New York City Comptroller Elizabeth Holtzman said in a report released yesterday that the city's proposed $28.7 billion budget for fiscal 1992 is $ 675 million out of balance, widening the projected budget gap to $ 4.15 billion.

The city comptroller's latest budget analysis incorporates the $ 3.5 billion budget gap projected by the city's Office of Management and Budget for fiscal 1992, which begins July 1. On top of that, her latest gap projection includes $ 425 million that her office had previously forecast and $ 250 million in state aid that had been earmarked for the city but cut from the state budget by Gov. Mario M. Cuomo two weeks ago.

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