According to WNBC, Mayor Michael Bloomberg has asked city agencies to cut $500 million from their budgets this year and $1 billion next year. Quoting a high-ranking NYC official, WNBC reports that Mayor Bloomberg reportedly asked his commissioners to make deep cuts in the city budget, a response to the financial crisis. This includes the FDNY, NYPD, Schools, and all other NYC agencies.

Those cuts amount to 2.5 percent of the agency budgets in the current fiscal year, which began July 1, and 5 percent of their budget next fiscal year. Agency heads will have to submit their lists of cuts to City Hall on Oct. 8.

(Dov Gordon – YWN)