New York City is expecting to generate a surplus of $3.7 billion in fiscal year (FY) 2022 due to federal aid, better-than-projected tax revenues, and planned savings, according to a report released today by State Comptroller Thomas P. DiNapoli on the city’s February financial plan.
Mayor Eric Adams released a $98.5 billion spending plan on Wednesday that called for broad cuts to most New York City agencies and a gradual reduction in a municipal work force that had risen to its highest level ever under the mayor’s predecessor, Bill de Blasio.
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