In assisting the Mayor with developing and implementing the City's budget, OMB monitors and forecasts the revenues and expenditures of the City. It analyzes the economy, evaluates agencies' management improvement initiatives, including information technology purchases, conducts value engineering reviews of capital projects and, in cooperation with the Office of the Comptroller for the City of New York, issues bonds and notes in the public credit markets
What is the size of the City's operating budget?
The City’s annual expense budget for FY 2015 is $78.5 billion.
When is the City's fiscal year?
The City's fiscal year begins on July 1 and ends on June 30.
What is the budget process?
The budget process begins in late autumn when the various City agencies, after consulting with the 59 Community Boards, submit their budget requests to OMB. On or about January 16, the Mayor releases the Preliminary Budget and Four Year Financial Plan for the ensuing years. This is followed by a period of public comment during which the 59 Community Boards, the 5 Borough Boards and the City Council make recommendations on the budget to the Mayor. The Mayor then submits the Executive Budget to the City Council on or about April 26.
What is the Executive Budget?
The Executive Budget primarily consists of three parts: a revenue budget for anticipated receipts; an expense budget for operating expenditures; and a capital budget for improvements to infrastructure. The Executive Budget is accompanied by the Message of the Mayor, which contains the highlights and objectives of the Executive Budget; a description of programs; a description of the general fiscal and economic condition of the City; a description of anticipated aid from the Federal and State governments; a three year forecast for expenses; and a comparison of the prior year's budget with actual expenditures.
Where do the City's revenues come from?
The City's revenues come from a variety of local taxes, user charges and miscellaneous revenues as well as from Federal and State grants.
What does the City spend its money on?
The City's expenditures are for public safety, education, social services, community and economic revitalization and environmental protection.
How do I obtain a copy of the Executive Budget and the Message of the Mayor?
The Executive Budget and the Message of the Mayor publications can be downloaded from our web site.