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The Long-Term Fiscal Outlook for New York City

PAD-77-1 Published: Apr 04, 1977. Publicly Released: Apr 04, 1977.
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Highlights

In early 1975, budgetary crises necessitated both state and federal intervention to maintain New York City's financial operations. An Emergency Financial Control Board was created, giving the state an active role in city affairs, and federal loans of $2.3 billion were authorized.

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Budget and Spending
BankruptcyCollective bargainingEconomic policiesFederal aid programsFederal aid to citiesFinancial managementMunicipal budgetsPensionsSchoolsTaxes