The board heard from de Blasio, the city and state comptrollers, and public members. The testimony was mostly positive, with de Blasio receiving praise for funding a trust fund for retiree health benefits and accounting for the cost of settling labor contracts with the municipal workforce for the first time since 2009.
A public member of the board, Lawrence Golub, criticized the administration for short-funding a trust fund for retiree health benefits. The practice is commonplace, Golub said, but is not a prudent approach.
The FCB was created in the 1970s after New York City came dangerously close to bankruptcy.