City announces balanced budget for 2014

City Council Speaker Christine Quinn speaking at the announcement of the FY14 budget. Credit: nyc.gov
City Council Speaker Christine Quinn speaking at the announcement of the FY14 budget. Credit: nyc.gov

The city’s next mayor got a clearer picture this evening of what he or she will inherit on January 1, 2014, as Mayor Michael Bloomberg and the New York City Council announced the finalized budget for the next fiscal year.

The budget comes balanced and on time, an achievement Bloomberg credited to “the skillful leadership of [City Council Speaker] Christine Quinn.” Bloomberg also acknowledged Financial Committee Chair Dominic Recchia, in an off-the-cuff nod that prompted hooting and clapping from Recchia’s colleagues in the Council.

Recchia said the obstacles faced in coming up with this budget—”one natural, Superstorm Sandy, and one manmade, the federal sequestration”—brought everyone to the table ready to work hard and make necessary sacrifices.

The budget includes an additional $58 million for the New York City Housing Authority, which Bloomberg noted lost federal funding due to sequestration. Bloomberg took the opportunity to slam federal legislators for a “shameful” performance in abandoning those most in need.

The budget increased funds to the public library system, which lawmakers promise will allow for city libraries to remain open, on average, more than five days a week systemwide.

The mayor’s storm preparation proposals have been fully funded at $250 million, with approximately $100 million going to infrastructural investments by city agencies, and the remaining funding specific projects in high-risk areas like Staten Island and the Rockaways.

While this 2014 budget is balanced, the city, and its next mayor, faces a budget gap of approximately $2 billion in 2015.

Follow Danielle Tcholakian on Twitter @danielleiat



News
Entertainment
Sports
Lifestyle
Local

FDNY debuts new fire simulator for blazes at…

The New York City Fire Department christened its newest, state-of-the-art, custom-built simulator at its training academy on Randall's Island Tuesday.

Local

Bronx cop saves baby who stopped breathing

A Bronx police officer is credited with saving the life of a 2-month-old baby who stopped breathing Tuesday morning. Police Officer Johnny Castillo, 38, was…

Local

Brewer celebrates Women's Equality Day with voter pledge

Manhattan Borough President Gale Brewer celebrated Women’s Equality Day Tuesday by pledging to register at least five women voters before the Oct. 10 deadline. Brewer…

Local

NYPD looking for lewd D train rider

The NYPD is enlisting the public’s help to find a man they say performed a lewd act on the D train Saturday evening. The incident…

Television

'Pretty Little Liars' recap: Season 5, Episode 12,…

If you've wondered whether Ali and Bethany knew each other, you got an answer tonight: Yes, and in a very tangled way. But many lingering…

Entertainment

Cymbals Eat Guitars Have Everything to 'LOSE'

At its most basic level, a rock band can be thought of as a family, a group of people selflessly devoted to a cause. When…

Entertainment

"Bachelor in Paradise" recap: Episode 4, 'Week Four'

Some things are hard to watch in a “Human Centipede” sort of way. Other things in an “American History X” sort of way. Does “Bachelor…

Movies

Fall Movie Preview: 10 films to see this…

Despite being awards season, the next four months bring a glut of remakes, rehashes and sequels. Here are 10 that should be better worth your time.

College

When are 2014 college football playoffs? (Schedule, date,…

When and where are 2014 college football playoffs? A look at the schedule, date, TV, time for the semi-finals at championship game.

NFL

Dimitri Patterson suspended only for rest of preseason…

Dimitri Patterson ended up getting just a slap on the wrist.

Sports

Eugenie Bouchard excited for 'rowdy' fans at US…

Eugenie Bouchard is sure to endear herself to New York's tennis faithful as she tries to win her first grand slam title across the next two weeks.

MLB

MLB Power Rankings: Angels and A's still at…

MLB Power Rankings: Angels and A's still at top, Nationals climb

Wellbeing

Who is having the most orgasms?

  Single lesbians report having orgasms more often than heterosexual women but both gay and straight men still come out on top of the climax…

Home

Jonathan Adler shares his tips for a great…

Jonathan Adler took a break from boogie boarding at his beach house to tell us how to keep that Labor Day party festive.

Travel

Most popular Labor Day weekend destinations

Priceline.com released its Top 20 destinations for the end of summer, including Labor Day weekend. If you’re heading to any of these spots, expect a…

Wellbeing

Working your way to type 2 diabetes: Job…

When it comes to type 2 diabetes, a stressful job can be as risky for your health as a bad diet and no exercise. A…