Budgets

The city is projecting a $100 million deficit in its current budget once the public health crisis caused by COVID-19 eases, Mayor Mike Duggan said.

The council wants to focus on the social safety net in light of the COVID-19 pandemic.

Lori Lightfoot's confident statements about the city's fiscal resilience aren't wholeheartedly shared by the muni buy-side as the coronavirus hurts the economy.

The rating agency echoed others in citing the New York transportation system's hard fall since the coronavirus outbreak.

Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.

The rating agency expects a 'sudden and severe decline in the city's sales and income taxes' as a hit to the city's budget and economy from the coronavirus crisis.

The nation's second-most-populous county is factoring in a recession as it runs fiscal models on COVID-19's impact and is banking on federal aid for hospitals.

The Citizens Budget Commission is calling for far larger cost cutting and predicts that New York City could see $20 billion of lost revenues over three fiscal years.

Despite rising 3% in 2019, DiNapoli expects bonuses to drop this year.

The mayor cited COVID-19 as a spending priority while cases in his city represent more than one-third of the nation's total.