BRONX BBOROUGH PRESIDENT GIBSON TO HOST A PUBLIC HEARING ON FY`23 BRONX BUDGET PRIORITIES

The Bronx Borough Board, chaired by Bronx Borough President Vanessa L. Gibson, will host a virtual public hearing on the Mayor’s Fiscal Year 2023 Preliminary Expense and Capital Budget tomorrow at 11 AM. Join us as we discuss the capital and service needs for our colleges, hospitals, parks, and neighborhoods in the Bronx.

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How the Budget Works: The Expense Budget covers the costs of running our city. It pays for the sanitation worker who picks up your garbage, and powers the lights at your local library. Funds are set aside to operate each city agency. This also includes the Debt Service, the City’s annual loan payment for long‑term Capital Projects for which the City borrows State & Federal money. The Capital Budget covers larger long‑term investments in facilities & infrastructure, or Capital Projects. Examples include the construction of public schools, street maintenance, and parks improvements. The Revenue Budget outlines money expected from taxes, State & Federal aid, and other sources of revenue. It determines the maximum amount in the Expense Budget, as the City is required to have a balanced budget.

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