The Mayor’s Office of Management and Budget (OMB) is the City government's chief financial agency. OMB's staff of more than 350 analysts and experts assembles and oversees both the expense budget (Fiscal Year 2017 $85.33 billion) and capital budget (Fiscal Year 2017 $14.0 billion). The City of New York funds the activities of approximately 70 agencies with more than 300,000 full-time and full-time equivalent employees.
In addition, OMB plays many other important roles. Among these, the agency is charged with evaluating the efficiency and cost-effectiveness of City services and proposals. OMB's economists provide vital information to government officials on the local, United States and world economies. OMB also helps implement the City's borrowing and bond programs and conducts legal reviews of capital projects for financing with bond proceeds.