Author Topic: PRELIMINARY FISCAL YEAR 2019 BUDGET.  (Read 664 times)

Offline 68jk09

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PRELIMINARY FISCAL YEAR 2019 BUDGET.
« on: February 07, 2019, 07:05:27 PM »
https://www1.nyc.gov/assets/omb/downloads/pdf/sum2-18.pdf

Nycfire.net

PRELIMINARY FISCAL YEAR 2019 BUDGET.
« on: February 07, 2019, 07:05:27 PM »

Offline 68jk09

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Re: PRELIMINARY FISCAL YEAR 2019 BUDGET.
« Reply #1 on: February 07, 2019, 07:07:17 PM »
This was aired this afternoon in a one hour news conference held by the mayor & the OMB director i watched it on NY1 News ....he did not mention closing Companies .....he said "no reduction in First Line Services" but did say ALL agencies would have to show a reduction in spending (from somewhere) something like a plan to save 750 million by April 2019 by all agencies together.....in response to questions he stated something along the lines of under performing or more needy agencies would see a bigger cut of the pie (NYCHA ?).....lot's of giveaways mentioned also.


« Last Edit: February 08, 2019, 01:01:10 AM by 68jk09 »

Offline manhattan

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Re: PRELIMINARY FISCAL YEAR 2019 BUDGET.
« Reply #2 on: February 07, 2019, 11:06:29 PM »
Should we read into this that there are no plans for additional fire, police or EMS coverage for places like Hudson Yards, Manhattan West, Amazon in L.I.C and that no new, full-service hospitals and Trauma Centers will be built in mega-over-developed areas?

The Bloomberg legacy lives on and takes its toll.

Offline 68jk09

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Re: PRELIMINARY FISCAL YEAR 2019 BUDGET.
« Reply #3 on: February 08, 2019, 12:45:42 AM »
^^^^^  That is a good question....no closings but will there be openings ?

Offline 68jk09

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Re: PRELIMINARY FISCAL YEAR 2019 BUDGET.
« Reply #4 on: February 08, 2019, 01:01:24 AM »
wsj.com
De Blasio’s Budget Calls for Cost-Savings, Hiring Freeze at City Agencies
Katie Honan
4-5 minutes

New York City Mayor Bill de Blasio on Thursday presented a $92.2 billion budget that would continue to expand spending, while calling for a citywide cost-savings program, implementing a hiring freeze and warning that tax revenue will fall short.

Even as spending grows by $3 billion, the two-term Democratic mayor said every city agency would have to make cuts, with a goal of finding $750 million in savings by April. It is the first time in Mr. de Blasio’s six budgets that he will institute a citywide program to eliminate costs at each agency.

Personal income tax reductions are the biggest threat to the city’s budget, the mayor said. (thanks to the Exodus, and the massive increase in welfare recipients)  He projects the personal income tax revenue to be down $935 million this year compared with last year. The state saw a reduction of $2.3 billion this year and is estimating $1.6 billion less next year.

Other tax streams, including the general corporation and mortgage-recording tax, were higher, the comptroller’s office said. Those increases, however, aren’t near the projected loss in personal income tax.

“We have some tough choices up ahead under any scenario,” Mr. de Blasio said during a City Hall presentation.

The swings in the stock market, especially in December of 2018, contributed to the lower tax revenue, the mayor said.

“The national economy is at a point that is uncertain (??); we are seeing the impact of that reality on our revenue already,” he added.

The risks to the city’s finances also come from the federal and state government, with looming threats of another federal government shutdown, trade-policy changes and market volatility, the mayor said.

The state’s budget includes $600 million in cuts to the city, including a $300 million reduction to education funding and a $125 million trim to a program to assist families in need.

To save money, Mr. de Blasio said he is ordering a hiring freeze at city agencies, and open jobs won’t be filled in the near future. The savings will come mostly through the hiring freeze, the mayor’s office said. Small changes and adjustments at every city agency, however, will contribute to the bottom line, officials noted. For example, the city clerk’s office will save $176,000 by delaying digitizing historical archives.

The Department of Sanitation will bring in an estimated $15 million during 2019 and 2020 by realizing additional revenue connected to the sale of credits for landfill gas collected at Fresh Kills Landfill on Staten Island.

The city will continue to spend on vital services that keep the city safe, Mr. de Blasio said. Investments in public safety have made New York the safest big city in the country, he added.

The city increased its health-care costs of $25 million for this fiscal year, and will increase costs to $100 million by fiscal year 2022. This will pay for health insurance for 600,000 uninsured New Yorkers. City Hall also committed $106 million to the half-price MetroCard program known as “Fair Fares.”

The budget continues to fund the city’s investment in preschool programs—universal pre-K and the 3-K program for 3-year-olds, increasing the number of districts with the 3-K program to 14 by September 2020.

City Council Speaker Corey Johnson, a Democrat, said after the budget presentation that he wouldn’t support cuts to vital social services or programs that help everyday New Yorkers. “Our city’s budget has grown by $3 billion in one year. There is plenty of money,” he said. “It’s how we spend the money, it’s how we prioritize the money, it’s how we invest that money.”

Comptroller Scott Stringer, a Democrat, said he has suggested agency cuts for years and is happy to see Mr. de Blasio initiate them. Mr. Stringer previously has suggested cost reductions at each agency, with the mayor and City Council pushing commissioners to reduce bureaucracy.

“I think that will further protect the most vulnerable people in this city because the more money we put away the more money we save for a rainy day,” he said before the budget announcement.

The preliminary budget will get final approval in June after negotiations between the mayor and City Council.

Write to Katie Honan at Katie.Honan@wsj.com

 

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