Sentences with phrase «city general reserve»

The city general reserve is at $ 1 billion, far higher than past levels, and there are other savings set aside for the city's capital plan ($ 500 million) and retiree health benefits ($ 4 billion).

Not exact matches

The draft audit notes that the city's goal had been to maintain an unrestricted fund balance (sometimes referred to as a reserve fund) of 5 percent of its total general fund budget.

It's stashing another $ 1 billion in a general reserve and $ 500 million to provide additional security for the city's capital plan.

But the budget was also notable for what was not included — mainly, the City Council Fair Fares plan, which would provide reduce priced MetroCards for low - income New Yorkers, a $ 400 million property tax rebate and an increase in the general reserve fund.

The agreement also includes money set aside for the city's reserves, an additional $ 250 million for the Retiree Health Benefits Trust Fund and $ 1 billion every year for the General Reserve, all meant to protect the city in the event of an economic downturn.

It contributes significant revenues to the City's general reserves while successfully meeting its mandate to provide safe, attractive, conveniently located and competitively priced off and on - street public parking, required by commercial strips and neighbouring residential areas to survive.