Bill de Blasio's first budget approved by state regulators at Financial Control Board

[hrmjustin]

ERIN DURKIN

Mayor de Blasio's first budget got the OK from state regulators at the Financial Control Board Tuesday.

The regulators - who have had the power to seize control of city finances if the city goes astray since the fiscal crisis of the 1970s - said that though future deficits have spiked since de Blasio settled contracts with public workers unions, they're at a level the city can handle.

"Everyone agrees that we're on a strong fiscal footing," de Blasio said.

While the Mayor's $75 billion budget increased spending across the board, he said he'll be looking to cut costs at the Department of Education next year.

http://www.nydailynews.com/blogs/dailypolitics/mayor-de-blasio-budget-approved-state-regulators-financial-control-board-blog-entry-1.1884760