New York City’s budget director Tuesday ordered agency heads to find spending reductions totalling $1.3 billion in anticipation of budget cuts from the state government in Albany.

“In order to be able to formulate city budget proposals which will best preserve necessary city services and the quality of life vital to us in whatever circumstances apply later this spring and again in June, I am asking city agencies to again focus on their operations in fiscal year 2011 to determine how best, to the extent necessary, we can achieve balanced city operations,” budget director Mark Page said in a letter.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.