Larger raises for cops could add another $700M to city’s deficitBy Nolan Hicks
April 11, 2023
The collective bargaining deal struck last week between Mayor Eric Adams and the city’s largest police union could deepen the city’s eye-watering budget shortfall by another $700 million, a new analysis shows.
The new costs would come from larger raises that were promised to the Police Benevolent Association by City Hall in the new labor agreement, which has yet to be ratified by the PBA’s rank-and-file.
Adams scored plaudits from budget watchers for keeping wage increases below the rate of inflation; however, they also have cautioned that the Big Apple’s precarious finances mean that each new deal increases the budgetary pressure Hizzoner faces.
“While these raises are reasonable given economic conditions, the City missed the opportunity to identify productivity savings during collective bargaining to fund them,” said the Citizen Budget Commission’s Ana Champeny, who performed the analysis.
State Comptroller Tom DiNapoli has warned that City Hall faces a budget deficit that could reach $8.9 billion in 2025 and explode to $13.9 billion by 2027 — numbers that were tallied before the PBA deal was struck.
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Source:
https://nypost.com/2023/04/11/larger-cop-raises-could-add-700-million-to-nyc-budget-hole/
