City's Independent Budget Office finds that projected 2012 increase in city revenue largely wiped out by rising expenses - NYPOST.com

Legislators intent on restoring service cuts proposed by Mayor Bloomberg didn't get the good news they were looking for yesterday from the Independent Budget Office.

The IBO, which in past years has called out the administration for being too pessimistic in projecting how much money there was to go around, reported that its assessment of the fiscal 2012 budget was largely in line with the mayor's.

Based on its reading, the IBO estimated that by June 30 of next year the city will end up with just $84 million more than Bloomberg has forecast.

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City's Independent Budget Office finds that projected 2012 increase in city revenue largely wiped out by rising expenses - NYPOST.com


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