COMPTROLLER LIU'S STATEMENT ON MAYOR’S FISCAL YEAR 2012 PRELIMINARY BUDGET

  New York City Comptroller John C. Liu stated the following in response to inquiries about his reaction to Mayor Bloomberg’s FY 2012 Preliminary Budget Proposal: 

  “As New York City emerges from this recession, added tax revenues are certainly welcome but they are by no means a solution to our problems. Before layoffs are even considered, the City must find savings in our own backyard - including putting an end to runaway contracts that have spent upwards of billions of dollars to employ high-priced consultants. 

  “We will continue to identify savings potential at City agencies to ensure that the budget is not balanced in a way that punishes our students, or unfairly singles out our City’s employees. 

   “There are still many moving pieces and uncertainties in this process, especially at the State level. My office looks forward to reviewing the Mayor’s Preliminary report and presenting testimony in the coming weeks on our findings.”