Bracing for a steep loss in funds from Albany, Mayor Michael Bloomberg is once again asking city agencies to find more savings, this time to the tune of $1.3 billion.
That's the amount Gov. David Paterson is proposing cutting from aid to the city and its schools. The Senate has passed its own budget, with deep cuts to education; the Assembly is coming up with its own spending plan, and money could be restored, but Deputy Mayor Ed Skyler says, no matter what, the city's fiscal back is against the wall.
"It does not appear that the city will weather the Albany budget without having a significant impact on our own operations and our own fiscal situations," Skyler says.
The possible $1.3 billion cut in state aid to New York City could mean layoffs of 19,000 city employees, including 8,500 teachers. Bloomberg says the aid reduction would be "catastrophic" for the city. Agencies are being asked to submit their revised budgets by April 7. While the state's budget deadline is April 1, the city's is July 1.