What does OMB do?
Please see the About page.
How is the budget made?
Please see the New York Budget Cycle page.
What is the size of the City's budget?
The annual expense budget is $87.44 billion in Fiscal Year 2018. The capital budget in Fiscal Year 2018 is $16.2 billion.
What is the difference between the expense and capital budgets?
Provides funding for the construction and rehabilitation of the City’s infrastructure such as schools, roads, libraries and parks. In order to meet eligibility requirements for Capital Budget funding, a project must have a value of at least $35,000 and a period of usefulness of at least five years.
The Capital Budget is funded by proceeds from the New York City Municipal Water Finance Authority, the New York City Transitional Finance Authority, and City general obligation bonds. It is also funded by grants from Federal, State and Private sources.
When is the City's Fiscal Year?
Each fiscal year begins on July 1st of one calendar year and ends on June 30th of the following calendar year.
Where do the City's revenues come from?
City taxes, user charges, federal and State grants, and other revenues such as licenses, permits, and fines.
How much of the City's budget is comprised of federal and State funds?
In Fiscal Year 2018, federal and State funds comprise $23.4 billion of the City Budget.
What does the City spend its money on?
Please see the Financial Plans on our Publications page for more information.
What is a Financial Plan?
An adjustment of current year expenditure and revenue projections and a projection of how these adjustments will affect future budgets. The Mayor releases four plans each year — one in the fall or winter; a Preliminary Budget in January; an Executive Budget in April; and an Adopted Budget in June.
What is a Financial Plan Statement?
A monthly update of how City agencies are spending money allocated to them in the last Financial Plan. The Financial Plan Statement also provides a forecast of future spending in the current fiscal year.
What is the Asset Information Management System (AIMS)?
A database of City-owned infrastructure, including streets, buildings, bridges, piers, marinas, and parks valued at $10 million or more with a useful life of 10 years minimum. OMB releases an annual report on the conditions of these assets.
What is the Report on Current Economic Conditions?
A study showing the current trajectories of the local and U.S. economies.
What is Tax Revenue Forecasting Documentation?
An annual report detailing the methodologies used by OMB to project revenues from taxes such as the real property tax, the personal income tax and the sales tax.
What is a Capital Commitment Plan?
In this plan, OMB reviews and authorizes capital projects for the current and three following fiscal years. The Mayor publishes proposed Capital Commitment Plans alongside the Preliminary (January) and Executive Budgets (April). The Mayor generally releases a final Plan – called the Adopted Capital Commitment Plan – in early September.
What is the Ten-Year Capital Strategy?
Lays out the City’s capital needs over the coming decade. The Ten-Year Capital Strategy is released by the Mayor with the Executive Budget during odd calendar years.
What is the Preliminary Budget?
A proposal for operating and capital expenditures and revenues forecasts for the upcoming fiscal year, plus three subsequent years. It is released by the Mayor in January.
What is the Executive Budget?
Revenue forecasts and a proposal for operating and capital expenditures for the upcoming fiscal year, plus three subsequent years. It is accompanied by the Message of the Mayor, a printed book that describes the highlights and objectives of the Executive Budget. Both documents are released by the Mayor in April.
What is the Adopted Budget?
After an Executive Budget has been released by the Mayor, it is reviewed and revised by the City Council and Borough Presidents. If approved by the Council, the budget becomes “adopted.” The Adopted Budget is then sent back to and released by the Mayor in June.
How do I obtain a copy of the Executive Budget, the Message of the Mayor, and other OMB publications?
They can be viewed and downloaded from the Publications page.