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
National

New Apple devices include default kill switch

By Marina LopesWASHINGTON (Reuters) - New Apple Inc phones include a theft deterrent system that enables users to lock their devices and wipe them clean…

National

PHOTO: Photographer comes face-to-face with deadly crocodile

A deadly crocodile comes face-to-face with a courageous photographer, who manages to take a set of jaw-dropping pictures of the teeth-baring reptile.

Local

Brooklyn packed for annual West Indian Day Parade

Brooklyn’s Eastern Parkway was packed Monday with an estimated one million people showing up on Labor Day to celebrate West Indian culture.

Local

James Michael Tyler on Gunther, Central Perk and…

We spoke with Gunther (James Michael Tyler) at the preview for new pop-up Central Perk, based on the cafe in "Friends."

Going Out

Where to eat and drink during Oktoberfest in…

Paulaner In the Bowery, this Bavarian restaurant/brewery will start the celebrations at 8 p.m. Saturday with the premiere of master brewer Andreas Heidenreich’s Oktoberfest brew.…

Going Out

Where to celebrate Oktoberfest in NYC

Germany is a land of contradictions — is there an explanation for how the same country produced lederhosen and Rammstein? But they all managed to agree…

Going Out

Things to do in NYC this weekend, Sept.…

BEHIND THE SCENES New York on Location Sept. 21, 11 a.m. Kaufman Astoria Studios 36 Street between 34 and 35 avenues, Astoria Free, www.movingimage.us Have…

Going Out

5 things to do in NYC this weekend,…

Eugene Mirman Comedy Festival Sept. 18-22, various times The Bell House, 149 Seventh St. Union Hall, 702 Union St. $10-$20, www.eugenemirmancomedyfestival.com In addition to the usual…

NFL

Eric Decker 'unlikely to play' against Bears: Source

Jets wide receiver Eric Decker's status for Monday night’s game against the Bears is in doubt after he missed practice again Wednesday.

NFL

Preston Parker, not Odell Beckham, will replace Jerrel…

Tom Coughlin noted the next man up will be unheralded veteran Preston Parker.

NFL

NFL Week 3 full schedule (kickoff time, TV)

NFL Week 3 full schedule (kickoff time, TV)

NFL

Fantasy football: Run with Knile Davis, Khiry Robinson,…

Fantasy football: Run with Knile Davis, Khiry Robinson, Donald Brown

Sex

Why don't more couples use condoms?

  Call it the “condom moment.” That’s the name the authors of a new study have given to the pivotal conversation every couple should be…

Sex

Need an idea for a first date? Here's…

Picture your idea of a nice first date. Is it dinner and a movie? A visit to an interesting museum exhibit? Instead, an expert on…

Career

Here's why the newly-crowned Miss America deleted her…

Miss America pageant winner Kira Kazantsev quietly deleted her LinkedIn profile this week after her work history came under attack by conservative critics. Many of the…

Career

Zosia Mamet explains why leaning in is not…

Zosia Mamet is living proof that even if you don't think you can get a job you're going for, you should still try. Along with…