Liu and Simcha Visit the Council
March 4th, 2010

And they’re back.

Well, not for good.

Comptroller John Liu and Deputy Comptroller Simcha Felder visited City Hall this afternoon to deliver the comptroller’s take on the mayor’s preliminary budget.

According to his testimony, Liu said revenue forecasts for this fiscal year could be better than the mayor’s projections, but beyond that it could get a lot worse.

“I am much more pessimistic about risks to the budget next year and beyond,” Liu states in his prepared remarks. “Our economic projections show slower growth in the out years of the financial plan period, resulting in more sluggish overall revenue growth.”

According to his testimony, Liu expects tax revenues to be $127 million less than the mayor’s projections in fiscal year 2011, which starts in July, and possibly $576 million less in fiscal year 2013.

The comptroller also released a larger assessment of the mayor’s proposal available here.

By on March 4, 2010, 4:30 pm
In category: City Hall,Economy,Electoral Politics,nextNY,Public Finance | Comments Off on Liu and Simcha Visit the Council

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