New York City's Financial Situation

GGD-77-61: Published: Jun 13, 1977. Publicly Released: Jun 13, 1977.

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The proposed $1.3 billion increase in New York City's 1978 budget level runs counter to planned reductions in spending.

The major increase in expenditures (about $1 billion) was made possible by increases in Federal and State aid. This change was not fully analyzed because: the city estimates in the 1978 plan were not as detailed as those in its executive budget; changes were made in the accounting system; and the modified plan did not specify how the projected budget gap of $433 million in 1978 would be eliminated. Despite these difficulties, the major revenue and expense variances were identified and were confirmed with the city's Office of Management and Budget.

Sep 23, 2020

Jan 23, 2020

Dec 19, 2019

  • budget icon, source: GAO

    State and Local Governments' Fiscal Outlook:

    2019 Update
    GAO-20-269SP: Published: Dec 19, 2019. Publicly Released: Dec 19, 2019.

Nov 14, 2019

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Feb 27, 2019

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