This Report presents the results of the June 30, 2018 actuarial valuation of the benefits under
both the New York City Board of Education Retirement System (BERS) Qualified Pension Plan
and Group Life Insurance Plan (collectively, the Plan).
This Report presents the results of the June 30, 2018 (Lag) actuarial valuation of the benefits
under both the New York City Employees’ Retirement System (NYCERS) Qualified Pension Plan
and Group Life Insurance Plan (collectively, the Plan).
This Report presents the results of the June 30, 2018 (Lag) actuarial valuation of the benefits
under both the New York City Police Pension Fund (POLICE) and Group Life Insurance Plan
(collectively, the Plan).
This Report presents the results of the June 30, 2018 (Lag) actuarial valuation of the benefits
under both the New York City Fire Pension Fund (FIRE) and Group Life Insurance Plan
(collectively, the Plan).
This Report presents the results of the June 30, 2018 (Lag) actuarial valuation of the benefits
under both the New York City Teachers’ Retirement System (TRS) and Group Life Insurance
Plan (collectively, the Plan).
Economic growth is expected to continue in both the U.S. and New York City in 2019 and for the remainder of the plan period, albeit at a slower pace than in 2018. In our forecast, New York City’s economy is expected to grow at a slightly faster pace than the nation as a whole.
The PAFR aims to offer citizens, businesses, and community groups a breakdown of our revenues and expenses, as well as an annual snapshot of our local economy.
A portrait of NYC's cash position in the 4th quarter of FY2020. The COVID-19 pandemic and the efforts to contain it have plunged the economy into a deep contraction and led to a sharp drop in tax revenues in NYC. At the close of 4Q20, the City’s unrestricted cash balance stood at $6.627 billion.
New York City Comprehensive Annual Financial Report for Fiscal Year 2020. In accordance with New York City Charter §93(l), the Comprehensive Annual Financial Report (CAFR) is published within four months after the close of each fiscal year.
Advancing the vision of a smaller, safer and fairer jail system remains one of the City’s most pressing challenges and will necessitate collective action on the part of all criminal legal system stakeholders.
This analysis of business improvement districts (BIDs) identified four financial matters, which potentially point to increased financial risks and may decrease the availability of services to districts.
NYC Department of Finance Commissioner Jacques Jiha, Ph.D. Testimony on the FY'20 Preliminary Budget Hearing before the City Council Finance Committee.
The Mayor’s latest budget plan adds $23 million over the years 2020-2023 for his LeadFreeNYC initiative, and brings the total amount of funds budgeted for the program to $39 million. But that still leaves the program’s funding well short of the original commitment.
The city has committed more than $4 billion over 10 years that can be used to meet the terms of the settlement with federal officials for repairs at public housing developments across the city. Yet the full cost of the settlement is unclear, and may require additional city funds.
The Governor’s budget proposes that New York City—and just New York City—pay 10 percent of annual Family Assistance costs, a program that has been funded completely with federal dollars in the past.
In a 2015 plea agreement, BNP Paribas bank paid $8.9 billion in criminal penalties, including nearly $900 million to the city. Much of those funds remain unused.
Under the Mayor’s plan, the budget for summer jobs for youth would increase by more than $30 million, but the number of slots for participants would fall.
The fiscal condition of the city’s public hospitals may be looking better than in the recent past, but a prognosis of modest shortfalls remains for the years ahead.
IBO presents an overview of our analysis of the Mayor’s Preliminary Budget for 2020 and financial plan through 2023. The report includes our projections of city budget gaps and surpluses, highlights of our latest economic forecast, and re-estimates of revenue and spending under the Mayor’s plan
We project that NYC tax revenue will grow from $61.0 billion this year to nearly $70.6 billion in 2023. Get the details behind the numbers in our projections for individual taxes.
REPORT: IBO remains cautiously confident about NYC’s fiscal outlook. Read our latest economic forecast and projections of revenue and spending through 2023.
Advises that OLR has no capital projects to report on for purposes of the following provisions under the NYC Charter:
• Charter § 219(d), requiring each agency to prepare and submit periodic reports in regard to the progress of its capital projects.
• Charter § 222(a) requiring a report on the pro
The Citywide Savings Program in the November 2018 Financial Plan is the result of a collaborative effort between OMB and City agencies to reexamine internal processes and policies,use resources efficiently, and re-estimate expenses, all without sacrificing service delivery to New York City residents
November 2018 Financial Plan, Fiscal Years 2019 - 2022 - Details of financial plan by Agency, personal service expense, other than personal service expense and funding.
November 2018 Financial Plan, Fiscal Years 2019 - 2022 - Details the revenue estimates for the five year financial plan. This report also includes citywide summaries and plan-to-plan revenue changes.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
Adopted Capital Commitment Plan Fiscal Year 2019 - Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuing three years for all active capital budget projects.
A summary of the major programs, priorities and objectives of the Financial Plan, capital priorities and initiatives, the general economic condition of the City and inter-governmental fiscal relations.
February 2019 Financial Plan, Fiscal Years 2019 - 2023 -The Capital Budget as adopted by the City Council by program and source. The Adopted Capital Budget is presented by unit of appropriation within agency with a programmatic description of each unit of appropriation.
Presents information on capital appropriations and commitments with implementation schedules projected, and the ensuring three years for all active capital budget projects.
Released in each odd numbered year. It establishes long-range programmatic goals, setting forth priorities for the City to maintain its existing physical plant in a state of good repair, allows for programmatic replacement of components & program expansion.
Details the expense budget of certain agencies by major functional areas. Within each functional area, expenditures by personal services and other than personal services are presented.
Submission of the Modification to the Financial Plan for the City and Covered Organizations by the City to the Financial Control Board pursuant to Section 8.3 of the Financial Emergency Act.
November 2018 Financial Plan, Fiscal Years 2019 - 2022 - Submission of the Modification to the Financial Plan for the City and Covered Organizations by the City to the Financial Control Board pursuant to Section 8.3 of the Financial Emergency Act.
February 2019 Financial Plan, Fiscal Years 2019 - 2023. Highlights the Mayor's proposed budget initiatives; including estimates of expenditures and revenues; proposed expenditure reductions, recommended federal and State actions; the Capital Plan and financial program for the next four fiscal years.
This is to reexamine internal processes and policies, use resources efficiently, and re-estimate expenses, and re-estimate expenses, all without sacrificing service delivery to New York City residents