MAYOR MICHAEL R. BLOOMBERG SIGNS LEGISLATION EXTENDING
DEADLINE FOR SUBMISSION OF PRELIMINARY BUDGET AND
PRELIMINARY MAYOR’S MANAGEMENT REPORT

Remarks by Mayor Bloomberg at a Public Hearing on Local Laws

“The bill before me today is Introductory Number 341, sponsored at my request by Council Members Weprin, Comrie, Jennings and Stewart.  The bill extends the deadlines for the Administration’s submission of the Preliminary Budget and the Mayor’s Preliminary Management Report to the City Council.  The bill also extends the date of submission for other various budget reports and actions from the Office of Management and Budget, Department of Finance, Borough Presidents, City Planning Commission, Community Boards and other government agencies.

“Under this bill, the Administration will submit the preliminary management report to the City Council no later than February 24, 2003, and the City Council will hold hearings on that report and submit findings and recommendations no later than April 28, 2003.  The Administration will also submit the preliminary budget to the City Council no later than February 7, 2003.  

“This legislation is necessary to adequately address the current fiscal climate.  The Administration proposed and the City Council adopted significant budget changes for Fiscal Year 2003 in the recent budget modification.  In addition, the Administration prepared a preliminary financial plan in November for the next fiscal year.  In order to complement these prudent early actions, the Mayor’s preliminary budget will further refine the proposed November Plan, and additional time is needed to analyze the State Executive Budget and its effect on local spending and revenue projections.”