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Blog
City Budget
5 Myths and Facts about the NYC FY 2024 Budget
August 15, 2023
Let’s unpack the facts behind some common myths about New York City’s budget.
Blog
City Budget
Spending In Perspective
NYC FY 2024 Executive Budget
May 23, 2023
While proposed fiscal year 2024 City funds spending declines 2.2 percent from what is currently projected for fiscal year 2023, it is 7.5 percent higher than fiscal year 2022.
Blog
City Budget
Not Undercover
The NYC Fiscal Year 2024 Executive Budget for the NYPD
May 17, 2023
New York City’s Fiscal Year 2024 Executive Budget allocates $10.8 billion for the NYPD in fiscal year 2024.
Blog
Housing
4 Fast FHEPS Facts
May 08, 2023
The cost of these rental assistance programs has increased immensely, from $16 million in fiscal year 2015 to an anticipated $636 million in fiscal year 2023.
Blog
City Budget
7 Facts about the Adams Administration’s Prior Savings Plans
April 12, 2023
CBC finds that 92 percent of the prior plans’ savings will have no effect on services since they come from eliminating underspending, re-estimating costs, savings on debt service, leveraging federal or other funding, and increasing efficiencies in ways designed to preserve services.
Blog
Economic Development
Shrink, Don’t Expand, the New York State Film Tax Credit
March 06, 2023
The current program already is overly generous compared to other states and should be phased out.
Blog
Housing
Building the Housing We Need
State Proposes Cost-Effective Strategies to Boost Production, Increase Affordability
March 01, 2023
Governor Kathy Hochul proposed a package of bills intended to double New York’s housing production rate to create 800,000 new units over the next decade.
Blog
Economic Development
No Extension without Evaluation
Reject Proposed Extension of Certain NYC Economic Development Tax Breaks Absent Appropriate Analysis
February 23, 2023
Prior evaluations found two of these programs to be ineffective; the bar to justify their extension should be appropriately higher.
Blog
City Budget
What to Look for in the NYC Fiscal Year 2024 Preliminary Budget
January 11, 2023
New York City’s mid-to-long-term outlook is precarious and acting now is key to long-term stability.
Blog
State Budget
Governor Cuomo’s Third Budget: Priorities for Fiscal Year 2013-14
December 17, 2012
Four important challenges face state leaders as they prepare the next budget for FY2014 in Medicaid, Education, Economic Development and Local Government Relief.
Blog
City Budget
Why the Latest PEG Is Not Likely to Be the Last in NYC's Budget
December 05, 2012
This blog explains why a savings plan, known as the "PEG" is necessary in the Nov 2013 NYC budget modification, examines the savings, and offers broader perspective on the city's fiscal challenges.
Blog
State Budget
How Sick Leave Can Be Bad for a Locality's Fiscal Health
(And Health Insurance May Be Even Worse)
July 01, 2012
“Excusable” borrowing appears now to be growing, extending to accrued sick leave and vacation days that are claimed by departing employees without money having been set aside to pay for them.
Blog
City Budget
Restoring City Priorities Along With Spending Cuts
June 21, 2012
The Mayor and City Council's “budget dance” focuses largely on child care slots and after-school programs, but should really be about the City’s overly generous contributions to the health insurance of former City employees and their spouses.
Blog
Economic Development
Economic Development Reporting in New York City: What’s Missing?
April 11, 2012
In New York City, current reporting requirements fall short of capturing the full amount of spending in the name of economic development.
Blog
City Budget
What’s Different About Next Year’s City Budget
February 09, 2012
Tax revenues are not exceeding expectations; they are just on target.
Blog
City Budget
Delaying the Pain
The truth about cost-cutting in New York City's November Plan
December 15, 2010
A closer look at the City November 2011 savings plan reveals two notable points: Nearly two-thirds consists of new revenue, and expenditure cuts are modest, although health, welfare, libraries and cultural institutions bear most of the burden.
Blog
Capital Spending
When Will the Capital Budget Cuts Really Arrive?
December 09, 2010
Failure to impose fiscal austerity on the infrastructure agenda is evident in growing levels of capital commitments.
Blog
Pensions & Benefits
What is OPEB and Why Does it Cost $9.4 Billion?
December 05, 2010
The true cost of retiree health insurance and "other postemployment benefits," or OPEB, was $9.4 billion in fiscal year 2010. Why it cost so much and what should be done about it.
Blog
Capital Spending
Mind the Gap
Funding Repair and Maintenance of New York City Infrastructure
July 26, 2010
Past neglect has created a need for nearly $5.6 billion in repair of existing facilities in New York City in order to bring them to satisfactory condition, known as a "state of good repair." Yet the City's capital budget allocates only about half, with the gap especially large for streets, hospitals, and parks.
Blog
City Budget
The City’s FY 2011 Budget: The Buck Stops Here
July 12, 2010
With significant budget gaps looming in the outyears and the end of nearly a decade of multi-billion dollar surpluses, it is disappointing that more has not been done to lower spending.