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.
In this brief, IBO examines this operating support and identifies risks that the city’s public hospital system is facing that may make city subsidies in the future even more critical.
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.