The City cannot cry poverty when it comes to contract negotiations with its employees. This is from the Independent Budget Office:
IBO projects that the city will end fiscal year 2023 with a $4.9 billion surplus, $2.8 billion more than the surplus projected by the Office of Management and Budget (OMB) in the Preliminary Budget. This higher surplus is the result of IBO’s forecast of $1.8 billion more in anticipated tax revenues in 2023 than OMB, coupled with IBO’s estimate that city-funded spending will total about $1.0 billion less than budgeted in the Preliminary Budget. IBO projects that the city will underspend on personal services costs, offset somewhat by increased estimates of city-funded costs in other areas of the budget, including for the Department of Education, overtime at the uniform agencies, and for costs related to asylum seekers.
IBO assumes the city will prepay some of next year’s expenses with this year’s surplus, resulting in a surplus of $2.6 billion in fiscal year 2024.
Pretty good financial picture on the horizon. The City cannot cry poverty.
For those wondering what a salary increase for all City workers would cost, this is also in the IBO report:
As of the Preliminary Budget, IBO estimates, for example that just a 1 percent raise would cost approximately $362 million in fiscal year 2024, if all new labor contracts were to commence on the first day of fiscal year 2024.
10 comments:
Count on Mulgoon to screw up contract negotiations.
Very true - one previous NYC comptroller was quoted after negotiations with Mulgrew that it was like ‘negotiating with a child’. Every instance where Mulgrew went into negotiations, New York City teachers got screwed royally. I remember deBlasio, screaming that the city was broke, and then after the negotiations, it came out that the city had more money than it ever had, before or since - billions upon billions in surplus. Not only did he negotiate a terrible contract at that time, but he gave givebacks, and he broke up the retro even more times - saying ‘the city is broke, what could I do?’ Perhaps it’s time for Mulgrew to hire a professional negotiator where he could stand by and give carefully limited guidance (or just take a nap), but the man should not be trusted to buy a used bike at a garage sale, never mind negotiating for thousands of teachers with the city.
If you think Adams is going to tap into financial reserves to pay city workers, I have a bridge for sale in Brooklyn for ya'.
This time we have both a large surplus in the city and large pay increases for teachers in various new contracts around the country and lets not forget Social Security increases over the last 2yrs.
Hey commenter Jeff,
Rules for comments still apply about staying on topic and being relevant. This post was about the NYC surplus, not another city's math results.
Lol. Almost every post is demanding a large raise. Didn’t you say 2 years at 14%? This is about a surplus, which would be used for our raises. Have you ever heard of WA and WG for Regents? Passing without passing? No shows passing? Students who can’t read or write graduating? We aren’t much better than Baltimore where 23 schools had zero students proficient.
I put it through second time commenter Jeff. I still don't see where another city's test scores have anything to do with NYC municipal worker salary increases because they are not related. In addition, the publication you cite can't pass a fact check.
I don't miss some people here trying to push the right wing view of the world in comments here since we stopped the non Google account comments. You are of course entitled to your opinions but stick to what we are writing about please.
Right wing talking point? Oh, ok.
Tons of money spent with zero return on investment. This is about a surplus and contracts and, oh, education, right?
If you were Adams, would you give us a raise with similar numbers? We are pulling the same voodoo as Baltimore.
The top spending public school districts are also some of the worst performing school districts. New York topped the per capita spending at $24,040 per kid. Washington, D.C. is close at $22,759. Baltimore is often ranked in the top three per capita spending districts. The total budget for Baltimore public schools is roughly $1.2 billion. That is for a city with a total population of roughly 600,000 (The greater Baltimore metropolitan area is 2.8 million).
How does it relate? Well, it's all grade fraud and students aren't learning. Where is the reporting on that?
Want some more valid reporting? I would give you an MSNBC article on this but they wouldn't bother.
https://jonathanturley.org/2023/02/11/report-23-baltimore-schools-had-zero-students-proficient-in-math/
https://www.zerohedge.com/markets/education-crisis-23-baltimore-city-schools-have-no-students-proficient-math
https://r.search.yahoo.com/_ylt=AwrEs_biGOhjZ18kbitXNyoA;_ylu=Y29sbwNiZjEEcG9zAzIEdnRpZANMT0MwODlDXzEEc2VjA3Ny/RV=2/RE=1676183907/RO=10/RU=https%3a%2f%2fnypost.com%2f2022%2f10%2f24%2fny-parents-rip-schools-after-math-scores-decline-during-covid%2f/RK=2/RS=Vi2k._HxLSC0h7VHuRlVoChP_Nk-
https://ny.chalkbeat.org/2022/8/26/23319844/new-york-school-spending-test-scores-disconnect
https://r.search.yahoo.com/_ylt=AwrNYlWaF.hjGyskG7lXNyoA;_ylu=Y29sbwNiZjEEcG9zAzMEdnRpZANMT0MwODlDXzEEc2VjA3Nj/RV=2/RE=1676183578/RO=10/RU=https%3a%2f%2fwww.foxnews.com%2fmedia%2fenraged-residents-slam-fraud-corruption-baltimore-schools-hit-shocking-new-low%3fyptr%3dyahoo/RK=2/RS=eFhhh_keSILOYoEheM4lNNWkL3E-
https://r.search.yahoo.com/_ylt=AwrE.8IhGOhjr5QkPslXNyoA;_ylu=Y29sbwNiZjEEcG9zAzEEdnRpZANMT0MwODlDXzEEc2VjA3Ny/RV=2/RE=1676183714/RO=10/RU=https%3a%2f%2fwww.washingtonexaminer.com%2fopinion%2fbaltimore-city-schools-deserve-an-f-when-it-comes-to-educating-its-students/RK=2/RS=rm.rcAR_lC5tf34ahEgZQv1OTJY-
By your logic, we should cut the police department since crime has gone up in NYC and other cities and then we should lower police salaries.
Per pupil spending includes administration. Money in NYC often does not find its way to the classroom. These school systems are often not very well administered. See special ed and English language learners who do not receive mandated services for lots of examples.
All that said, our teachers and support staff do remarkable work day in and day out with so many kids who present many challenges. UFTers deserve to live a middle class life and need a salary increase.
As I said in my last comment, "You are of course entitled to your opinions but stick to what we are writing about please."
The topic is the NYC surplus, not test results in Baltimore.
James must have PTSD from the commenters because he is up your behind Jeff. Good news is that we have a surplus. All the Dems I know lose 600 million for mental health or close NYC and ruin it. The same policies of adopting migrants will cost us 1 billion. Inclusive or stupid.
https://www.bloomberg.com/news/articles/2022-09-30/nyc-could-spend-1-billion-for-migrant-arrivals-as-economy-strains-budget
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