Annual State of the City’s Economy and Finances 2024

1 day ago · III. The State of the City’s Finances The City’s Financial Position. The Annual Comprehensive Financial Report (ACFR) for FY 2024 shows that the City government’s …

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New York By The Numbers - Office Of The New York City …

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Aug 13, 2024 · New York City’s Cash Balances. As of August 6, 2024, the City’s central treasury balance stood at $9.3 billion, compared to $12.4 billion at the same time in FY 2024. The June …

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FAQs about Annual State of the City’s Economy and Finances 2024 Coupon?

What does the Comptroller's Office report say about the city's economy?

The Comptroller’s Office recently released its Annual Report on Capital and Debt Obligation, which provides how the City finances these critical infrastructure projects. Overall, the outlook for the City’s economy is one of stability following the recovery from the pandemic-induced recession and the uncertainty of just one year ago. ...

How much revenue will the city expect in FY 2024?

Based on the City’s November Plan and current collections, the Comptroller’s Office expects total miscellaneous revenue will be above the City’s forecast by $84 million in FY 2024, $173 million in FY 2025, $166 million in FY 2026 and $116 million in FY 2027. The offset derives from fine revenues and interest income. ...

How much money will city government spend in FY 2026 & 2027?

Over the remainder of the Plan, funding for the department would rebound to $32.08 billion in FY 2026 and $32.74 billion in FY 2027, reflecting growth only in City funds as Federal and State support are projected to decline modestly in the final two years of the Plan. ...

What does the Comptroller's Office estimate for FY 2024?

The Comptroller’s Office restates the City’s gaps based on its own estimates of revenues and expenditures; the Office estimates risks, which increase City gaps, and offsets that reduce them, as shown in Table 17. Based on these risks and offsets, the Comptroller’s Office estimates that FY 2024 will end with a small surplus of $517 million. ...

How much will the state budget impact the city?

On a net basis, OSC estimates that the State budget will have a positive fiscal impact to the City of $818 million in FY 2024 and $1.4 billion in FY 2025 (see Figure 7). The June Plan incorporates most of this budget impact and assumes the City will receive $19.4 billion in total State categorical aid in FY 2025. ...

How much does the city budget allocate to the DOE?

The City’s adopted budget allocates just over $40 billion to the DOE in FY 2025, including centrally administered costs, such as pensions. This amounts to 35.6 percent of the City’s total budget and is a $154 million increase over projected spending in FY 2024, despite a decline of $2.4 billion in federal aid. ...