New York State Comptroller Edward V. Regan yesterday released his monthly "milestone monitoring" report on New York City, saying that for fiscal year 1991, which ended June 30, the city "should squeak through with a balanced budget."

He said, however, that his office is "troubled" by the city's inability to produce timely reports on the status of its gap-closing program for fiscal 1991 and fiscal 1992. He emphasized that stronger monitoring of the program is needed to close a $3.5 billion gap forecast in the city's $28.5 billion fiscal 1992 budget.

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