For the FY2020 Adopted Budget, as a condition of the funds in unit of appropriation number 290, DCAS shall submit an annual report to the Council regarding School Safety Guard reimbursement required pursuant to Local Law 2 of 2016.
This report gives New Yorkers a window into their local government and its budget functions. It is a user-friendly companion to the City’s 2018 Comprehensive Annual Financial Report (CAFR), which offers a detailed picture of our City’s financial condition.
At the close of 4Q18, the City’s unrestricted cash balance stood at $9.394 billion, virtually unchanged from the closing balance at the end of 4Q17. The 4Q18 average cash balance of $9.035 billion fell below the 4Q17 average by $363 million.
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.