The New York State Financial Control Board for New York City yesterday warned that the administration of Mayor David N. Dinkins has failed to rein in the growth of its capital program and is undermining the city's ability to develop a balanced budget on a long-term basis.

The control board, in its report on the November revision of the city's financial plan, calls on the Dinkins administration to publicly establish debt service limits for the city's capital program and its related authorities.

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