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DOCUMU T ]1SUSD
06862 - [B2207208]
[Budqvnry Impact and Accounting Treatment of Costs of New York
City Labor Settlement.]. GGD-78-98; 2-185522. July 26, 1978. 9
pp. + enclosures (7 pp.).
Report to Sen. Harry F. Byrd, Jr.; by Ulser B. Staats,
Cosptroller General.
Issue Area: Intergovernmental Policies and Fiscal Belationa:
Fiscal Problems and Potential Solutions (407).
Ccatact: General Government Div.
Budget Function: General Government: Executive Direction and
Management (802).
Orqanization Concerned: Department of the Treasury; lew York,
NT.
Congressional Relevance: Sen. Harry f. Byrd, Jr.
The budgetary impact of a contract negotiated ky new
York City with a coalition of municijal unions was a;allaed.
City officials estimated the cost of the ccntract for the 2-year
period covered at $1.088 billion. The estimate was reascnable,
but ddditional costs may be incurred fcr deferred wages to
employees and if some unions receive a larger settlement.
Concerns were expressed about the uncertainty of some elements
in the funding of the contract settlement. Alac, the planned use
by the city of the 1978 surplus as a fitudiaq source is act in
accordance with generally accepted accocnting principles. Two
siquificant matters of concern were: the coutract may hase a
significant budqetary impact on the city after June 1980 since
the salary levels on which wage increases mill be applied will
be much higher at the end of the period than they were at the
beginning of the contract, and the city softend its position on
fringe benefits (or givebacks) and conceded to return scm of
the givebacks which were reduced in Frevious negotiations. (HTN)](ViewImageLocal?handle=hein.gao/gaobaaxux0001&div=1&collection=&method=preview&ext=.png&size=3)