For the first time in the city’s modern history, Mayor Michael Bloomberg announced Thursday the incoming mayor will inherit a balanced budget.
The mayor says the city’s economy is better than previously forecast.
Back in June when the city adopted it’s budget for the current fiscal year, which started on July 1 and ended June 30, it was projected that revenues and expenses for the fiscal year would be out of balance by roughly $ 2 billion.
Bloomberg cites the city’s continued economic growth, his administration’s fiscal discipline and significant savings in recent months.
“The next administration does not have to go and cut services if they want to add services, add employees, increase compensation, they’re going to have to find other sources of revenue,” Bloomberg said.
Mayor-elect Bill de Blasio’s agenda includes providing universal pre-kindergarten.
His plan is to tax high earners.
He will also have to negotiate contracts for the city’s nearly 300,000 public workers.
http://newyork.greatlocalnews.info/?p=17733
via Great Local News: New York http://newyork.greatlocalnews.info
No comments:
Post a Comment