NEW YORK (AP) — Mayor Bill de Blasio is presenting his first financial plan to the New York State Financial Control Board.
The board was created in 1975 after the city’s fiscal crisis. It actively managed the city’s finances for more than a decade.
Since then it has adopted a monitoring role, keeping watch on the city’s borrowing, spending and overall finances.
De Blasio, a Democrat who took office in January, spoke Tuesday at the board’s annual meeting.
He and city Comptroller Scott Stringer spoke highly of the city’s fiscal future, noting rising revenues and several new labor contracts with city unions.
State Comptroller Thomas DiNapoli praised the fiscal plan saying the administration was “off to a great start.”
But one board member expressed concern about growing retiree health care costs.
