Following is a press release we just received from the Independent Budget Office, a nonpartisan city agency, announcing a report that looks at 60 ways to cut spending or increase revenue to plug the hole in the city's budget. We thought it was worth reprinting here. We'd love to hear your suggestions, too, on where the city might find some untapped revenue, and where it can cut. So comment away. Here's the release ...
The New York City Independent Budget Office today released the 10th annual edition of its Budget Options for New York City. The new edition includes more than 60 options for cutting costs and raising revenue, and provides pros and cons for each measure presented.
“Although New York City’s tax revenues may have started to rebound from the recession, the city still faces significant budget challenges,” said IBO Director Ronnie Lowenstein. “This volume, with its clear calculations of expected savings or revenues from dozens of budget options as well as the best arguments for and against each of the measures, can help policymakers and the public as they consider ways to address the city’s ongoing fiscal difficulties.”
Some of the options for annual savings and revenues presented for the first time include:
· Eliminating the parent coordinator position in public schools (saving $87 million)
· Asking the state to give the Metropolitan Transportation Authority, rather than the city, responsibility for administering civil service exams for NYC Transit and MTA Bridges and Tunnels employees (saving $4 million annually)
