It is typically around 60% of gross domestic product (GDP) and is therefore an essential variable for economic analysis of demand. The largest overall component of OTPS spending is contractual services, and the DOE and the human services agencies – the Department of Social Services, The Department of Homeless Services, and the Administration for Children’s Services – drive this spending.Household spending is the amount of final consumption expenditure made by resident households to meet their everyday needs, such as food, clothing, housing (rent), energy, transport, durable goods (notably cars), health costs, leisure, and miscellaneous services. Like overall PS spending for Fiscal 2019, the DOE has the largest proportion of the City’s total OTPS budget, totaling $9.7 billion, or 27 percent.Īfter DOE, the Department of Social Services (DSS) has the second largest OTPS budget, totaling $9 billion, or 25 percent. ![]() The Fiscal 2019 Preliminary OTPS Budget totals $35.6 billion. ![]() Other than Personal Services (OTPS) Spending This resulted in reductions in the City’s required contribution of $140 million, $280 million, $420 million, and $560 million in Fiscal 2019 through 2022, respectively. Pension expenses in the Plan reflect the impact of Fiscal 2017 investment returns of 12.95 percent (net of investment fees) – higher than the assumed actuarial rate of seven percent. Source: OMB February 2018 Financial Plan for Fiscal Years 2018-2022 Total Agency Spending by Mayoral Administrationįiscal 2019 Preliminary Financial Plan Summary This is largely due to considerable financial losses during the recessions of 20-2009, which necessitated increased employer contributions. One of the most significant drivers of the changed mix of City spending is the cost of the City’s mandated pension systems. The level of spending on Public Safety shows more consistency overtime increases across the Dinkins and Giuliani administrations reflect the Safe Streets Safe City initiative the drop during the last four years is explained by a changed mix of priorities, not by a funding reduction. Federal policy changes and economic improvements both contributed to the decline. The share of the City’s budget for Health and Social Service programs has dropped to just over one-quarter of the budget. The Preliminary Financial Plan projects that the City’s budget will hit $95.2 billion by Fiscal 2022 $25.1 billion, representing an increase of 26 percent greater than Fiscal 2015.Īs the mix of funding sources have changed over time, so has the allocation of budget resources for City programs.ĭespite the focus on education by the current administration on initiatives, like universal pre-Kindergarten, community schools, and the “Equity and Excellence” initiatives, the proportion of the City’s budget dedicated to education spending is lower than that in previous administrations. The City’s budget has grown each year during the de Blasio administration, increasing by 20 percent in Fiscal 2019 when compared to Fiscal 2015. The budgetary growth proposed for Fiscal 2019 is modest in comparison to the spending increases recorded during the prior four years. The Fiscal 2019 Preliminary Budget is $1.23 billion or just 1.4 percent, greater than the budget for the current year.Ĭomparing the City-funded portions of the Preliminary Budget and the Fiscal 2018 Adopted Budget shows a larger $2.7 billion, or 4.3 percent, increase. The Mayor outlined a budget that aims to strike a balance between ensuring that New York City is a fair city for all and preparing for real budgetary threats from both the federal government and the State. ![]() On February 1, 2018, Mayor de Blasio proposed the first budget of his second term: the $88.67 billion Fiscal 2019 Preliminary Budget.
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