The city is currently in relatively good fiscal condition, due to steps to cut costs and raise revenue. However, the Mayor's budget does not address potential new problems, leaving pressure against City Hall to ensure the preservation of programs that will be affected by these problems. Economic uncertainties threaten the city and can affect the city's employment growth and tax revenues.
This report lists the budget options the City faces after the recession. The recession caused the loss of a significant amount of state aid and federal cutbacks, as well as growing pension and health expenditures, debt service, and other costs. These problems must be rectified and the options listed are potential solutions.
The Mayor's approach to balancing the city's budget in 2012 lies heavily on the expenditure side of the city's ledger and underscores a message of fiscal austerity.
IBO's comparison of enrollment data for this school year with last school year for kindergarten through eighth grade finds that average class sizes are already on the rise.
The release last week of the Metropolitan Transportation Authority's preliminary budget for 2012 and financial plan through 2015 prompted renewed concerns
over the agency's fiscal outlook. Transportation budget analysts have been praticularly critical of the amount of borrowing in the plan and the assumption of no wage increases
for the authority's workforce.
Just days after the events of September 11, 2001, President Bush and Congress promised that $20 billion in federal aid would be provided to help New York City
recover from the attack. Given the unprecedented scale of the destruction-physical, economic, and emotional-no one had real estimates of what the needs
and costs would be. As a result, the federal promise was loosely defined. Assistance was provided for immediate relief but a large portion of the aid was to flow to New York
over time as specific uses of the assistance were determined.
Web text supplement - Delays and disagreements over planning and financing the redevelopment of the World Trade Center site, as well as a weak market for
downtown office space, marked much of the first half decade following 9/11.
In 2009 the state law granting the Mayor control of the New York City public school system was renewed. That renewal included a requirement that the New York City
Independent Budget Office "enhance official and public understanding" of educational matters of the school system. The law also requires the Chancellor of the school system to provide IBO with the
data that they deem nevessary to conduct their analyses.
The Administration for Children's Services lists assistance to prevent the need for foster care as one of four components of its child welfare service system. The transition from a system that emphasizes foster care to one that focuses on preventing the need for foster care has been unsteady. This report looks at changes in the city's foster care and preventive services programs over the last decade, including enrollment, spending, and funding.
The Economic Development Corporation is required to issue annual reports on the discretionary economic incentive deals it makes with businesses and nonprofit organizations that affect New York City.
This New York City Independent Budget Office fiscal brief gives a background and data on the AIDS epidemic in New York City. Included in this brief are caseloads and finances related to treating AIDS, reflections on efforts being taken to combat the epidemic at the time, and projections for the future.
This report looks at how the resources, broadly defined, of New York's households and businesses were taxed by state and local governments, and at how those revenues
were distributed, both geographically and among major government functions.
The Bloomberg Administration issued its update of the budget for this fiscal year and financial plan for the ensuing years through 2015. The understated release reflects a
budget plan that appears to leave the city idling at a fiscal crossroads as Bloomberg Administration scans ahead, trying to discern where the roads may lead.
Includes IBO Expenditure Projections, IBO Revenue Projections, Pricing Differences Between IBO and the Bloomberg Administration, and IBO versus Mayor's Office
of Management and Budget Economic Forecasts
For years the city's real property transfer tax and mortgage recording tax, often referred to collectively as the transfer taxes, were a predictable source of city revenue.