As required under the New York City Charter, this report provides IBO’s review of the
Mayor’s Preliminary Budget for 2012 and Financial Plan through 2015. The reportpresents our own economic and revenue forecasts and examines some of the Mayor’s
key budget proposals.
As we have for the past 10 years, IBO will also produce a companion volume to this
Budget Options for New York City
. The budget options report will be released
within the coming weeks. As in past years, the new edition will present dozens of waysto reduce spending or increase revenue. For each measure presented, IBO will offerpros and cons and provide an impartial estimate of the potential savings or revenue.A note on format: unless otherwise indicated, all years refer to the city’s scal year,which runs from July 1 to June 30.This report is crafted through the hard work and dedication of much of IBO’s staff. Thenames and areas of responsibility of IBO’s team of budget analysts and economistswho contributed to this report are included at the end of this volume. The report isproduced under the direction of Supervising Analysts Ana Champeny, Ray Domanico,Michael Jacobs, and Paul Lopatto, and Assistant Deputy Director Ana Ventura withguidance from Deputy Directors Frank Posillico and George Sweeting. Tara Swansoncoordinated production and distribution and Elizabeth Brown and Doug Turetskyprovided editorial assistance.