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New York City Independent Budget Office - From Superstorms to Labor Settlements: Despite Modest Budget Gap Projections, Significant Challenges Remain

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Based on IBO's tax and spending projections under the Mayor's November 2012 Financial Plan, the city faces a budget shortfall of $811 million in the upcoming fiscal year, a relatively modest 1.6 percent of out forecast for city-generated revenues. IBO's projected shortfall for the following year, fiscal year 2015, is $1.7 billion, 3.1 percent of expected city-generated revenues.

Agency
Subject
Report type
  • Annual Report
Date published
  • 2012-12-27

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