New York City Comptroller Analyzes City's Fiscal 2021 Adopted Budget
SUMMARY BY TAX ANALYSTS
New York City Comptroller Scott Stringer (D) has released an analysis of the city's adopted budget for fiscal 2021, noting that because of COVID-19's economic effects, the budget is $9.57 billion, or nearly 10 percent, below the modified fiscal 2020 budget; New York City is also expected to recover from the pandemic more slowly than the nation as a whole because the city is "uniquely vulnerable" to economic losses from tourism, commuting, and in-person business.
The comptroller also issued a news release summarizing the major findings of his report.