Sentences with phrase «city reserve funds»

His aides said that extra spending would instead be offset by higher - than - anticipated tax revenues and, if necessary, city reserve funds that are, for the time being, amply stocked.

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.

The $ 18 million plunge into city reserves would leave that fund at about $ 27 million, which is about where it was when Miner took office in 2009.

The city has resorted to spending reserves and capital funds meant for repairs just to keep NYCHA running, he said.

Buffalo Comptroller Mark Schroeder speaks Tuesday in City Hall, warning of tough financial times ahead for the municipal government if it doesn't curb its habit of closing budget gaps by using reserve funds.

He made news recently by raising concerns about City Hall's budgeting practices, which have involved the use of reserve funds the past three years to balance the books.

The two administrations have also been at odds over education funding cuts and the amount of cash the city has in reserve.

De Blasio and the NYC Council agreed on an $ 82.1 billion budget for New York City that adds tens of millions in new spending for initiatives, including summer jobs for youths, after - school programs and reserve funds to help the city weather an economic downtCity that adds tens of millions in new spending for initiatives, including summer jobs for youths, after - school programs and reserve funds to help the city weather an economic downtcity weather an economic downturn.

As with last year's budget cycle, de Blasio has tried to ensure that city agencies are creating larger savings and reserve funds are being set aside for rainy day spending.

After the presentation, the City Council speaker, Melissa Mark - Viverito, a Democrat, issued a lukewarm statement, praising the buildup of reserve funds but criticizing the funding levels for programs aimed at young people and immigrants, as well as the plan for the city's hospitCity Council speaker, Melissa Mark - Viverito, a Democrat, issued a lukewarm statement, praising the buildup of reserve funds but criticizing the funding levels for programs aimed at young people and immigrants, as well as the plan for the city's hospitcity's hospitals.

«Reducing unnecessary spending allows the City to direct resources effectively and build larger reserves as New York City's economy shows signs of slowing and uncertainty remains around the future of federal funding,» wrote Riley Edwards, CBC research associate, in a blog post.

The risks are especially high, he said, with President Donald Trump's threats of funding cuts to the city and the inadequate cushion of city reserves.

The 2016 budget includes a $ 12.1 million projected deficit, which will need to be covered by the city's reserve fund.

Overall, he insists that the city's budget cushion — the reserves and surplus funds at the beginning of the fiscal year — should be between 12 and 18 percent of city expenditures.

Fortunately for taxpayers, the gap was filled be reserve funds, but city comptroller Mark Schroeder warns that there isn't much left of those reserve funds.

The Land Bank currently has $ 4 million in its reserve funds — money Common Councilors have said it could use to plug the hole left by the lack of city funds.

Why, as in... Why do Republican state senators upstate and on Long Island support sending tens of millions of dollars in new funding to New York City charters... instead of reserving that money for their own schools in places like Troy, Poughkeepsie and Plattsburgh?

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 city reserves stand at $ 3.9 billion, with $ 250 million added to the Retiree Health Benefits Trust fund before the final budget agreement.

But for the next year, given the city's fiscal crisis and pending reforms to city housing policies, I support keeping that $ 1.5 million in the city's reserve fund.

However, there are some concerns from within and outside the Council that the city budget is growing too quickly and that there is not enough being put aside in reserves, though rainy day funds are at their highest levels ever.

The $ 84.67 billion city budget that de Blasio introduced Tuesday did not have any «Trump - specific adjustments» but the city prepared for the possibility of losing federal funds by bolstering its reserves to more than $ 5 billion, the highest amount ever.

Mayor Bill de Blasio and City Council Speaker Melissa Mark - Viverito announced a $ 82.1 billion budget agreement for Fiscal Year 2017 at City Hall Wednesday afternoon, putting millions of additional dollars towards summer youth jobs, libraries and seniors while securing more money for the city's reserve fund and the citywide savings progCity Council Speaker Melissa Mark - Viverito announced a $ 82.1 billion budget agreement for Fiscal Year 2017 at City Hall Wednesday afternoon, putting millions of additional dollars towards summer youth jobs, libraries and seniors while securing more money for the city's reserve fund and the citywide savings progCity Hall Wednesday afternoon, putting millions of additional dollars towards summer youth jobs, libraries and seniors while securing more money for the city's reserve fund and the citywide savings progcity's reserve fund and the citywide savings program.

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.

To insulate the city against negative pressures from international markets and the widely foreseen economic slowdown, the mayor added more funds to existing city reserves.

The bulk of the money each year would be placed in a reserve fund to be allocated only if the city spends it, officials said.

New York City now has over $ 5 billion in overall reserves — the highest amount ever — but it is not enough to cover the more than $ 7 billion in federal aid that the city relies on to fight terrorism, provide affordable housing and fund the NYPD's anti-terrorism effoCity now has over $ 5 billion in overall reserves — the highest amount ever — but it is not enough to cover the more than $ 7 billion in federal aid that the city relies on to fight terrorism, provide affordable housing and fund the NYPD's anti-terrorism effocity relies on to fight terrorism, provide affordable housing and fund the NYPD's anti-terrorism efforts.

But despite the city's wariness about potential risks to the city's budget, de Blasio's spending plan does not increase the amount of money the city is setting aside in its reserves, funds set aside in the event of worst case budget scenarios.

That means city government will burn through its $ 60 million reserve fund in less than three years, unless new revenues come in or services are scaled back.

As mayor, my immediate priority would be to use $ 15 million to help balance the proposed 2017 - 18 city budget, which currently draws down $ 18 million from our fund balance reserves (rainy day fund).

The Council identified eight major priorities in its response: increased investment in city youth; investment in healthcare, education, jobs and legal services for immigrants; specific funding for the diverse communities; capital investment in infrastructure; creating a Rainy Day Fund and adding to existing reserves; baselining essential city services; expanding criminal justice, community support, and human services; and more accurately tracking city agency performance.

The Oklahoma City KIPP has about one - tenth of the same net assets / reserve funds as the Tulsa KIPP.

These expenses are coming at a time when the city has rapidly depleted its reserve fund for the city.

De Blasio and City Comptroller Scott Stringer announced a «goal» to sell the assets that its five pension funds hold in companies that own reserves of fossil fuels within five years.

«reserve fund» means a reserve fund established under section 417 of the Municipal Act, 2001 or section 7 or 8 of the City of Toronto Act, 2006, as the case may be; («fonds de réserve»)

(c) requiring the City to make payments into the reserve fund to fund all or part of a prescribed liability at the prescribed times and in the prescribed manner;

In addition to using the loan proceeds to acquire the property, the borrower will also use the funds to establish reserves and has secured a $ 2.5 million upsize option from Hudson, conditionally on obtaining certain approvals from the New York City Landmarks Preservation Commission.

Loan proceeds will be used to prepay Co-op City's current mortgage and complete capital projects currently underway, and for the first time provides for additional new reserves to address future capital needs, as well as to fund ongoing maintenance.