On November 21, 2013, the City of New York revised its four-year financial plan (the “November Plan”) to reflect a number of favorable developments since the FY 2014 budget was adopted in June 2013. The City now forecasts that revenues will be higher by $1.1 billion in FY 2014 (mostly from nonrecurring sources), debt service will be lower during the entire financial plan period, and recurring savings will come from a one-year freeze in employee health insurance premiums in FY 2015.