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
FISCAL OUTLOOK: IBO's annual report on the city's outlook for the years ahead features our latest economic forecast and includes projections of job growth as well as updated tax revenue estimates for this fiscal year and through 2020. In addition, the report presents IBO's re-estimates of city expenditures based on the Mayor's November financial plan and our projection for budget surpluses and gaps in 2017 through 2020.
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.