Professional Documents
Culture Documents
Preliminary Budget
Fiscal Year 2018
Bill de Blasio, Mayor
Office of Management and Budget
Dean Fuleihan, Director
Financial Plan
Summary
Transformative Investments
2,000 more officers on the street; Neighborhood
Policing
Most affordable housing funded in 25 years
Universal full day Pre-K for 70,000 students
3
JanFY18
4
JanFY18
5
JanFY18
6
JanFY18
Moody's on Citys Credit Rating (December 2016); Moodys Issuer In-Depth (January 23, 2017)
7
JanFY18
Historic Reserves
Capital Stabilization Reserve: $250 million a year over four years
Highest ever achieved. This reserve was first created by this
Administration.
8
JanFY18
ECONOMIC OUTLOOK
11
JanFY18
12
JanFY18
13
JanFY18
ECONOMIC OUTLOOK
15
Source: Oxfam
17
JanFY18
18
JanFY18
19
250
200
150
100
50
NYC
GA
NC
WA
CO
IL
OH
MI
TN
MA
AZ
OR
21
JanFY18
U.S.
Construction
Leisure and Hospitality
Professional and Business Services
Education and Health
Other Services
Information
Financial Activities
Trade, Transportation, and Utilities
Manufacturing
Total
0%
5%
10%
15%
20%
22
JanFY18
5.1%
5%
4.9%
3.7%
4%
3%
2%
1.2%
1%
0%
Brooklyn
Source: NYC Department of City Planning.
Bronx
Queens
Manhattan
Staten Island
23
JanFY18
Calendar Years
24
JanFY18
25
JanFY18
From the prior peak in 2007 to 2015, nearly 50% of employment and wage gains have
come from Education, Health, and Technology industries.
Non-Securities Wage Earnings Share of Total (%)
84%
81.9%
82%
80%
78%
76%
74%
72%
70%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016f
Calendar Years
Source: New York State Department of Labor (QCEW), NYC OMB.
f = Forecast
26
JanFY18
27
29
JanFY18
30
JanFY18
31
JanFY18
32
JanFY18
33
JanFY18
34
JanFY18
35
JanFY18
37
JanFY18
Other Highlights
NYCHA Roof Repairs
Investing $1 billion to replace 729 roofs at NYCHA buildings
across the city.
38
JanFY18
Other Highlights
Schools Out NYC (SONYC) Summer
39
JanFY18
41
FY 2017
FY 2018
FY 2019
FY 2020
FY 2021
$---
($2,241)
($2,889)
($2,376)
($2,104)
Revenue Changes:
Tax Revenues
Non-Tax Revenues
$365
399
($183)
(96)
$8
(110)
$329
(10)
$425
274
$764
($279)
($102)
$319
$699
$263
(515)
(700)
(500)
(400)
$427
(581)
--250
---
$403
(331)
--250
---
$529
(326)
--250
---
$445
(307)
--250
---
($1,852)
$96
$322
$453
$388
$2,616
($2,616)
($3,313)
($2,510)
($1,793)
(2,616)
2,616
---
---
---
$---
$---
($3,313)
($2,510)
($1,793)
43
JanFY18
Revenues
FY 2017
FY 2018
FY 2019
FY 2020
FY 2021
Taxes
General Property Tax
Other Taxes
Tax Audit Revenue
Subtotal: Taxes
Miscellaneous Revenues
Unrestricted Intergovernmental Aid
Less: Intra-City Revenue
Disallowances Against Categorical Grants
$24,196
29,646
1,041
$25,629
30,556
850
$27,292
31,712
721
$28,618
33,079
721
$29,929
34,208
721
$54,883
$57,035
$59,725
$62,418
$64,858
6,835
57
(2,039)
200
6,362
--(1,786)
(15)
6,602
--(1,781)
(15)
6,804
--(1,787)
(15)
6,807
--(1,787)
(15)
$59,936
$61,596
$64,531
$67,420
$69,863
$33,954
20,542
6,123
(4,038)
3,055
--300
$36,295
20,788
6,318
--(3,055)
250
1,000
$38,582
20,969
7,043
----250
1,000
$40,221
20,750
7,709
----250
1,000
$41,477
20,801
8,128
----250
1,000
$59,936
$61,596
$67,844
$69,930
$71,656
$---
$---
($3,313)
($2,510)
($1,793)
Expenditures
Personal Service
Other Than Personal Service (1)
Debt Service (1),(2)
FY 2016 Budget Stabilization and Discretionary Transfers (1)
FY 2017 Budget Stabilization (2)
Capital Stabilization Reserve
General Reserve
Total Expenditures
Gap To Be Closed
(1) Fiscal
Year 2016 Budget Stabilization and Discretionary Transfers total $4.038 billion, including GO of $1.760 billion, TFA-PIT of $1.734 billion, lease debt service of $100 million, net equity contribution in bond refunding of
million,
andBudget
subsidies
of $400
million.
(1)$44
Fiscal
Year 2016
Stabilization
and
Discretionary Transfers total $4.038 billion, including GO of $1.760 billion, TFA-PIT of $1.734 billion, lease debt service of $100 million, net equity contribution in bond refunding of $44 million, and subsidies of
(2) Fiscal Year 2017 Budget Stabilization total $3.055 billion, including GO of $1.146 billion and TFA-PIT of $1.909 billion.
.
$400 million.
44
(2) Fiscal
Year 2017 Budget Stabilization totals $3.055 billion, including GO of $1.146 billion and TFA-PIT of $1.909 billion.
JanFY18
Revenues
FY 2017
FY 2018
FY 2019
FY 2020
FY 2021
Taxes
General Property Tax
Other Taxes
Tax Audit Revenue
Subtotal: Taxes
Miscellaneous Revenues
Unrestricted Intergovernmental Aid
Less: Intra-City Revenue
Disallowances Against Categorical Grants
$24,196
29,646
1,041
$54,883
6,835
57
(2,039)
200
$25,629
30,556
850
$57,035
6,362
--(1,786)
(15)
$27,292
31,712
721
$59,725
6,602
--(1,781)
(15)
$28,618
33,079
721
$62,418
6,804
--(1,787)
(15)
$29,929
34,208
721
$64,858
6,807
--(1,787)
(15)
$59,936
980
655
8,826
14,417
$61,596
856
658
7,012
14,546
$64,531
847
658
6,811
15,008
$67,420
837
595
6,809
15,404
$69,863
833
593
6,781
15,718
Total Revenues
$84,814
$84,668
$87,855
$91,065
$93,788
$25,829
9,413
9,606
$44,848
$27,316
9,819
10,258
$47,393
$28,796
10,100
10,981
$49,877
$29,634
10,152
11,920
$51,706
$30,222
10,170
12,701
$53,093
$5,915
1,584
28,801
$36,300
6,388
(4,038)
3,055
--300
$86,853
(2,039)
$84,814
$---
$5,915
1,594
26,776
$34,285
6,581
--(3,055)
250
1,000
$86,454
(1,786)
$84,668
$---
$5,915
1,605
27,001
$34,521
7,301
----250
1,000
$92,949
(1,781)
$91,168
($3,313)
$5,915
1,617
26,914
$34,446
7,960
----250
1,000
$95,362
(1,787)
$93,575
($2,510)
$5,915
1,617
27,121
$34,653
8,372
----250
1,000
$97,368
(1,787)
$95,581
($1,793)
Expenditures
Personal Service
Salaries and Wages
Pensions
Fringe Benefits
Subtotal: Personal Service
Other Than Personal Service
Medical Assistance
Public Assistance
All Other (1)
Subtotal: Other Than Personal Service
Debt Service (1),(2)
FY 2016 Budget Stabilization and Discretionary Transfers (1)
FY 2017 Budget Stabilization (2)
Capital Stabilization Reserve
General Reserve
Subtotal
Less: Intra-City Expenses
Total Expenditures
Gap To Be Closed
(1) Fiscal
45
(2) Fiscal
JanFY18
Year 2016 Budget Stabilization and Discretionary Transfers total $4.038 billion, including GO of $1.760 billion, TFA-PIT of $1.734 billion, lease debt service of $100 million, net equity contribution in bond refunding of $44 million, and subsidies of
$400 million.
Year 2017 Budget Stabilization totals $3.055 billion, including GO of $1.146 billion and TFA-PIT of $1.909 billion.
Inter-Fund
Revenues
1
Prior Year
Resources
3
Federal
Categorical Grants
8
Education
35
Other Taxes
and Local Revenues
41
All Other
Agencies
12
State Categorical
Grants
17
Other
Categorical
Grants
1
(1) Reflects
(2) Includes
Higher
Education
1
General
Property Tax
29
Miscellaneous
Budget (2)
6
Fire
5
Social Services
18
Administration
of Justice
15
the allocation of Fringe Benefits, Pensions and Debt Service to the agencies. Excludes the impact of prepayments.
Labor Reserve, General Reserve, Capital Stabilization Reserve, Judgments and Claims, MTA Subsidies and Other Contractual Services.
Health
3
Environmental
Protection
5
46
JanFY18
47
$83.3 Billion
$65.8 Billion
$17.5 Billion
$6.3 Billion
Federal
$3.5 Billion
State
$2.7 Billion
$0.1 Billion
$89.6 Billion
49
JanFY18
Debt Service as a
Percent of Tax Revenues
20%
Actuals
Planned
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27
Fiscal Year
50
JanFY18
16%
Sanitation
Mass Transit
3%
20%
$14.7
Infrastructure
40%
1%
$2.8
$0.7
20%
Schools
24%
Schools
23%
Government
21% Operations
27%
Education
Housing
10%
6%
Housing
$9.2
Administration of Justice
$5.3
Correction
Courts
Police
$3.3
$3.1
$2.9
$2.8
$1.9
$20.8
Public Buildings
Fire
Culturals and Libraries
Social Services
$1.9
$1.8
$1.6
$18.4
$1.4
$1.2
$1.0
$0.8
51
JanFY18