New York City Financial Plan Report, December 2011

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On November 18, 2011, New York City issued a revised financial plan covering fiscal years 2012 through 2015 (the “November Plan”). Mostly as a result of unplanned spending in the uniformed agencies, the out-year budget gaps have grown by half a billion dollars to $5 billion in FY 2013 and about $5.5 billion in both FY 2014 and FY 2015.

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