COMMENTS ON NEW YORK CITY’S FY 2017 PRELIMINARY BUDGET BEFORE MEMBERS OF THE NEW YORK CITY COUNCIL FINANCE COMMITTEE (Office of the Comptroller City of New York)

(Source: Office of the Comptroller City of New York) PR16-03-026 Contact : Eric Sumberg, (212) 669-3535, esumberg@comptroller.nyc.gov March 01, 2016 Thank you, Chair Ferreras and members of the Finance Committee. I welcome the opportunity to address you today with the Comptroller's analysis of the City's FY 17 Preliminary Budget. Joining me is my Deputy Comptroller for Budget, Tim Mulligan. My testimony today will focus on: - The state of the City's economy - The Preliminary Budget - Homeless services spending - Risks and offsets to the City budget - The City's fiscal cushion First, let's discuss the state of our economy. New York City has benefited from six straight years of slow but steady...