TITLE

Despite Revenue Growth and an On-Time Budget, New Gaps Loom

AUTHOR(S)
O'Brien, Elizabeth
PUB. DATE
March 2006
SOURCE
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article provides an overview of the fiscal condition of New York. The state registered a stronger revenue in 2005 and an on-time budget. Moody's Investors Service's upgrading of the state's general obligation debt reflects its improving economy. Fitch analyst Richard Raphael comments on New York's wealthy and diverse economy. Meanwhile, to address the estimated $50 billion actuarial liability for health benefits, Mayor Michael Bloomberg has proposed setting aside $1 billion each from fiscal 2006 and 2007 into an irrevocable trust for retiree health benefits.
ACCESSION #
20409214

 

Related Articles

  • N.Y.C. Budget Balanced, But Gaps Loom. Phillips, Ted // Bond Buyer;7/28/2009, Vol. 369 Issue 33156, p1 

    The article reports on the 4.93 billion U.S. dollars gap in budget to be faced by New York City in the fiscal year 2010. During the 2009 annual meeting of the New York State Financial Control Board, Governor David Paterson claimed that the gap is less likely to be resolved in the future because...

  • Barron only 'No' vote on city budget. BARRON, CHARLES // New York Amsterdam News;7/7/2011, Vol. 102 Issue 27, p13 

    In this article the author discusses his decision of voting against the approval of the 66 billion U.S. dollars city project proposed by New York Mayor Michael Bllomberg.

  • Did we hit bottom yet? Massey, Daniel // Crain's New York Business;4/13/2009, Vol. 25 Issue 15, p1 

    The article discusses the possible stabilization of the economy, as seen in New York. The recession had seen in a decrease in company hirings, cuts in corporate and consumer spending and a drop in office rents. But recent development show businesses hiring again, credit market showing signs of...

  • Deficit swells. Harrington, John // Crain's New York Business;1/23/95, Vol. 11 Issue 4, p50 

    Reports on the deficit in the state budget of New York. Increase due to problems in banking, insurance and securities.

  • Mayor Proposes N.Y.C. Sales Tax Hike. Smith, Stephanie D. // WWD: Women's Wear Daily;5/4/2009, Vol. 197 Issue 93, p9 

    The article reports that New York mayor Michael Bloomberg wants to increase the New York City sales tax to 8.875 percent from 8.375 percent in an effort to balance the city's budget. In January 2009, Bloomberg proposed a repeal of the clothing tax exemption. It is stated that the sales tax hike...

  • Bloomberg: Pataki's One-Shot Revenues Are Inadequate. McKaig, Ryan // Bond Buyer;1/28/2003, Vol. 343 Issue 31561, p32 

    Discusses New York governor George E. Pataki's plans to refinance $1 billion in Battery Park City Authority bonds to aid New York City and views of New York City mayor Michael Bloomberg on the issue. Unique features of the proposed annual budget; Deficit in the budget for 2004; Insistence of...

  • N.YC.'s Bloomberg Calls for Agency Cuts. Phillips, Ted // Bond Buyer;1/25/2008, Vol. 363 Issue 32802, p1 

    The article reports on the presentation of a preliminary budget for fiscal 2009 by New York City Mayor Michael R. Bloomberg on January 24, 2008. The proposed budget calls for across-the-board agency cuts to $58.5 billion total expenditures from $60.36 billion in 2008. Of that budget, 38% will go...

  • N.Y.C.'s Bloomberg Calls for Cuts, Rescinding Property Tax Breaks. Phillips, Ted // Bond Buyer;11/6/2008, Vol. 366 Issue 32998, p36 

    The article reports that New York City Mayor Michael Bloomberg said that the city needs to reduce its government workforce and operating expenses and rescind property tax breaks to deal with growing deficits caused by falling revenue. Bloomberg said that New York City faces a $4-billion budget...

  • Hotel tax holds key to tourism.  // Crain's New York Business;5/2/2005, Vol. 21 Issue 18, p10 

    This article focuses on the hotel industry in New York. Some time this month, New York's mayor Michael Bloomberg will name a commission to come up with ways to encourage hotels like the Plaza to resist the temptation to convert to highly profitable condominiums. The mayor needs to launch a major...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics