New York City’s securities industry reported record first-quarter profits of $8.2 billion, a bright spot in a largely downbeat report on the city’s budget released last week by New York State Comptroller Thomas DiNapoli.

The return to profits follows losses of $42.6 billion in 2008. The report, released ahead of a scheduled meeting today of the New York State Financial Control Board, which monitors city finances, found the city’s enacted fiscal 2010 budget was balanced but faces large deficits that will grow to $5.6 billion by fiscal 2013.

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