Some New Insights Into Crucial Factors In New York Times

Jan 15, 2017  

At the end of its 2015 fiscal year, the citys general fund reserves amounted to just 0.67 percent of expenditures well below the Government Finance Officers Association recommendation of 16.67 percent (equivalent to two months of spending). A citys general fund is roughly analogous to an individuals checking account. Related: The Financial Health of All 50 States, Ranked New York City also carries a very heavy debt burden. According to a report issued by City Comptroller Scott Stringer, New Yorks per capita debt greatly exceeds that of all other large U.S. cities, and is even 50 percent higher

.... Read more