City passes balanced budget on time

Monday June 25, 2012 7:21 PM By IVAN PEREIRA

Photo credit: Mayor Michael Bloomberg and the City Council came to agreement on the budget Monday. Getty Images | This file photo shows New York City Mayor Mike Bloomberg.

The city passed its $68.5 billion budget Monday not only on time but also without sacrificing essential services.

Mayor Michael Bloomberg, who was flanked by virtually every City Council member at a news conference, said under the deal, taxes would not be raised and there would be no cuts to the Department of Education, fire department or after-school programs.

"Working together . . . we produced an on-time balanced budget that does not raise taxes on New Yorkers and retains the essential services we rely on," he said.

City Council Speaker Christine Quinn thanked the mayor for listening to her concerns about education funding and noted it would go a long way for students.

"Our budget isn't a plan on how to spend taxpayers dollars, it's a statement on how we run this city," Quinn said.

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