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GGD-78-98 1 (1978-07-26)

handle is hein.gao/gaobaaxux0001 and id is 1 raw text is: 
                           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,
 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)

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