• HOME :
  • NEWS :
  • DINAPOLI: NYC FORECASTS $965 MILLION SURPLUS FUELED BY FEDERAL AID

DiNapoli: NYC forecasts $965 million surplus fueled by federal aid

JANUARY 11, 2022 | by Press Release | OFFICE OF THE NEW YORK STATE COMPTROLLER

Press release, includes “New York City forecasts a surplus of $965 million in the fiscal year ending in June 2022 (FY 2022), based largely on the receipt of $750 million in unrestricted federal aid, and projects outyear gaps to drop by nearly a third from earlier estimates, according to a report released today by State Comptroller Thomas P. DiNapoli. … DiNapoli has identified risks that could increase city spending by $2.3 billion in FY 2023 … The city has used federal aid to fund new recurring expenses that could add costs of more than $1 billion in FY 2026, outside of the financial plan period.”

VIEW LESS