Not an agency but a budget line item representing the city's payments on borrowed money -- principal and interest on municipal bonds that fund capital projects like schools, bridges, water systems, and parks. Think of it as NYC's credit card bill. NYC borrows billions to build and maintain infrastructure. Debt service is money that's already committed -- it comes off the top before a single dollar goes to schools, police, or hospitals. The bigger this number gets, the less flexibility the city has.
Spending
$93.2M
268 transactions →
Budget (Adopted)
$4.87B
$2.23B spent
Did You Know
NYC's total outstanding debt exceeds $100 billion, making it one of the largest municipal borrowers on the planet -- larger than many countries. The $93M line item here represents just a slice; the city's total annual debt service bill is around $4.6 billion.
| BANK OF NEW YORK | $65.5M |
| THE BANK OF NEW YORK MELLON | $11.5M |
| N/A (PRIVACY/SECURITY) | $3.0M |
| STATE STREET BANK & TRUST | $2.6M |
| U S BANK NATIONAL ASSOCIATION | $1.6M |
Headcount
$0 payroll -- this is a fiscal line item, not an agency with employees. Debt is managed by the Comptroller's office and OMB
Who It Serves
Bondholders who lent money to NYC, but ultimately all New Yorkers who depend on the infrastructure the borrowing funded -- and who bear the cost of repayment through taxes
Category
Finance & Fiscal