New York City Comptroller Scott Stringer is offering city residents a choice.
They can read the city's 422-page comprehensive annual financial report, which contains data on pensions and every other aspect of city finances, or they can consult the 24-page popular annual financial report, or PAFR, which says almost the same thing in far fewer words.
The condensed report is a first for New York City, Mr. Stringer said.
“We want all New Yorkers to understand the meaning of the data contained in the thousands of pages of documents, publications and reports that we assemble each year,” Mr. Stringer said in a news release.
Among his duties, Mr. Stringer is the fiduciary for the five pension funds that make up the $162.9 billion New York City Retirement Systems.
Although the PAFR doesn't contain details on pension system investments, it does show how pension system spending affects the overall city budget. Other highlights include information on taxes, the cost of capital projects and real estate value data.
The 24-page report contains four pages of photographs — three of city landmarks and one of the top elected officials, including Mr. Stringer.
For the 422-page comprehensive report, Mr. Stringer's photo occupies all of page 4, but you have to wait until page 39 to see the first photo of a city landmark.
