IBO introduces a new publication--a set of charts and graphs that highlight key findings from our latest economic forecast and tax collection and spending estimates, based on the Mayor’s preliminary budget for 2021 and financial plan.
REPORT: The Covid-19 pandemic has played havoc with the city’s economy. We make some initial estimates of the resulting job losses and tax revenue declines compared with our estimates from just a couple of months ago.
As local tax revenue and aid from Albany decline due to the economic fallout from the coronavirus pandemic, Mayor de Blasio has proposed using a substantial share of reserve funds to help balance the city’s budget. We look at the city’s different reserve funds and the Mayor’s plan for using them.
TESTIMONY: IBO Director Ronnie Lowenstein presents the New York City Council with an overview of IBO’s latest economic forecast and our estimates of revenue and spending under the Mayor’s Executive Budget.
REPORT: Washington has enacted four relief bills related to Covid-19. How much of this funding will flow to the city budget and how much to other key local agencies such as the housing authority and public hospitals.
NYC BY THE NUMBERS: Last November voters approved a change to the City Charter that increased staffing at the Civilian Complaint Review Board. Is staffing expected to reach the approved level under the Mayor’s Executive Budget?
FOCUS ON THE EXECUTIVE BUDGET: The Mayor’s savings plan for next year includes nearly $475 million in cuts to the education department—68 percent of the reductions target funding for general education classrooms.
FOCUS ON THE EXECUTIVE BUDGET: Summer programs canceled, pools closed. A pandemic and budget shortfalls may lead to a summer of discontent—but substantial savings for the city.
NYC BY THE NUMBERS: There are just a few weeks left in FY 2021 and the police department is on pace to spend less on overtime than it has in recent years. But how much less and what are the prospects for reduced spending in the years ahead?