Gotham Gazette

The Place for New York Policy and politics

Financial Control Board

Financial Control Board

  • fy202 eb

    Mayor de Blasio (photo: Michael Appleton/Mayoral Photography)


    As required by the state Financial Control Act, last Monday Mayor de Blasio presented a modification of New York City’s current fiscal year budget and four-year financial plan. This “first quarter mod” is usually a no-drama, technical adjustment that makes few substantive changes to the budget adopted at the

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  • exec blr

    (photo: Edwin J. Torres/ Mayoral Photo Office)


    Despite a full-court press from cities and states across the country, Congress left for August recess without passing joint legislation to provide them with federal financial assistance. This aid is desperately needed by localities, both red and blue, that have suffered dramatic revenue losses due to the shutdown of much of their economies during the pandemic. There is still hope that some amount of aid will eventually be forthcoming, but not in time or in sufficient amount to address the dire needs of New York City and State.

    While

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  • cuomo exec budget pres 2014

    Governor Cuomo presents his 2014-2015 Executive Budget


    In 1975 New York City was teetering on the edge of bankruptcy, having balanced its budget for years with massive borrowing and shady accounting tricks. Banks were at the point where they would lend no more. Mayor Abe Beame had written the announcement of the city's default. City lawyers were in State Supreme Court filing a petition for bankruptcy and police were prepared to serve

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