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Blog State Budget
March 19, 2019New York State revenue weakness already looms over the fiscal year 2020 budget negotiations.
March 19, 2019Options for raising sufficient funds for roads and transit statewide include increasing tolls and fees, enacting congestion pricing, and implementing a vehicle-miles traveled (VMT) fee.
Podcast episode City Budget
March 14, 20194.7 mph is the speed at which taxis travel in Midtown Manhattan. Nicole Gelinas, a Senior Fellow at the Manhattan Institute, joins the podcast to discuss traffic, mobility, and the MTA.
March 13, 2019The pied-à-terre tax is appealing politically because it is levied on wealthy people with means to pay and nonresidents who do not vote. Nevertheless, it is problematic for several reasons.
March 13, 2019The 2019 Charter Revision Commission, which is looking at ways to improve the city’s central governing document, heard suggestions on Monday from community-based organizations, fiscal watchdogs, and former and current city officials about potential changes to the city’s byzantine budgeting process.
Over the course of more than three hours, experts weighed in on the city’s flawed contract procurement system, the severe lack of transparency in spending on capital projects, the possibility of creating a rainy day fund for the city, and measures to generally improve accountability in city spending. There was general agreement that city procurement needs to be overhauled to make it more efficient and transparent, but broader opposition to changes in the budgeting process and the administration’s ability to set revenues and expenditures.
The city’s capital spending process has been particularly fraught, leading to hundreds of millions in cost overruns and delayed projects. At the hearing, Jon Kaufman, chief operating officer at the Department of City Planning, outlined several reforms DCP has implemented and said that his department works with agencies to appropriately plan their future capital needs. But, he said, “I don’t think additional charter mandates are going to lead to materially increased collaboration.”
Independent fiscal watchdogs also bolstered the administration’s argument. Carol Kellermann, former president of the Citizens Budget Commission (CBC), gave the commission two pieces of advice: “First, do no harm...Second, don’t use the charter to do things that can be done by local law.”
Testimony City Budget
March 11, 2019While many worthwhile ideas will be proposed, CBC believes the Commission should focus on and proposing only those changes essential to the Charter’s purpose
Op Ed Education
March 11, 2019Albany should target the distribution of school aid to districts that need it, rather than ensure that almost every district gets more no matter its circumstance.
March 08, 2019The federal monitor is tasked with ensuring that NYCHA will remediate its most pressing physical issues, including lead, mold, broken elevators, and other deficiencies.
March 07, 2019Despite significant funding increases over the past decade, some districts in New York State still do not have the resources to provide a sound basic education.
Blog City Budget
March 05, 2019For the first time since taking office, Mayor Bill de Blasio has announced plans to implement a Program to Eliminate the Gap (PEG), which requires agencies to generate savings through expense reductions or revenue enhancements. The de Blasio administration previously eschewed PEGs in favor of Citywide Savings Plans (CSPs); in contrast to the PEG, agency participation in the CSP was voluntary. Pursuing a PEG presents both a challenge and an opportunity. This blog proposes three guidelines for the process: 1) identify significantly more than $750 million in savings, 2) encourage recurring savings through efficiency, and 3) follow agencies’ leads.
Special Feature Public Workforce
March 04, 2019Track the City's total headcount growth back to fiscal year 2004 - shows growth by employee category and which agencies are projected to grow the most in the coming years.
Video State Budget
March 04, 2019New York State Budget Director Robert Mujica reviewed the New York State Executive Budget for Fiscal Year 2020.
Special Feature Capital Spending
March 04, 2019At the end of fiscal year 2018, New York City debt outstanding grew to $119 billion. As total debt has grown—by 75 percent since 2005—the forms of debt the City issues have also diversified. This growth affects the City budget in the form of higher debt service costs. For City-supported debt, debt service costs were slightly below 11 percent of tax revenues in fiscal year 2018.
Special Feature City Budget
March 04, 2019The Budget Navigator is an online tool that allows New Yorkers to be their own budget watchdogs. Users can examine New York State or City revenues and expenses to determine levels of funding in recent years, analyze trends, and see how that funding compares between departments and services.
Video Economic Development
February 28, 2019CBC's Annual Awards Dinner honoree Jerome H. Powell delivers the keynote address. He is introduced by Stanley Fischer, the former Vice Chair of the Board of Governors of the Federal Reserve System.
February 26, 2019Citizens Budget Commission President Andrew Rein issued this statement on the 10-Point Plan to Transform and Fund the Metropolitan Transportation Authority (MTA):
Blog City Budget
February 26, 2019The potential shortfall from a recession comparable to the last two recessions could be substantial: between $15 billion and $20 billion below projections over three years.
Letter State Budget
February 25, 2019The Executive Budget does not sufficiently restrain spending growth or build reserves, which are critical if the State is to weather an eventual economic downturn without harmful spending cuts and counterproductive tax increases.
Podcast episode City Budget
February 21, 201925,000 is the number of jobs that would have been created under a now-defunct deal with Amazon to create a second headquarters in Long Island City, Queens. Vishaan Chakrabarti, founder of the Practice for Architecture and Urbanism (PAU), discusses the deal and how its failure may impact New York City's economic competitiveness.
Report City Budget
February 21, 2019CBC's new report outlines nine critical things New Yorkers should know about procurement and makes four recommendations that could generate savings for the City.