NYC Budget Gap to Exceed Mayor’s Forecast, Comptroller Says
- Lander projects deficit for next fiscal year of $4 billion
- Migrant costs, overtime, charter schools cited for increase
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New York City may have to close an almost $4 billion deficit because it chronically under-budgets for overtime and schools and doesn’t include potential spending on asylum seekers, according to Comptroller Brad Lander.
In a report released Friday, Lander estimated the deficit for the fiscal year starting July 1 is about $1 billion higher than the $2.9 billion projected by Mayor Eric Adams. The gap would be even wider, if not for the comptroller’s projections for better-than-expected personal income and sales tax revenue, and property tax collections.