| New York City Financial Plan |
| October 2007 |
| ($ in millions) |
| Revenues | FY 2008 | FY 2009 | FY 2010 | FY 2011 |
| Taxes |
| General Property Tax | $ 12,984 | $ 14,100 | $ 15,186 | $ 16,171 |
| Other Taxes | 22,215 | 21,456 | 22,221 | 22,696 |
| Discretionary Transfers (1) | 546 | - 0 | - 0 | - 0 |
| Tax Audit Revenue | 659 | 559 | 560 | 560 |
| Tax Reduction Program | (68) | (239) | (283) | (301) |
| Subtotal: Taxes | $ 36,336 | $ 35,876 | $ 37,684 | $ 39,126 |
| Miscellaneous Revenue | 6,063 | 5,084 | 5,101 | 5,134 |
| Unrestricted Intergovernmental Aid | 340 | 340 | 340 | 340 |
| Less: Intra-City Revenue | (1,457) | (1,367) | (1,368) | (1,368) |
| Disallowances Against Categorical Grants | (15) | (15) | (15) | (15) |
| Subtotal: City Funds | $ 41,267 | $ 39,918 | $ 41,742 | $ 43,217 |
| Other Categorical Revenues | 1,067 | 1,007 | 1,012 | 1,014 |
| Inter-Fund Revenues | 436 | 411 | 403 | 398 |
| Total City Funds and Inter-Fund Revenues | $ 42,770 | $ 41,336 | $ 43,157 | $ 44,629 |
| Federal Categorical Grants | 5,606 | 5,373 | 5,358 | 5,344 |
| State Categorical Grants | 10,958 | 11,424 | 12,289 | 12,733 |
| Total Revenues | $ 59,334 | $ 58,133 | $ 60,804 | $ 62,706 |
| Expenditures |
| Personal Service |
| Salary and Wages | $ 21,189 | $ 22,323 | $ 24,082 | $ 25,353 |
| Pensions | 5,728 | 6,265 | 6,318 | 6,404 |
| Fringe Benefits | 6,406 | 6,815 | 7,282 | 7,795 |
| Subtotal: Personal Service | $ 33,323 | $ 35,403 | $ 37,682 | $ 39,552 |
| Other Than Personal Service |
| Medical Assistance | 5,797 | 5,602 | 5,756 | 5,916 |
| Public Assistance | 1,187 | 1,187 | 1,187 | 1,187 |
| Pay-As-You-Go Capital | 100 | 200 | 200 | 200 |
| All Other (1) | 18,044 | 17,547 | 17,971 | 18,376 |
| Subtotal: Other Than Personal Service | $ 25,128 | $ 24,536 | $ 25,114 | $ 25,679 |
| General Obligation, Lease & MAC Debt Service (1,2,3) | 3,837 | 3,896 | 4,247 | 5,002 |
| FY 2007 Budget Stabilization & Discretionary Transfers (1) | (4,052) | - 0 | - 0 | - 0 |
| FY 2008 Budget Stabilization (2) | 2,255 | (2,255) | - 0 | - 0 |
| FY 2009 Budget Stabilization (3) | - 0 | 350 | (350) | - 0 |
| General Reserve | 300 | 300 | 300 | 300 |
| Subtotal | $ 60,791 | $ 62,230 | $ 66,993 | $ 70,533 |
| Less: Intra-City Expenditures | (1,457) | (1,367) | (1,368) | (1,368) |
| Total Expenditures | $ 59,334 | $ 60,863 | $ 65,625 | $ 69,165 |
| Gap To Be Closed | $ - | $ (2,730) | $ (4,821) | $ (6,459) |
| (1) FY 2007 Budget Stabilization and Discretionary Transfers total $4.663 billion, including prepayments of subsidies of $639 million, |
| Budget Stabilization of $3.313 billion, lease debt service of $100 million, $65 million in debt retirement and a TFA grants which |
| increases FY 2008 revenues by $546 million. |
| (2) FY 2008 Budget Stabilization totals $2.255 billion. |
| (3) FY 2009 Budget Stabilization totals $350 million. |
chick
pad_505_budget_tools_chapter_06_exercise.xls
