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.

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  • budget icon, source: GAO

    U.S. Territories:

    Public Debt Outlook
    GAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

Sep 20, 2017

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Dec 20, 2016

Dec 8, 2016

  • budget icon, source: GAO

    State and Local Governments' Fiscal Outlook:

    2016 Update
    GAO-17-213SP: Published: Dec 8, 2016. Publicly Released: Dec 8, 2016.

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