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

DA: Homeless man severely beat by men in…

Two former college football players pleaded not guilty to the alleged severe beating of a homeless man in Allston earlier this year.

National

Hamas, Abbas's PLO announce reconciliation agreement

The Gaza-based Islamist group Hamas and President Mahmoud Abbas's Palestine Liberation Organization (PLO) agreed on Wednesday to a unity pact.

Local

Reports: Dead man pulled from water at Boston's…

A dead man was reportedly pulled from the water at Boston's Long Wharf Wednesday afternoon, according to the Boston Fire Department.

Local

Primark to make US debut in Boston

Dublin retailer Primark will make its U.S. debut with a store at the former Filene's site in Boston.

Going Out

Thursty: Revamped Audubon is back in action

Having been a long time fan of Trina's Starlite Lounge in Inman Square, one of my only complaints about the place is that there's only…

Entertainment

Here's what to do in Boston this weekend

MUSIC Huun Huur Tu Friday, 8 p.m. First Church in Cambridge 11 Garden St., Cambridge $28, 617-876-4275 www.worldmusic.org This group comes from the tiny nation…

Television

TV watch list, Wednesday, April 23: 'Suburgatory,' 'Modern…

'Suburgatory' The men of "Suburgatory" go camping and Tessa mentors a social outcast in a Miss Chatswin contest, which brings her, once again, into conflict…

The Word

The best lines from Oprah's ex-stepmother's Daily Mail…

Oprah’s ex-stepmother, Barbara Winfrey, is out for revenge.

NHL

Bruins - Red Wings Game 4 preview: Boston…

Bruins - Red Wings Game 4 preview: Boston greedy for more dominance

MLB

Fantasy baseball: Searching for early season prospects

It’s relatively rare for a mediocre 30-year-old hitter to suddenly go nuts offensively for 162 games. That’s why minor league prospects are so exciting.

U.S. Soccer

NYCFC 'targeting' US international Mix Diskerud

Metro New York has learned Mix Diskerud has drawn “interest” from the expansion MLS side, NYCFC.

MLB

Statistics show plate approach for Red Sox has…

Statistics show plate approach for Red Sox has been off so far in 2014

Style

Pippa Middleton's Etsy pick: Golden Thread Jewelry

Get a look at the jewelry Pippa Middleton loves and find out how you can buy it too.

Parenting

What every parent needs to know to get…

Mom and author of "Small Talk," Tracey Blake, shares her five practical tips to help you develop your children's language skills.

Sex

Subway crush: Meet your soulmate on your commute

Read about a couple who has been 40 years after meeting on the train.

Tech

Happy birthday, Game Boy! The handheld console turns…

Nintendo's Game Boy turns 25 this week. To commemorate, we look at some of its better games, like "Tetris" and "The Legend of Zelda: Link’s Awakening."