$84M budget surplus for upcoming year

From the Daily News:

"Based on the Independent Budget Office’s latest economic forecast and revenue and expenditure reestimates under the Mayor’s most recent budget plan, the city will end the current fiscal year with a surplus of $3.15 billion, $64 million less than the Mayor’s estimate. We expect 2012 to end with a small surplus of $84 million. But our projections show the city still faces a shortfall of $4.1 billion in 2013, the fiscal year that starts a little over a year from now, despite IBO’s revenue estimate for 2013 being substantially higher than the Mayor’s."