March 5, 2013. Part I of the budget briefing on Mayor Bloomberg’s Preliminary FY 2014 NYC Budget makes the following points:
- Unemployment remains very high in this historically weak “recovery.” NYC job growth better than the U.S., but considerable hardships persist.
- NYC tax revenues have rebounded, but federal and state aid share declined.
- State budget choices and pressures continue to squeeze NYC.
- City-funded expenditures projected to increase 3.4% in FY 2014, with increases in debt service and health insurance. Most agency budgets are cut.
- Over the past five years, in the midst of the Great Recession and its aftermath, NYC inflation-adjusted spending on Human Services has fallen by 8%.
In Part II, a forward-looking, 4-part NYC budget agenda is presented:
• Combat poverty to reduce the city’s pronounced income polarization;
• Use city resources to more strategically invest in human and physical capital;
• Enhance overall progressivity of the city tax structure; and
• Work with the city workforce to enhance service delivery and to improve productivity to help settle expired collective bargaining contracts.