CITY BUDGET INFO

EPP ALERTS
2005

MAYOR BLOOMBERG ANNOUNCED PLANS TO MODIFY THE RECENTLY APPROVED FY 2005 SCHOOLS CAPITAL PLAN BUDGET

On March 17, 2005 after major public outcry the mayor announced his plan to modify the FY 05 capital budget.  The city will front-load the five-year capital plan in FY 05 by $1.3 billion. The total city contribution to the capital plan in FY 05 will be $2.6 billion. However, the city will reduce its share in the capital plan in FY 06 by $500 million, $400 million in FY 07, $300 million in FY 08 and $100 million in FY 09.  The city expects the state to fund its $1.3 billion share of the capital plan budget beginning on FY 06, thereby making up for the reductions in the city’s share of the plan.

The administration states that no projects will be delayed. All projects included in the November 2004 amended plan and the February 2005 amended plan will be captured within the statutory five-year capital plan.

EPP would add a note of caution here. In the past, capital budget cuts and increases have not necessarily been a good predictor of how many new schools will actually be built.

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