city’s public hospital system, NYC Health + Hospitals, was regaining fiscal stability. Then the Covid-19 pandemic arrived. There may be enough federal aid to help H+H recover, at least in the near term. How much can the system expect to receive and what are the fiscal challenges ahead?
NYC BY THE NUMBERS: Was $1 billion cut from the New York Police Department budget for this year? And how much of that cut continues next year and beyond in the city’s financial plan?