Bronx Borough Board Chair, BP Gibson to host virtual public hearing on Mayor’s FY2023

The Bronx Borough Board, chaired by the Borough President, Vanessa Gibson, has announced a virtual public hearing on Mayor’s Fiscal Year 2023

This was disclosed in a statement sent to our correspondent on Wednesday February 23, 2022.

The public hearing, scheduled to hold Thursday at 11 pm, will discuss preliminary expense and capital budget.

According to the statement, the hearing will also discuss “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 and Federal money,” the statement reads.

It explains further that “The Capital Budget covers larger long‑term investments in facilities and 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,” it concludes.