Bloomberg Calls For MORE Budget Cuts Today

[Hannah Bell]

Bloomberg said on top of the budget that lays off 4,666 teachers and 1,500 city workers, closes 105 senior centers and shutters 20 fire houses, city agencies will have to cut an additional $600 million from their budgets.

The notice for these cuts go out next week.

http://perdidostreetschool.blogspot.com/2011/03/bloomberg-calls-for-more-budget-cuts.html

This is after the NYC comptroller issued a "scathing" report on corruption & mismanagement of city contracts:

In a scathing critique of the Bloomberg administration’s oversight practices, New York City’s top fiscal watchdog has accused the city’s main agency for economic development of allowing a contract with a construction company to balloon by tenfold in three years to nearly $74 million, and authorizing over $3 million in dubious payments.

The agency is one of New York’s most powerful entities. With a mission of encouraging economic growth through redevelopment programs and other efforts, it is now managing roughly 600 capital projects valued at $1.6 billion, including planned redevelopments in Coney Island in Brooklyn and Willets Point in Queens.

But Mr. Liu, a former member of the City Council, has long questioned the agency’s transparency. In one audit that he released last April, Mr. Liu accused the agency of failing to turn over to the city more than $125 million in payments, taxes and fees through leases on buildings in Times Square and the sale of city properties. Bloomberg administration officials strongly took issue with the audit, but agreed in July to hand over more than $120 million in rental payments by 2014.

In another audit, released in February, Mr. Liu said the agency was doing a poor job overseeing the Water Club restaurant on the East River between 30th and 32nd Streets. Auditors had a hard time tracking down cash receipts for the restaurant — something that “shortchanges the city,” the audit said...

http://perdidostreetschool.blogspot.com/2011/03/liu-city-contracts-out-of-control.html