Fiscal Intelligence

Fiscal analysis that enables educators, small business owners, and community organizers to make informed decisions.

Review of the Financial Plan of the City of New York

Over the past decade, City funding for education has more than doubled, rising from $6.2 billion in FY 2003 to $13.2 billion in FY 2013.

The May Plan assumes that the Department of Education (DOE) will reduce planned spending by a total of $1.2 billion during the financial plan period. This represents 40 percent of the total value of the agency program, which is greater than the DOE’s share of the City-funded budget. The majority of the savings would come from re-estimates of the cost of special education ($672 million) and from non-classroom efficiencies ($368 million). The DOE also intends to raise the price of school lunches by $1.00 for students whose families’ incomes exceed 185 percent of the poverty level.

TAXI MEDALLIONS – Decision upholds constitutionality of state law

 

Oral arguments were heard on April 24, 2013, and the Court issued a ruling in early June. The ruling was in the City’s favor. Therefore, the first sale of taxi medallions is planned for the fall of 2013.

<div style=”margin-bottom:5px”> <strong> <a href=”http://www.slideshare.net/LuisTaverasMBAMS/decision-upholds-constitutionality-of-state-law&#8221; title=”TAXI MEDALLIONS – Decision upholds constitutionality of state law” target=”_blank”>TAXI MEDALLIONS – Decision upholds constitutionality of state law</a> </strong> from <strong><a href=”http://www.slideshare.net/LuisTaverasMBAMS&#8221; target=”_blank”>Luis Taveras MBA, MS</a></strong> </div>

Hotspots 2025

The costs of living and doing business in New York City are high, but not as high as in some others, including London and Tokyo, Mr. Abruzzese said. New York’s most glaring weakness has been in the management of the environment and preparation to cope with storms and other natural disasters, he said. (The New York Times)

2013 Edelman Trust Barometer Finds a Crisis in Leadership

Initiative to Transform University Communities into Magnets for New Businesses and Investment

Governor Andrew M. Cuomo today unveiled “Tax-Free NY,” a game-changing initiative that will transform SUNY campuses and university communities across the state into tax-free communities that attract start-ups, venture capital, new business, and investments from across the world.

Scheme to set artificially high ebook prices orchestrated by Steve Jobs

The US government’s price-fixing lawsuit against Apple goes to trial next month in New York. Ahead of its court date, the US released emails that purport to show Apple was the “ringleader” in a scheme to set artificially high ebook prices with some of the largest American publishers, which have already settled the case.

Bernanke’s Testimony to Congress

Most recently, the strengthening economy has improved the budgetary outlooks of most state and local governments, leading them to reduce their pace of fiscal tightening. At the same time, though, fiscal policy at the federal level has become significantly more restrictive. In particular, the expiration of the payroll tax cut, the enactment of tax increases, the effects of the budget caps on discretionary spending, the onset of the sequestration, and the declines in defense spending for overseas military operations are expected, collectively, to exert a substantial drag on the economy this year. The Congressional Budget Office (CBO) estimates that the deficit reduction policies in current law will slow the pace of real GDP growth by about 1-1/2 percentage points during 2013, relative to what it would have been otherwise.

<div style=”margin-bottom:5px”> <strong> <a href=”http://www.slideshare.net/LuisTaverasMBAMS/bernanke20130522a&#8221; title=”Bernanke's Testimony to Congress” target=”_blank”>Bernanke's Testimony to Congress</a> </strong> from <strong><a href=”http://www.slideshare.net/LuisTaverasMBAMS&#8221; target=”_blank”>Luis Taveras MBA, MS</a></strong> </div>

The Taylor Law

The Taylor Law (particularly the Triborough Amendment provision) expires on July 1st. What should Gov. Cuomo do?

The so-called Triborough Amendment, passed in 1982, prohibited public employers from “refus[ing] to continue all the terms of an expired agreement until a new agreement is negotiated” unless – importantly – the union went on strike.

 

The Pension Pain

Budget Options for NYCDOE