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New York City Project Part 4 - Essay Example
Author : theaprohaska
Finance & Accounting
Pages 4 (1004 words)
New York City Fiscal Budget Analysis Name Institution New York City Fiscal Health The financial position of New York City is relatively balanced in supporting the essential operation of the city since the budget allocations to the different departments are optimal…
Similarly, the economic recovery of the city as reflected by the improved activities at Wall Street would enable the local government in attaining the projected revenue in the budget drawn (Hillman, 2009). Consequently, the ability of the New York City local government to deliver services to the population of the city is strong due to the availability of funds to finance the government operations. Indeed, the economic recovery within the city saw the revenue collection forecast for the fiscal year of 2012 exceeding by $2.4 billions that will be useful in closing the financial gap of 2013 financial year (Bloomberg, 2013). Similarly, the fiscal budget that has been prepared by the local government of New York City allows for future modification on the allocations that have been made to the different departments. This will help the city in avoiding the current shut down crisis that is facing the federal government organs currently. Furthermore, the reducing deficit projection in the budget implies that the financial stability of the firm is strong in allowing the city to deliver it services to the public. This will boost the ability of the New York City local government in meeting it obligations and development objectives. ...