News
Public Finance Wrap-Up: April 2021
Mayor’s Office Releases Executive Budget
The Mayor’s Office of Management and Budget released its Fiscal Year 2022 Executive Budget on April 26. The release includes information on $49.8 billion of planned capital borrowing for Fiscal Years 2022-2025, covering New York City’s General Obligation, Transitional Finance Authority Future Tax Secured, and Municipal Water Finance Authority credits.
The Executive Budget also includes an updated Ten-Year Capital Strategy for Fiscal Years 2022-2031 that totals $133.7 billion. The Ten-Year Capital Strategy is updated every two years. Read the Comptroller’s statement on the Executive Budget.
New York by the Numbers
The Comptroller’s Office continues to track key economic indicators in its New York by the Numbers – Weekly Economic and Fiscal Outlook. Notably, the number of advertisements for jobs in the New York metropolitan area were above pre-pandemic levels for the first time in late March and continued to exceed pre-pandemic levels as of April 16th, pointing toward a steadily accelerating recovery.
Looking Ahead
The New York City Municipal Water Finance Authority plans to offer $600 million of tax-exempt bonds via negotiated sale the week of June 14. The bonds are anticipated to be issued through the New York State Environmental Facilities Corporation, as a combination of new money and refunding bonds.
Marj Henning
Deputy Comptroller for Public Finance